Sending money abroad in 2025 is easier than ever, but costs vary a lot. Banks still charge heavy fees, while fintech apps and forex cards offer cheaper, faster transfers. Here’s a clear breakdown of the best and most affordable ways for Indians to send money overseas.
India Snapshot
- Methods Available: Bank wire (SWIFT), fintech remittance apps (Wise, InstaReM, Remitly), forex cards (HDFC, ICICI, Axis), debit/credit card spends.
- Transfer Speed:
- Bank remittance: 1–3 working days.
- Apps: Same day or 24 hrs.
- Cards: Instant for payments, costly for cash.
- Charges:
- Banks: ₹500–₹1,000 per transfer + 3–5% forex markup.
- Apps: Lower fee + real-time exchange rates.
- Cards: 3.5% forex markup on spends.
- GST & TCS: 18% GST on fee + 5%–20% TCS under LRS above ₹7 lakh/year.
Compare transfer rates & save money in 2025:
Check Remittance Offers on Paisabazaar
See Forex & Transfer Options on BankBazaar
Option 1: Bank Remittance (SWIFT Transfer)
- Reliable, works for large amounts (tuition, property).
- Charges: ₹500–₹1,000 per transfer + 3–5% markup.
- Takes 1–3 working days.
- Good for: High-value transfers >₹10 lakh.
Option 2: Fintech Remittance Apps (Wise, InstaReM, Remitly)
- Transparent mid-market rates, fee 0.5–2%.
- Same-day or 24-hour transfers.
- Linked with UPI/NetBanking.
- Good for: Education fees, family remittances, freelancers.
Example: Wise charges ~1% fee with real-time rates.
Option 3: Forex Cards
- Preload INR, spend abroad in USD/EUR/GBP without extra markup.
- Zero/low cash withdrawal fee.
- Offered by HDFC, ICICI, Axis, SBI.
- Good for: Students & travellers.
Option 4: Debit & Credit Cards
- Instant, but costly at 3.5% forex markup.
- Useful for small spends or emergencies.
- Not ideal for planned transfers.
Cost Comparison
| Method | Cost (Markup + Fee) | Speed | Best For |
|---|---|---|---|
| Bank Remittance | 3–5% + ₹500–₹1,000 | 1–3 days | Large amounts (₹10 lakh+) |
| Apps (Wise etc.) | 0.5–2% | Same day / 24 hr | Education, freelancers, family |
| Forex Cards | 0–1% | Instant spend | Students, travellers |
| Credit/Debit Card | ~3.5% | Instant | Small spends, emergencies |
Pros and Cons
Bank Remittance
Safe for high-value transfers
High charges + slow
Apps
Cheapest, fastest
Limits may apply
Forex Cards
Best for travel/study
Preload required
Cards
Instant spend
Expensive markup
Smart Strategy for 2025
- Use apps (Wise, InstaReM) for small–mid transfers.
- Use forex cards for travel/study abroad.
- Use bank remittance for big-ticket transfers.
- Avoid credit/debit cards for routine spends—too costly.
Save on every transfer in 2025:
Compare Remittance Options on Paisabazaar
Check Forex & Transfers on BankBazaar
In 2025, Indians have more choices than ever to send money abroad. While banks remain safest for large sums, fintech apps and forex cards are cheaper and faster. The smartest approach? Use bank transfers for big-ticket needs, apps for regular remittances, and forex cards for travel or study.
