Send money to India from the USA: compare rates, fees and speed
NRIs in the USA can send money to India via online providers like Wise and Remitly, US banks via SWIFT wire, or specialist exchange services. The key metric is the total INR received — mid-market rate minus provider spread minus flat fees. A $10,000 transfer at a 0.5% worse rate costs around $50 extra.
Compare total INR received, not just the headline rate
For USD-to-INR transfers from the USA, compare the final INR received after the provider's exchange-rate spread and all fees. Wise typically uses the mid-market rate plus a small fee. Bank wires are slower and often have a larger spread. For large transfers, even a 0.3% rate difference is significant.
Key points
- Spread is the hidden cost — The gap between mid-market and the provider's offered rate is often larger than the flat fee — check both before sending.
- Compare total INR — Enter the same USD amount on Wise, Remitly and your bank and compare the INR your recipient will receive, not just the exchange rate.
- Delivery time varies — Wise and Remitly typically deliver in minutes to 1 business day. Bank SWIFT wires can take 2–5 days and attract correspondent bank fees.
How to compare providers
Go to each provider's website or app and enter the same USD amount and India destination bank. Record: the exchange rate offered, all fees, and the estimated delivery time.
Calculate the effective USD cost: total INR received ÷ mid-market rate = effective USD. Compare effective USD across providers — the highest number wins.
For transfers above $10,000, also check if the provider offers a rate lock or forward contract.
US bank wire vs online provider
US bank SWIFT wire: typically charges $25–$45 outgoing fee plus a spread of 2–4% over mid-market. Recipient bank may charge an incoming fee.
Wise: charges a transparent fee (typically 0.4–0.8% of transfer amount) on top of the mid-market rate. No spread markup.
Remitly: charges a small flat fee plus a spread that varies by transfer size and speed — express is faster but more expensive.
Exchange houses (in Indian-American communities): competitive for cash pickup but check INR delivery rate carefully.
Frequently asked questions
Is there a limit on how much I can send to India from the USA?
India has no cap on inward remittances. US FBAR and FATCA rules apply to foreign accounts, and transfers above $10,000 may trigger FinCEN reporting in the US — but sending money to India is not restricted.
Which is cheaper, Wise or Remitly?
It depends on the amount and speed. Wise is generally cheaper for larger amounts due to its percentage-based fee structure. Remitly may be competitive for smaller amounts, especially for first-time senders who get a promotional rate.
Can I send USD directly to an NRE account in India?
Yes. NRE accounts accept inward foreign currency remittances. The bank converts at its own rate — compare this rate with a direct provider transfer to the same NRE account.