What are the cheapest options for international bank/money transfers?

transferwise

1. Register for free.

Sign up online or in our app for free. All you need is an email address, or a Google or Facebook account.

2. Choose an amount to send.

Tell us how much you want to send. We’ll show you our fees upfront, and tell you when your money should arrive.

3. Add recipient’s bank details.

Fill in the details of your recipient’s bank account. If you don’t know their details, we can request them for you.

4. Verify your identity.

For some currencies, or for large transfers, we need a photo of your ID. This helps us keep your money safe.

5. Pay for your transfer.

Send your money with a bank transfer, or a debit or credit card.

6. That’s it.

We’ll handle the rest. You can track your transfer in your account, and we’ll tell your recipient it’s coming.

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Receive money internationally with Transfast

Transfast has a strong network of banks in India that helps make the transfer to you easier. You have two ways to receive money: directly into your bank account, or with cash pickup.

Transfast direct bank deposit

With the bank deposit, the money comes straight into your bank account. You will be notified by SMS when the funds will be available.

Transfast cash pickup

You will be notified by SMS when the money is available and you can pick it up from any of Transfast’s 34,000 partner locations across India² ³. Use the Transfast location finder to find the one that is closest to you. Make sure you carry your government approved photo ID and the transaction number to pick it up.

Sign-up and process to receive money

To start the process, first make sure that your sender has the following⁴:

  • Your name per government ID and bank account
  • Mobile phone number
  • City
  • State
  • Bank name in India (not necessary for cash pickup)
  • Bank account number (not necessary for cash pickup)

You will receive an SMS when your funds have been deposited or are ready for pickup.

Fees and charges to receive money with Transfast

You won’t be charged to receive money through Transfast- the charges and fees will be taken out of the total amount paid by the sender.

How much time does it take to receive money

The time it takes for the transfer to show up in your account or for pickup will depend on how your sender sends it and their payment method. Overall you can expect this to take 3-5 business days for Transfast’s Value+ service if all the information inputted is correct and in lines with their terms and conditions5. Transfast’s Fastrack option can have it to you sooner.

Looking to send money from Australia, Europe or the UK? TransferWise can be your go-to provider for sending fast, easy and secure transfers to India. 90% of all money transfers to India are delivered in 1 business day from the moment the payment is received at TransferWise. If you need another reason to choose TransferWise, look at the table below at how our exchange rate compares.

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