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Remittances to India are money transfers from Indian workers employed outside the country to friends or relatives in India. Remitters in the USA send US Dollars, remitters in the UK send Pounds, or remitters in the UAE send Dirhams and the beneficiary in India receives Indian Rupees. Bother the remitter and beneficiary could be either the same person or different.

India is the world's leading receiver of remittances, claiming more than 12% of the world's remittances in 2007. Remittances to India account for approximately 3% of the country's GDP.Since 1991, India has experienced sharp remittance growth. In 1991 Indian remittances totalled 2.1 billion USD; in 2006, they were estimated at between $22 billion and $25.7 billion.

Money is sent to India either electronically (for example, by SWIFT) or by demand draft. In recent years many banks are offering money transfers and this has grown into a huge business. Around 40% of the international remittances flow to the three states of Kerala, Punjab and Goa which are among the top international remittance-dependent economies of the world.

Using NriDelExpert.com's money transfer comparison tool, you need to compare the money transfer deals offered by various providers across Indian Rupee exchange rate, transfer fees and speed of transferring money to your beneficiary in India. We also partner with some providers to blag exclusive money transfer deals for our users. Do not forget to check that out!

While sending money to India from countries like the USA, UK or UAE has become easier and quicker owing to technological advancement, however, as per WorldBank, the overall cost of sending money to India is still very high. For e.g., it costs 2.51% from the USA to India, 3.44% from UK to India and 3.2% from UAE to India. The cost for money transfers to India varies by providers such as banks or money transfer operators (MTOs). There are two components of cost for sending money to India: Foreign Exchange Margin on interbank GBP to INR exchange rates and Charges or Fees. You need to consider both the components for each provider to determine the total cost of money transfers to India. Many money transfers providers to India offer their best deals when you transfer larger amounts. Always check, if you can get a better price for sending money to India by comparing different providers for their minimum transfer amounts, as well as the thresholds for their premium rates.

Many providers offer quicker money transfer to India (example next day service instead of two-day service remittance to India service) for an extra fee. If you need to send money quickly, make sure you consider these extra fees alongside the other charges and the exchange rate of your transfer to India so your comparison includes all the charges.

You will also need to consider how quickly you need to make the transfer and how the transfer works before finalising the provider for money transfer to India.

Similarly, depending on whether it is a one-time transfer or regular transfer, there are providers which offer regular transfer (or Standing Instruction) features where the money is transferred to India automatically at your desired frequency.

Lastly, depending upon your preferred channel for money transfers to India, you need to check which providers offer an online money transfer to India, or by telephone or through a branch, to make sure you get the process that fits your needs.

Using NriDealExpert’s Money Transfer to India comparison table, you can quickly compare the overall cost of services and other features for different providers to find the cheapest and best deal for money transfer to India. Once you’ve identified the best money transfer money provider to India, you need to register yourself with the provider and initiate a funds transfer.

There is no limit to how much money you can send to India from USA, UK and UAE, provided you can show a legal source of funds. However, different money transfer providers or agents may apply different limits to how much money you can send by a channel or in a given time frame. Moreover, in the USA, there is also a limit of US $14,000 per person per year for the tax-free money transfers. Any amount sent above the US $14,000 per person per year, the sender will be responsible for paying the gift taxes in the USA. Though, if you are married and transferring money to your parents, then you and your spouse can gift up to USD 56,000 to your parents (USD 14,000 to each one of your parents from each one of you).

Once you have compared and identified the right money transfer provider, you need to register with that money transfer provider online before you can send money to India.

Before opening your account, the provider needs to verify your identity, for which you will need to give proof of your identity (for example, passport or driving licence number) and address.

Once your account is open, you can transfer funds (either by debit/credit card or bank account transfer) and select the channel of transfer (credit to beneficiary's bank account or cash receipt by the beneficiary.

It could take anywhere between minutes and 5 days to send money to India, which varies by provider. Always check with the provider before you send money to India.

Yes, most money transfer providers allow you to transfer funds to any bank account in India. However, you need to specify the reason for the transfer.

We aim to include all money transfer providers that offer money transfers to India. If our comparison tool doesn't include any provider, then let us know.

We have partnerships with some of the money transfer providers and get paid commission if you sign up with one of them and send money to India.