Thanks to IT revolution in India. Many of Indians get opportunity to work abroad. While working abroad, everyone wants to send money back home and tries to research for the options and reviews. We are putting together reviews below and the advances of each service. We have shortlisted 5 services till yet and also providing the link to get joining bonus for each service.
First of all, the leader is Transferwise
Pros:
- Trusthworthy
- world leader in money transfer
- can deliver money in couple of minutes once you have transferred to the same account couple of times
- competitive rates
- first transfer free when u use this link > TransferWise
- Widest network and hence you can transfer from almost anywhere to anywhere in the world
- Available as an app on iOS & Android
Cons
- first transfer can take longer
- other services can give better rates at times. So, good idea to check other sites listed below
Orbitremit
Pros:
- most of the time better transfer rates than Transferwise
- First transfer free using link > ORBIT REMIT
- loyality benefits earn free transfer on 3 transfers (which makes the transfer cheaper)
Cons:
- Only available from UK, New Zealand and Australia to other countries
- stringent verification process
XendPay
Pros:
- You can decide your own transfer fee i.e. you have option to pay as low as ZERO transfer fee
- Guaranteed Exchange Rate
- Supports transfers to NRE & NRO accounts (in India)
- Signing up using the referral link will enroll you to receive the promotional bonus ( 10 USD / Euros / GBP as joining bonus – refer my blog for details)
- link to join > XendPay
Cons:
- No instant transfer possible
- limits on daily and half yearly transfer limits which get raised on regular usage
Note: XendPay gives promotional gift cards to referred new customers. It normally 10USD/ Euros/GBP, based on their referral policy.
Remitly
Pros
- No fees on transfers over $1000 /1000 GBP / 1000 Euros
- Cash delivery options available
- Competitive price
- Special promo prices for first $1000 /1000 GBP / 1000 Euros if you join using link: Remitly
Cons:
- Fee of $/£/ Euros 3.99 for transfers below $/£/Euros 1000
- Take 3 business days to transfer from your Bank account
- Instant deposit rates are not better than others
- 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 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. $/£/Euros 20 if you transfer $/£/Euros 2500.
Azimo
Pros:
- competitive rates
- Different options for money delivery in India
- Signing up using the referral link will enroll you to receive 10 GBP / 10 USD / 10 Euro Joining bonus (Zero fees for your first transfer, limits apply)
- link to get joining bonus: Azimo
Cons:
- Heavy Credit Card Fees
- You have a daily and half yearly sending limits, which can be raised based on the usage (You can request to raise those limits by sharing required documentation)
Note: Azimo offers joining bonus to newly referred customers (terms & conditions change periodically).
TransferGo
Pros:
- Money-back guarantee
- Cash pickup available in India
- Available as an app on iOS & Android
- Promotional rates available for new users periodically
- Free transfer and 20£/$/Euro for first time user if you join using link: https://my.transfergo.com/en/r/61qQub
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
WorldRemit
Pros:
- Promotional rates available for new users periodically
- Covers almost the whole world
- Sometimes better rates than competitors
- 20£/ 25 $/ 25 Euro for first time user if you join using link here
- BONUS for the UK Users:
- Join TopCashback
- Join Worldremit
- Open TopCashback
- Seach for Worldremit and navigate to worldremit and then send money. You will get additional bonus of 15£ for sending money via Worldremit in your topcashback account. Along with 20 GBP bonus with Worldremit.
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 )
have fun sending money home!