Transfer Money Guide

I have money transfer experience (dollars / pounds / euros) for over 3 years now and I have used all major services mentioned here. And I would weigh in pros and cons of each service to help you ultimately decide your go-to money transfer service.

Pros & Cons of each service:

XendPay -> Referral link  XendPay 

Image result for xendpay

Pros:

  • Decide your own transfer rate
  • Guaranteed Exchange Rate
  • Amazing customer support available 24/7
  • Supports transfers to NRE & NRO accounts (in India)
  • Other modes of delivery in India: Cash Pickup by recipients, Cash Delivery
  • 100% money-back guarantee
  • Available as an app on iOS & Android
  • Signing up using the referral link will enroll you to receive the promotional bonus ( 10 USD / Euros / GBP as joining bonus  – XendPay LINK) 

Cons:

  • Instant service not available
  • Credit Card transfers are charged based on the amount transferred
  • You have a daily and half yearly sending limits, which can be raised based on the usage (You can request to raise those limits by sharing required documentation )

Note: XendPay gives promotional gift cards to referred new customers. It normally 10USD/ Euros/GBP, based on their referral policy.


Remitly  Referral link -> Remitly 

Pros:

  • No fees on transfers over $1000 /1000 GBP / 1000 Euros
  • Guaranteed Exchange Rate
  • 24/7 Customer Support
  • Free Debit Card based transfers, but only on Express mode with lower rates
  • Available as an app on iOS & Android
  • Signing up using the referral link will enroll you to receive the promotional bonus (a special exchange rate for your first transfer)

Cons:

  • Fee of $3.99 for transfers below $1000
  • Take 3 business days to transfer from your Bank account
  • Instant deposit rates are not better than Xoom’s
  • 3% fee on Credit Card transactions
  • You have a daily and half yearly sending limits, which can be raised based on the usage (You can request to raise those limits by sharing required documentation as it is required by the US Law)

Note: Remitly promotional value is adjusted in their first time transfer rate. You’ll have a much better rate for your first transfer which equates to approx. $20/18 GBP if you transfer $2500 / 2000 GBP.


TransferWise -> Referral link TransferWise

Pros:

  • Current mid-market exchange rate, as you can see on XE .com
  • Customers have transferred $4.5bn using the platform
  • Price Match Guarantee
  • Available as an app on iOS & Android
  • Signing up using the referral link will enroll you to receive the promotional bonus (Zero fees for your first transfer, limits apply)

Cons:

  • No transfers are free. You are always charged a 0.9% of your total transfer amount, which brings down the effective transfer rate
  • The transfer takes about 3 days and for some new customers it can take upto 5 days, however your committed rate remains same as of the transaction date
  • You have a daily and half yearly sending limits, which can be raised based on the usage (You can request to raise those limits by sharing required documentation as it is required by the US Law)

Note: TransferWise gives promotional benefits to referred new customers. Your first transfer fee is waived off (transfer limits apply).


Azimo -> referral link Azimo 
Image result for azimo
Pros:
  • Guaranteed Exchange Rate
  • Zero Transfer Fee available on Debit cards
  • Sending limits increased automatically based on usage
  • Signing up using the referral link will enroll you to receive  10 GBP / 10 USD / 10 Euro Joining bonus (Zero fees for your first transfer, limits apply)

Cons:

  • Heavy Credit Card Fees
  • It takes 3-5 days to complete your transfer
  • You have a daily and half yearly sending limits, which can be raised based on the usage (You can request to raise those limits by sharing required documentation)

Note: Azimo offers joining bonus to newly referred customers (terms & conditions change periodically).


WorldRemit > Referral link  Worldremit

  • Really fast service (after first few transactions it takes me not more than 6 hours to send money to India).
  • No hassle.
  • Very reliable service.
  • competitive price in the market.
  • 20GBP / 20 USD / 20 Euro off on first transaction if you join by referral link  Worldremit

Cons:

  • You have a daily and half yearly sending limits, which can be raised based on the usage (You can request to raise those limits by sharing required documentation)
Note: Worldremitoffers joining bonus to newly referred customers (terms & conditions change periodically).
TransferGo > Referral link  transfergo  register with code    61qQub 
Pros:
  • Money-back guarantee
  • Cash pickup available in India
  • Available as an app on iOS & Android
  • Promotional rates available for new users periodically

Cons:

  • Rate for instant bank transfers is too less compared to Azimo / Remity
  • You have a daily and half yearly sending limits, which can be raised based on the usage (You can request to raise those limits by sharing required documentation )

Note: First time transfergo  users get free transaction

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