The best ways to send money internationally are through providers who offer fair exchange rates and don’t charge high fees.
International money transfers are a popular practice. Though a bank might seem like the obvious place to make an international money transfer, banks are actually the most expensive option. You’ll likely pay lower costs and your recipient will get the money faster using one of the following licensed money transfer companies instead of your bank. Here are five options for the best way to send money internationally.
5 Best Ways to Send Money Internationally 2025
- Wise: Best for high sending limits.
- Remitly: Best for personal transfers for family support
- Xoom: Best for international money transfers within minutes.
- Instarem: Offers quick transfer facility
- Western Union: Best for large global network.
1) Wise – Wise is one of the most trusted fintech platforms for international transfers, widely known for its real-time exchange rates and low transparent fees.
- How it Works: You register on Wise, add the recipient’s bank details, pay via UPI, debit card, or net banking, and the money is deposited directly into the recipient’s bank account abroad.
- Best for: Students paying tuition fees, freelancers, or regular family transfers.
- Pros: Cost-effective, easy-to-use mobile app, highly secure.
- Cons: Some countries may have higher fees depending on regulations.
2) Remitly – Remitly is another popular remittance service catering especially to personal transfers for family support. Its major attraction is speed and convenience.
- How it Works: Senders can pay via debit card, UPI, or net banking, and recipients can either receive the funds directly in their bank account or pick up cash at partnered outlets abroad.
- Best for: Family remittances and emergency support payments.
- Pros: Flexible delivery options (bank transfer, cash pickup, mobile wallets).
- Cons: Exchange rates can vary depending on delivery speed.
3) Instarem – Instarem, based in Singapore, has gained strong traction in India thanks to its competitive forex rates and fast settlement.
- How it Works: The sender makes payments through UPI, IMPS, or bank transfer, and funds are delivered directly to the beneficiary’s overseas account.
- Best for: Regular remittances, overseas bill payments, and business payments.
- Pros: Excellent exchange rates, quick transfers, rewards on every transaction.
- Cons: Fewer cash pickup options compared to Remitly or Western Union.
4) Western Union – While Western Union is traditionally known for its agent-based model, its online money transfer service offers a convenient way to send funds directly from India without visiting a physical branch.
- How it Works: Users can initiate transfers via the Western Union app or website, paying through debit card, net banking, or UPI. The recipient can receive money directly in their bank account or collect cash at Western Union outlets worldwide.
- Best for: Remittances to countries where the recipient prefers cash pickup.
- Pros: Global reach, trusted brand, flexible delivery methods.
- Cons: Slightly higher fees compared to Wise or Instarem for bank-to-bank transfers.
5) Xoom (by PayPal) – Xoom, owned by PayPal, offers fast and reliable money transfers from India to multiple destinations. It is particularly popular for transfers to the United States and Europe.
- How it Works: Users link their bank accounts or cards to Xoom, enter recipient details, and initiate a transfer that can be delivered to a bank, cash pickup point, or even directly to mobile wallets in some countries.
- Best for: Quick transfers, overseas bill payments, and family remittances.
- Pros: Speed, PayPal’s trusted security, multi-channel delivery.
- Cons: Higher fees for urgent transfers, exchange rate margins apply.
Important Considerations
While these non-banking platforms make overseas transfers much easier, here are some key points to keep in mind:
- RBI LRS Limit: Under the Liberalised Remittance Scheme (LRS), Indian residents can remit up to USD 250,000 per financial year.
- Purpose of Transfer: Clearly mention the purpose (education, maintenance, gifts, business payments, etc.) while initiating transfers to comply with regulations.
- Hidden Charges: Always compare exchange rates and transaction fees—what looks cheaper upfront may cost more due to poor forex rates.
- Speed vs. Cost: Economy transfers are cheaper but slower; express transfers are faster but more expensive. Choose based on urgency.
Sending money overseas is a necessity for millions of Indians—whether it’s supporting family abroad, paying university fees, or handling business payments. While traditional bank transfers remain an option, they often come with high charges, unfavorable exchange rates, and longer processing times. This is where non-banking online money transfer platforms have revolutionized cross-border remittances.
Non-banking online money transfer platforms have truly transformed the way Indians send money abroad. Services like Wise and Instarem stand out for their low fees and real-time forex rates, while Remitly, Western Union, and Xoom provide flexibility with multiple payout options and speed.