Many Indians who moved to the UK for decent income and career growth prefer to provide financial support to their loved ones in India. Therefore, the question arises of how to send money to India from UK. This article will look at various payment services that provide transfers and exchanges.
Introductory information
To answer how to transfer money from UK to India, you need to know what payment systems exist to make international money transfers to an account in India. When choosing a payment service, it is recommended to pay attention to their main characteristics:
- Speed of money or rewards transfer. For many Indians, the speed of translation may be necessary. Some systems have the best online translation speed – in a matter of minutes.
- Pound Sterling (GBP) to Indian Rupee (INR) exchange rate – If this feature is essential, choose the best exchange rate for transfer money from UK to India.
- Commission percentage for transferring money to the Bank of India. Each payment system presents its commission amount for online funds transfer services. The rate may depend on the transfer amount and the payment service itself. In this case, an Indian must choose the cheapest way to send money to India from UK.
- Ease of use. For many Indians, the service’s clarity and ease of use are essential to avoid confusion in the application interface menu and avoid making mistakes. In this case, you must choose the best application for transferring money from the UK to India, which will be as straightforward as possible.
- The maximum limit for money transferer from UK to India. It can be important when sending a significant amount. There are also limits on monthly or annual amounts.
Therefore, when choosing a payment service, you need to focus on the priority characteristics for transferring funds.
A guide to payment services for making transfers
To make it easier for Indians to navigate the choice of a service for transferring money, in this section, we will present in more detail the most popular transfer steps to find out how to send money to India from UK using various payment providers.
Wise
This service has a high level of security and transparency, having virtually no analogs. Wise provides various financial services that are as clear and simple as possible. It’s also the cheapest way to send money to India from UK. If we talk about disadvantages, sending money may be delayed for several days, and there is no way to receive a transfer in cash. Inconveniences include the need to confirm the current account and the need for status to monitor the wire transfers.
Remitly
Compared to Wise, this payment system provides the opportunity to receive cash. There are also various translation options. This financial provider is top-rated for international transfers because the system is quite reliable. If no commission is paid, the transfer will arrive in three days; in expedited sending, you need to pay a fee, and the recipient will have the money in 4 hours. The maximum limit for money transferer from the UK to India is 30,000 USD. As a disadvantage, 35% of commissions will be hidden in the exchange rate margin.
Xoom
This financial platform is presented by the PayPal system and is considered one of the fastest – the transfer of finances is completed in a matter of minutes. Convenience for transfers up to 1000 USD is the fixed commission amount, which does not depend on the transfer amount. A 3-3.2% variable commission will be charged if the amount is higher.
Hoom is the best exchange rate to transferer money from UK to India, which is 0.5-1.5%. It is important to note that the money transfer can be done online to the recipient’s offline mode, which means the recipient in India does not need an online connection to receive the money.
The disadvantages include the following aspects:
- limit on the transfer amount per day up to 2999 USD;
- there are restrictions on the total transfer amount per month and over 2 years;
- considering the variable fees, Hoom is slightly more expensive than other financial providers.
By the way, restrictions on the amount may depend on the rating of your account in this system.
PayPal
PayPal is the best app to send money to India from UK. This is because the finance transfer does not require a credit card best or bank account. This payment system is very convenient and has a high degree of reliability thanks to special encryption. It is worth noting that the account is activated if the sender enters all the necessary data. The duration of the transfer is three days at maximum.
In addition, for personal use, commissions are not charged, so if an Indian has a question about how to transfer money from UK to India without charges, then the clear answer is PayPal.
Disadvantages include a somewhat unfavorable exchange rate and commission fees for commercial transfers.
Profile
It is the best app to send money to India from UK. This provider is popular due to its security, low commissions, and favorable exchange rates. The interface is well thought out and easy to use. Sending money is completed in a few minutes. It is possible to open a multi-currency vault and card. But there are also disadvantages: the American dollar is not supported. Regardless, Profee is the best money transfer to India from UK in GBP with a favorable exchange rate to Indian Rupees.
Western Union
If an Indian has a question about how to send money to India from UK in a reliable way, the answer will be Western Union – the leader in transfers in the world market. It is one of the most popular payment providers in the world. You can make transfers for up to 50,000 USD per day from various banks in India. The platform is characterized by high quality and ease of use.
There are still some disadvantages:
- international money transfer takes approximately a week;
- not very favorable exchange rates;
- commissions are not always transparent.
Please note that fees are proportional to the amount transferred, so there is the cheapest way to send money to India from UK.
MoneyGram
This payment provider is a direct competitor of Western Union. With its help, you can also make the best money transfer to India from UK due to the high reputation of the platform (very reliable protection against cyber criminals). Funds can be transferred in 50 currencies with various payment options available. This service is an excellent transfer method to receive it in cash. You must create a website or mobile application account to use the service. The transfer will arrive at least ten minutes after sending your savings to relatives.
Despite several advantages, there are also disadvantages:
- not the most attractive commissions;
- not consistently favorable exchange rates;
- a country such as the UK will require various documents to complete the transfer;
- monthly transfer limit – up to 10,000 USD.
Therefore, as with Western Union, bank transfers will not be the cheapest compared to other providers. But still, many Indians believe that MoneyGrem is the best money transfer app from UK to India.
PaySend
Let’s figure out how to send money to India from UK using Paysend. Users highly value this platform as it is one of the most reliable services for international transfers. Thanks to the official website and mobile application, sending a transfer on favorable financial terms (low commissions) is possible. In addition, the provider has attractive exchange rates. When paying, use credit and debit cards.
How to transfer money from UK to India without charges? The inconvenience is that transfers are only possible from a bank card. It is important that only a UK resident can make a transfer (that is, an Indian must live in this country for more than 185 days a year).
WorldRemit
How to transfer money from UK to India, ensuring high reliability of the transfer? – the answer will be the WorldRemit provider. This platform is also top-rated due to its ease of use. The platform provides many different options for transferring funds and receiving cash at the point of delivery. In addition, the service has excellent customer support.
The downside is that the transfer option is not the cheapest due to the non-transparency of the commissions included in the exchange rates.
Instagram is a platform that will answer how to transfer money from UK to India without commission. This service is considered reliable and popular, allowing you to make transfers as cheaply as possible. Additionally, this provider offers competitive exchange rates. It is the cheapest payment system to send a Rupee transfer to India from UK. The only drawback is the long registration process.
Conclusion
This article has examined many options to find the best money transfer app from UK to India. All financial providers have many advantages, but there are also disadvantages. There is no ideal transfer service. For an Indian to make a choice, it is necessary to decide on the priority characteristics and proceed from this when translating.
For each transfer, you will have to use more than one system since there may be different amounts and degrees of importance of the speed of payments and the conditions for receiving them. It is strongly recommended that you study the transfer conditions in detail before using a particular payment system.
