International Money Transfer from India (2026) – Charges, Methods & Step-by-Step Guide

Sending money from India to another country is now easier than ever. Whether you’re paying overseas education fees, supporting family abroad, or making a business payment, Indian banks and apps offer multiple safe and RBI-approved international transfer options.

Here’s a clear, beginner-friendly guide in simple Indian English.

Quick Summary

• Who can send? Indian residents with a savings/current account
• Governing rule: RBI’s Liberalised Remittance Scheme (LRS)
• Annual limit: Up to USD 2,50,000 per financial year
• Modes available: Bank wire, online apps, forex cards
• Processing time: Instant to 2–3 working days (varies)

Popular Ways to Send Money Abroad from India

1. Bank International Wire Transfer (SWIFT)

Most Indian banks (SBI, HDFC, ICICI, Axis, Kotak, etc.) allow international remittance through SWIFT.

Used for:

• Education fees
• Medical expenses
• Overseas investments
• Family maintenance

Details required:

• Beneficiary name & address
• Bank name & address
• SWIFT/BIC code
• Account number / IBAN
• Purpose of remittance

Charges (typical):

• ₹500 – ₹1,500 per transaction
• Plus GST + forex margin

Time taken: 1–3 working days

2. Online International Money Transfer Apps

These are popular due to lower charges and faster processing.

Commonly used platforms:

• Wise
• Western Union (online)
• PayPal (for business/freelance payments)
• Bank-partnered remittance portals

Benefits:

• Transparent exchange rates
• Lower fees than banks
• Easy online tracking

Time taken: Instant to 24 hours (varies by country)

3. Foreign Currency (Forex) Cards

Forex cards are mainly used for travel, but can also support certain overseas payments.

Best for:

• Students going abroad
• Frequent travellers

Limit: Linked to LRS limit
Currencies: USD, EUR, GBP, AUD, etc.

4. International UPI & Wallet Transfers (Limited)

Some Indian apps support cross-border transfers to selected countries.

• Mostly available for inbound & limited outbound transfers
• Coverage depends on country and banking tie-ups

RBI Liberalised Remittance Scheme (LRS) – Explained Simply

Under LRS, an Indian resident can send money abroad for permitted purposes.

Allowed purposes include:

• Education
• Medical treatment
• Travel
• Gift to relatives
• Maintenance of close family
• Overseas investments

Not allowed:

• Gambling
• Lottery
• Prohibited speculative activities

Documents Required for International Transfer

• PAN card (mandatory)
• Bank account details
• Beneficiary details
• Purpose code (as per RBI)
• Form A2 (usually auto-generated online)

International Money Transfer Charges from India

Charges usually include:

1. Transfer fee – Flat or slab-based
2. Exchange rate margin – Difference from interbank rate
3. GST – On fees & forex margin

Tip: Online platforms usually offer better exchange rates than banks.

FAQs: International Money Transfer from India

• Wrong SWIFT/IBAN → Transfer delay or return
• PAN not linked → Transaction failure
• LRS limit exceeded → Remittance blocked
• Incorrect purpose code → Compliance hold

Always double-check beneficiary details before confirming.

Security Tips

• Use only RBI-authorised banks/apps
• Never share OTP or net banking password
• Avoid public Wi-Fi while transferring
• Save transaction receipts for records

Conclusion

International money transfer from India is simple, legal, and well-regulated. For large or formal payments, bank SWIFT transfers are ideal. For smaller or frequent transfers, online remittance apps are usually faster and cheaper.

Before sending, always compare:

• Exchange rate
• Total charges
• Delivery time