There are many international money transfer agencies available in the market. Some of these agencies offer free transfers to its users. However, they charge a huge hidden fee from their users. Thus, it is difficult to find a money transfer service that is both reliable and fast.
In this article, we are going to talk about the best remittance websites that you can use for transferring your money from USA to India. These websites are reliable. Thus, you don’t need to worry about any hidden charges.
A very big thank you for making my previous article Hotstar USA Offers a big success. I’m glad thousands of Socialtalky readers used the offers and got the Hotstar for Free.
For more useful NRI articles and deals, read our Socialtalky NRI Section
Remit2India was founded in 2001. Currently, it has more than 500k customers. You can use this service for sending money from anywhere in the world to India. Thus, you can easily transfer money to your loved ones. The company is currently owned by UAE Exchange.
There are two transfer options available in the Remit2India:
- ACH Transfers: In this, your money will be sent through the ACH network. It is the most reliable mode of transfer. Your recipient will receive funds in 6 business days.
- Wire Transfers: If you want to transfer your money quickly, then wire transfer is perfect for you. You can directly send your money to an Indian bank account. Your recipient will receive funds in only 2 days.
If you want to send money using Remit2India, then you need to check your eligibility first. After that, you can create your account by providing your personal details. Also, your recipient doesn’t need to create their account on Remit2India. They can directly receive money in their bank account.
The transfer fee is also very minimal. You need to pay only $3 on transactions up to $500. If you are sending up to $1000, then you need to pay only $5. If you are sending up to $10000, then you need to pay only $9.
Xoom is another very popular service that you can use for transferring your money. It is currently owned by Paypal. Thus, it is very reliable. You can use it for sending money to your family. Xoom will allow you to send money to over 50 countries. You can also use it for sending money from the USA to India.
Xoom was founded in 2001. It has revolutionized the remittance industry. They were the first ones to provide digital experience to their users. Now, you can even send money from your mobile device. They are also partnering with various local banks. Thus, you can quickly send your money to your bank account. Xoom is doing its best in making international money transfer more secure and affordable.
You can fund your Xoom account by US bank account, credit card or debit card. The money will directly go into the recipients. If you are an NRI, then you can directly transfer money to NRO and NRE bank accounts.
The best thing about Xoom is that you can transfer up to $50000/transaction. Thus, it is best for sending a huge amount of money. They have also partnered with Yes Bank, Axis Bank, and HDFC Bank. You can instantly transfer your money in these bank accounts.
However, there is a minimal transfer fee that you need to pay. If you are transferring money up to $500, then you need to pay $2.99 only. If you are transferring money up to $999, then you need to pay $4.99 only.
But, if you are transferring more than $1000, then you don’t need to pay any additional fees. You can send up to $50000 every day. If you are using debit or credit cards, then you need to pay more transfer fees.
There are two transfer modes available in the Xoom:
- Bank Deposit: This is the best way to transfer your money. In this, the money will directly get transferred to your recipient bank account. You can directly send money to most of the Indian banks.
- Cash Pickup: In this, you can pick up cash from a specific location. This mode is faster when compared to the Bank deposit. Xoom can transfer your money in minutes. However, you can only transfer up to 50,000 INR in one transfer. If you want to transfer a huge amount of money, then the bank deposit is better for you.
You don’t need to open your account in Xoom for receiving your money. Xoom will directly transfer your money to your account. After that, you will get a notification from your bank.
If you are using cash pickup, then you need to visit the pickup location. After that, you need to provide your identification documents and transaction number for receiving money.
The time for money transfer will depend on your transfer mode. If you are using cash pickup, then the recipient will get money in few minutes. However, it can take up to 4 hours if you are using a bank deposit.
Xoom has already partnered up with four Indian banks. You can directly transfer your money in Yes Bank, HDFC Bank, Axis Bank, and PNB.
If you are using these bank accounts, then Xoom is perfect for you. If the transfer amount is more than 10000$, then it can take up to 2-3 days.
Ria is helping people to transfer money for the past 30 years. It is one of the most reputable companies in the market. You can transfer your money to more than 149 different countries. It will also allow you to transfer money from the USA to India.
The best thing about this site is there is no transaction fee on bank transfers. However, you need to pay a minimal fee if you are using a credit card.
You can use Credit Cards, Debit cards and ACH transfers for transferring your money. If you are using ACH transfer, then you don’t need to worry about any fees.
However, the transfer fees of credit cards can be very high. If you are sending $2990 by using a credit card, then you need to pay more than $90 in transaction fees.
Ria also has a transfer limit. You can only send up to $2,999 per day. Also, you can send only $7,999 every month. If you need to send more money, then you should try other options.
The transfer time will also vary according to your mode. If you are using debit or credit cards, then your recipient will receive money in few minutes. However, if you are using ACH transfer, then it can take up to 4 days.
4. Western Union
Western Union is another very popular money transfer site. There are many different modes available in WU. You can directly transfer your money to mobile wallets. They are also offering cash pickup services to their users. You can directly transfer your money by using the WU app.
The transfer fee is also very minimal. You don’t need to pay any transfer fee up to $5000. After that, you need to pay up to 0.45% fee on your transaction. This fee can differ for debit and credit card transfers.
It can take up to 4 days to transfer your money. You can transfer up to $50,000/day. Thus, WU is perfect for sending a huge amount of money.
WU has more than 500k locations around the world. They also offer flexible transfer modes to its users. You can pay using your bank account, credit card, and debit card. Also, they are managing money transfers since 1871. Thus, WU is a trusted provider.
However, there are some disadvantages to using WU. The exchange rates can be 3-6% more. You can find cheaper options on the market. Also, transfer fees can be high. You need to pay more than 0.5% on every transaction.
These are all the sites that you can use to transfer money from the USA to India. You can use any of these sites for transferring money. If you need to urgently transfer your money, then you need to opt for the fastest option. However, it can be very expensive.
Thus, you should compare the transfer fees and exchange rates of different sites. This will help you in finding the best deal. Also, your recipient should be careful while picking up your money. It is best to avoid high-crime areas.
Also, they should try to deposit money as quickly as possible. Bank transfers can take up to 3-4 days. However, cash pickup will only take a few minutes. Thus, if you need to send emergency cash, then cash pickup is your best option.