Comparison of Money Transfer Services to India

Last updated: Tuesday, January 31, 2012

Click here for a comparison of global money transfer service providers.
This frequently updated report presents a detailed comparison of money transfer services available to NRIs. Fund transfers to India are carried out using commonly available services such as wire transfers, demand drafts, checks or tailored services like quick remit, fast cheque etc. This report compares factors such as, 'transfer time', 'transfer fees', 'features and limitations' and 'countries served' to help you identify a suitable service for your specific need.

Interesting facts: Find out which countries are the world's top remittance originating nations and the world's top remittance destination nations.

note Read our comparison report listing the best NRE/NRO savings accounts. Make your hard earned money work harder for you.

note We highly recommend our detailed primer on money transfer to learn about hidden charges and poor rates your transfers may incur.

Transfer fee structure
Each agency has a very distinct charge/fee structure, which makes for a difficult comparison. However, the following tables give a better idea of the charges and limits (move mouse over links in the table). We recommend that you check the respective agency web site for latest information as their services and fees are subject to change.

Citibank: ACH Transfer*
Your view:
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  • Transfer Time: 4 working days.
  • Transfer Fees: No charges (Currency Conversion Charge may apply)
  • Features and Limits (F & L):
    Online transfer size and frequency are limited.
  • Countries Served: US

Speedrank 2
Feesrank 4
F & Lrank 2
Availabilityrank 1
Citibank: Dial-to-Transfer
Your view:
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  • Transfer Time: 1 working day.
  • Transfer Fees: No charges (Currency Conversion Charge may apply)
  • Features and Limits (F & L):
  • Countries Served: US

Speedrank 4
Feesrank 4
F & Lrank 0
Availabilityrank 1
Citibank: Global Transfers Facility
Your view:
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  • Transfer Time: 1 working day.
  • Transfer Fees: No charges (Currency Conversion Charge may apply)
  • Features and Limits (F & L):
    Online transfer size and frequency are limited.
  • Countries Served: Available in

Speedrank 4
Feesrank 4
F & Lrank 2
Availabilityrank 3
Citibank: Wire Transfer
Your view:
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  • Transfer Time: 1 working day.
  • Transfer Fees: No charges (Currency Conversion Charge may apply)
  • Features and Limits (F & L):
  • Countries Served: Available in

Speedrank 4
Feesrank 4
F & Lrank 0
Availabilityrank 2
HDFC: Cheque (LockBox)
Your view:
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  • Transfer Time: 6 working days (16 working days for non-New York cheques).
  • Transfer Fees: No charges (Currency Conversion Charge may apply)
  • Features and Limits (F & L): Unlimited Transfer
  • Countries Served: US

Speedrank 1
Feesrank 4
F & Lrank 5
Availabilityrank 1
HDFC: Cheque Deposit
Your view:
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  • Transfer Time: Processing time
  • Transfer Fees: No charges (Currency Conversion Charge may apply)
  • Features and Limits (F & L): Unlimited Transfer
  • Countries Served: Available in

Speedrank 1
Feesrank 4
F & Lrank 5
Availabilityrank 2
HDFC: IndiaLink (Exchange Houses)
  • Transfer Time: 1 working day (3 working days for Demand Draft).
  • Transfer Fees:
  • Features and Limits (F & L):
  • Countries Served: Available in

Speedrank 3
Feesrank 0
F & Lrank 0
Availabilityrank 2
HDFC: QuickRemit
Your view:
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  • Transfer Time: 3 working days (1 working day from Singapore).
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L): Online transfer size and
    frequency are limited from US, UK and Europe.
  • Countries Served: Available in

Speedrank 3
Feesrank 4
F & Lrank 3
Availabilityrank 2
HDFC: Wire Transfer
Your view:
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  • Transfer Time: 1 working day.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L): Available from the rest of the world.
  • Countries Served: Available in

Speedrank 4
Feesrank 4
F & Lrank 2
Availabilityrank 2
HSBC: Demand Draft
Your view:
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  • Transfer Time:
    3 working days (INR draft)
    14-21 working days (Foreign currency draft)
  • Transfer Fees:
    Rs 50 (upto Rs 100,000)
    0.1% of DD amount (over Rs 100,000)
    0.3% of DD amount (drawn on other bank)
  • Features and Limits (F & L): Guaranteed exchange rate
  • Countries Served: Available in

Speedrank 2
Feesrank 3
F & Lrank 3
Availabilityrank 2
HSBC: FastCHEQUE
Your view:
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  • Transfer Time: 3-5 working days from deposit
  • Transfer Fees: No charge
  • Features and Limits (F & L): Rs 50 (Currency conversion charge)
  • Countries Served: Middle East

Speedrank 3
Feesrank 4
F & Lrank 3
Availabilityrank 1
HSBC: Wire Transfer
Your view:
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  • Transfer Time: 2 working days
  • Transfer Fees: No charges
  • Features and Limits (F & L): Rs 50 (Currency conversion charge)
  • Countries Served: Available in

Speedrank 4
Feesrank 4
F & Lrank 3
Availabilityrank 2


ICICI: Branch-based
Your view:
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  • Transfer Time: 3-7 working days.
  • Transfer Fees: No Charges for Transfers to ICICI Accounts
  • Features and Limits (F & L):
  • Countries Served: UK

Speedrank 2
Feesrank 4
F & Lrank 0
Availabilityrank 1
ICICI: E-transfer (ACH Transfer)*
Your view:
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  • Transfer Time: 1 working day.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L):
  • Countries Served: US, Canada

Speedrank 4
Feesrank 3
F & Lrank 0
Availabilityrank 1
ICICI: Exchange Houses
Your view:
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  • Transfer Time: 1-7 working days.
  • Transfer Fees:
  • Features and Limits (F & L):
  • Countries Served: Middle East, Qatar, Singapore

Speedrank 2
Feesrank 0
F & Lrank 0
Availabilityrank 1
ICICI: LockBox
Your view:
loading
  • Transfer Time: 3-7 working days.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L):
  • Countries Served: US, UK, Europe

Speedrank 2
Feesrank 3
F & Lrank 0
Availabilityrank 1
ICICI: Net Express (Direct Debit)
Your view:
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  • Transfer Time: 5 working days.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L):
  • Countries Served: US, Australia, Europe, Singapore

Speedrank 2
Feesrank 3
F & Lrank 0
Availabilityrank 1
ICICI: Power Transfer (Wire Transfer)
Your view:
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  • Transfer Time: 2-3 working days.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L):
  • Countries Served: US, UK, Europe, Middle East, Qatar

Speedrank 3
Feesrank 3
F & Lrank 0
Availabilityrank 1
ICICI: Wells Fargo Express Send Service
Your view:
loading
  • Transfer Time: 1 working day.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L):
  • Countries Served: US

Speedrank 4
Feesrank 3
F & Lrank 0
Availabilityrank 1
SBI: Demand Draft
Your view:
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  • Transfer Time: 4-5 working days.
  • Transfer Fees: US , UK , Australia , Canada
  • Features and Limits (F & L):
  • Countries Served: US, UK, Australia, Canada

Speedrank 2
Feesrank 2
F & Lrank 0
Availabilityrank 1
SBI: Instant (Electronic) Transfer
Your view:
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  • Transfer Time: 1 working day.
  • Transfer Fees: US , UK , Australia , Canada
  • Features and Limits (F & L):
  • Countries Served: US, UK, Australia, Canada

Speedrank 4
Feesrank 2
F & Lrank 0
Availabilityrank 1
SBI: Wire Transfer
Your view:
loading
  • Transfer Time: 2-3 working days.
  • Transfer Fees: US , UK , Australia , Canada
  • Features and Limits (F & L):
  • Countries Served: US, UK, Australia, Canada

Speedrank 3
Feesrank 2
F & Lrank 0
Availabilityrank 1
MoneyBookers:
Your view:
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  • Transfer Time:
    Bank transfer: 2-5 working days
    Credit card: Instantly
    Cheque: Upto 10 days
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L): Withdrawals only through a MoneyBookers account.
  • Countries Served: Available in

Speedrank 4
Feesrank 3
F & Lrank 2
Availabilityrank 4
iKobo:
Your view:
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  • Transfer Time: 4-8 working days
  • Transfer Fees: Transfer fee
    Additional fee
  • Features and Limits (F & L): Withdrawals only through
    iKobo Visa card.
  • Countries Served: Anywhere Visa is accepted.

Speedrank 2
Feesrank 3
F & Lrank 4
Availabilityrank 4
Remit2India: Rupee Express (ACH Transfer*)
Your view:
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  • Transfer Time: 4-5 working days.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L): No fee for amounts over $1000.
  • Countries Served: US

Speedrank 2
Feesrank 3
F & Lrank 3
Availabilityrank 1
Remit2India: MoneyBookers
Your view:
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  • Transfer Time: 1 working day.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L): Additional processing charge - 3.95% of transfer amount.
  • Countries Served: US, UK

Speedrank 4
Feesrank 3
F & Lrank 2
Availabilityrank 1
Remit2India: UK Banks
Your view:
loading
  • Transfer Time: 1 working day.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L):
  • Countries Served: UK

Speedrank 4
Feesrank 3
F & Lrank 0
Availabilityrank 1
Remit2India: LockBox
Your view:
loading
  • Transfer Time: 5 working days.
  • Transfer Fees:
  • Features and Limits (F & L):
  • Countries Served: US, UK

Speedrank 4
Feesrank 3
F & Lrank 0
Availabilityrank 1
Remit2India: Wire Transfer
Your view:
loading
  • Transfer Time: 1 working day.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L):
  • Countries Served: US, UK, Australia, Canada, Europe

Speedrank 4
Feesrank 3
F & Lrank 0
Availabilityrank 1
Remit2India: Credit Card
Your view:
loading
  • Transfer Time: 1 working day.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L):
  • Countries Served: US

Speedrank 4
Feesrank 3
F & Lrank 0
Availabilityrank 1
Remit2India: Online Bank Transfer
Your view:
loading
  • Transfer Time: 5 working days.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L):
  • Countries Served: UK, Australia, Canada, Europe

Speedrank 2
Feesrank 3
F & Lrank 0
Availabilityrank 1
Xoom: Online Transfer
Your view:
loading
  • Transfer Time:
    Value service: 2-5 working days
    Standard service: Instantly.
  • Transfer Fees: Transfer fee
  • Features and Limits (F & L):
  • Countries Served: Available in

Speedrank 4
Feesrank 3
F & Lrank 0
Availabilityrank 4

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