When transferring money to India, consider the fees, the speed of the delivery, and the quality of the online customer service. Find five that give you an edge over the competition. Examine the areas in which each excels.

Union

Transferring money from a bank account in the United States to one in India using your mobile device or internet is free with Western Union. The mix of a low markup on the exchange rate and the absence of fees results in some of the most affordable transfers compared to other providers, despite delivery taking anywhere from four to five working days. If you pay using a credit or debit card, the transaction may incur additional costs and markups; however, your money will be available the next business day. The maximum amount that may be sent in a single transfer is $9,750; however, this might vary based on the selected payment and delivery choices.

Transfast

Transfast, just like Western Union, allows its customers to send money to India free of charge. When you use the Value+ service offered by the firm to transfer money between bank accounts in the United States and India, you won't be charged any fees, and the markup on the transfer will be minimal. The delivery time is between three and five business days, and the maximum amount that can be sent in a single transfer is $10,000; however, the monthly limit varies depending on the client.

If you want your money to get to its destination more quickly, you may use the Fastrack service offered by the company. However, the exchange rate you receive will be less advantageous, and you will be charged a price ranging from $5 to $50. In addition to being sent to an existing bank account, your transfer may be sent as cash and made available for collection at any of the more than 34,000 financial institutions and businesses that Transfast works with.

Xoom

On its web-based platform, the financial services provider Xoom places a premium on speed. PayPal owns Xoom. It will take less than four hours for the cash to be sent to an Indian bank account during Indian bank hours, irrespective of whether your funds originate from a bank account in the United States, a debit card, or a credit card. At certain banks, the arrival of some transactions might be as quick as in minutes.

However, Xoom's prices are higher than those of its competitors. Transfers made via a bank account incur costs ranging from $3 to $5; however, if you send more than $1,000, there are no transfer fees. Using a debit or credit card will incur costs ranging from $5 to $20 while using Xoom. Even if its exchange rates have a greater markup than some of its rivals, Xoom's rates are still superior to those offered by many banks in the United States. Although the most you may send in a single transaction is $2,999, the daily cap might be greater.

MoneyGram

Like Xoom, MoneyGram's strength resides in speed. Transferring money between bank accounts in the United States and India may take a few hours, in contrast to the many business days required by some rivals for this transfer. Other MoneyGram transfers may be paid for with cash at agent branches or with a credit card, debit card, or prepaid card online. In either scenario, money may arrive within a matter of minutes, like that of Western Union and Ria.

The pricing structure of MoneyGram is quite comparable to that of Xoom. Transfers paid by cards may incur up to $20, whereas transfers funded by bank accounts can incur fees of up to $5 or none if the amount being sent is more than $1,000.

Wise

Concerning transferring money to India from the United States, Wise provides the best online experience possible. Their mobile app has received ratings of 4.5 stars or higher. Either on your mobile device or its website, you can immediately use a calculator to calculate fees and see the most up-to-date exchange rates. This can be done using an email address or by linking your Google or Facebook account. You may send or cancel transfer requests via the mobile app and online. You are needed to have a bank account on both the sending and receiving ends, and most states allow you to send up to one million dollars.

Although inexpensive, Wise does not offer the lowest fees for money transfers to India. Although it does not mark up its exchange rate to make a profit as other providers do, which means that you receive more rupees per U.S. dollar, there is a charge of $2.70 to send up to $300, and there is a fee of 0.9% of the transfer cost for sums that are more than that. Other service providers, such as Western Union and Transfast, on the other hand, provide certain fee-free transfers to India and minimal markups on currency rates, which results in overall prices that are less expensive than those offered by Wise.