Money transfer to India - Update

From	: Eurozone / Rest of the World
To	: India (INR)
With reference to previous blog Money transfer to India. Here is an update with comparison of top three service providers. Transferwise : From the developers of Skype, funded by Sir Richard Branson transferwise is easy and hassle free money transfer service with less service charges Yesremit: Powered by Yesbank, gives additional 50p per every Euro. Money2India: By ICICI has little advantages (see below) but lower currency conversion rates Others: click2remit (by Kotak), Worldremit, Axisremit etc...... Comparision of (Transferwise vs Yesremit vs Money2india) As on: 18.06.2015 For 1000 Euro Service provider TransferWise Yesremit Money2India Euros 1000 1000 1000 Exchange rate 72.67 71.81 72.00 Service charges 6.96Eur /1000Euro 0 0 Effective currency rate 72.16 71.81 72.00

Conclusion: Compare to hidden charges by bank. Transferwise is still better option to opt.

For first transaction upto 3000 GBP (Equivalent other currency) transaction fee is FREE. Which is equivalent to 30€.

To get this first transaction free: Click this below link or copy paste below link in your URL.

https://transferwise.com/u/eb0413

Points to be noted:

• Normal sign up will not have first transaction free.. only referral links like above will get first transaction free and save upto 30€.
• Always use proper name as in Bank details/Passport.
• Your account name and bank account name shall match.
• You may have to send passport copy to customer care for first time to verify the ID.

Other details are similar to Money transfer to India – Part1 post.

 

Source	Personal Experience