On my lookout for the cost-effective way to transfer money from europe to us xendpay is the most recent entry to my list.
It has become one of my favourites – majorly for the reason that they offer a ‘Pay What You Want‘ option initially which means you can pay whatever fee you want for the money transfer.
In addition to this, xendpay offers very competitive rates on the market which many times beats Transferwise as well making Xendpay another cheap way of sending funds to India.
And, who doesn’t want extra per every British Pound?
A few things which I liked about Xendpay:
Transparency in conversion rate, transfer costs and cheap fee (Zero initially under ‘Pay What You Want’ model – Xendpay allows you to enter ‘0’ (impressive!), but I suggest you pay some amount for Xendpay to keep providing this great offer!)
Transfer from the europe to us on average took 2-3 working days (most of the times it arrived in my bank account in India on the 2nd business day).
Verification process to extend your transfer limits is easy – just upload two documents, one for address and one for identity proof and it for me, got verified on the same day.
Bonus Tip: Take advantage of Xendpay promo code and get £10 off whenever you transfer your first $100 (approx. £70). If you transfer your first £70, you will pay only £60 from your bank account – a flat discount of 14%. This means an extra Rs. 1000 in your account on your first transfer with xendpay
Banks never give such offers!
How to send money with xendpay?
Transferring money to India using Xendpay is quite straight-forward. Just like shopping on Amazon!
- Create an account on Xendpay and login to your profile.
- Look out for ‘Send Money’ tile on the Dashboard. That takes you to Currency Calculator where you can enter the amount of GB Pounds you want to convert to Indian Rupees.
- When you use Xendpay for the first time, it will allow you to transfer only £900. If you want this limit removed, you can upload your identity and address proof documents to get your account verified.
- Enter recipient details – you need to enter these only for the first time, and you can re-use them for future transfers.
- Next, review the details and make a payment using one of the payment methods presented. Use bank transfer or debit card instead of a credit card to avoid any additional charges. Confirm your request!
Bonus Tip: If you use my link to sign up, you will get £10 off your first transfer (find more details about Xendpay offer here). So, if you use the full limit for an unverified account, you will only pay £890 to transfer £900 to India.