The Smart Guide to Send Money to India from Europe


Whether you send money to support your family in India, to buy a home, to save for retirement, or any other reason, here are the best ways to transfer money from Europe to India.

Are you an expat Indian working and living in Europe? Indians are the world’s largest diasporas, with around 1.2 million Indians living in Europe. There are plenty of reasons why Indians move to European countries – a better lifestyle, improved work opportunities, higher education, more remuneration, etc.

Most Indians though they work and live in Europe, still have family residing back in India, including spouse, children, siblings, ageing parents, and others. Most Indians send their hard-earned salary back home to support family members financially.

The Smart Guide to Send Money to India from Europe

Here, in this guide, you can find the best ways to transfer money from Europe to India, helping you get the most value for your hard-earned Euros.

How to Send Money from Europe to India?

Today, there are plenty of choices for international money transfers to India. From regular banks to high-street money transfer providers, you’ve got plenty of choices. This makes the process of choosing a bit challenging. But, worry not; you can find out how to compare different service providers to choose the best option that offers you convenience, security, and affordability.

Things to Know when Transferring Money from Europe to India

  • Exchange Rates – This is the rate charged for transferring your money from one currency to another. In this case, from EUR to INR. To compare exchange rates, you must start by looking at the mid-market rates. This is the rate banks and transfer service providers use when they transfer money among themselves. Almost all transfer providers mark-up the mid-market rate when offering exchange rates to customers. Compare the exchange rate provided by the transfer service with the mid-market rate, and choose service providers who charge the smallest margin.
  • Transfer Fees – Apart from the exchange rate, all transfer service providers charge a small fee for the service. This can be either a flat rate or a percentage of the transfer. Flat rates work well for large transfers, and percentage rates work well for small transfer amounts.
  • Bank Partners – The transfer service you choose must be able to transfer the amount to your recipient’s bank account. So, make sure that the recipient’s bank is a partner of the provider you are choosing, before starting the transfer.
  • Transfer Speed – It can take anywhere from a few hours to a few weeks. It depends on your requirements. For emergencies, you may have to choose a transfer provider who transfers within minutes but for an added cost.
  • Transfer Limits – Check both the minimum and maximum transfer limits to send money to India, to decide whether the option suits you.
  • Exchange Rate Lock-in – Some transfer service providers offer you the option to lock-in a preferred exchange rate and schedule transfers later. This helps you to protect yourself from market fluctuations.
  • Customer Support and Service – This is a crucial factor. Make sure that you choose a reliable service provider who helps you if needed.

Compare and Find the Best Transfer Options

As an expat, you are likely to transfer money home often. Even a few Euros difference in transfer fees could make you lose a large sum in the long run. So, make sure to search around, and consider the factors listed above, to find the right method that gets you the best EUR to INR conversion rates.

Leave a Reply

Your email address will not be published. Required fields are marked *