Sending money to India (IND) can be done through various convenient methods, allowing you to transfer funds directly from your bank account or through dedicated service providers.
Here are some of the best ways to send money to India:
Popular Methods for Sending Money to India
You have several efficient options for transferring funds, each offering different advantages based on your preference for convenience, speed, and cost.
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PISP (Payment Initiation Service Provider) Payments
- What it is: This method allows you to give an instruction to a service provider like Wise to make a bank transfer directly from your bank account. The unique benefit is that you don't need to leave the service's app or log into your online banking separately. The process is streamlined within the app itself.
- Ideal for: Users who prefer a seamless experience and want to initiate transfers without switching between multiple platforms.
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Bank Transfer
- What it is: A traditional and widely used method where you send money directly from your bank account to the recipient's bank account in India. This can be done through your bank's online portal, mobile app, or by visiting a branch.
- Ideal for: Those comfortable with standard banking procedures and who may not use third-party transfer services frequently.
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SWIFT (Society for Worldwide Interbank Financial Telecommunication)
- What it is: SWIFT is a global network used by financial institutions to send and receive information about financial transactions securely. When you send money via SWIFT, it's an international wire transfer that passes through this network.
- Ideal for: Large international transfers, often used by businesses or individuals sending significant amounts. It can sometimes involve intermediary bank fees.
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Wise Account Transfer
- What it is: If you or your recipient already have a Wise account, you can send money using funds held within that account. This can be a very quick way to transfer money between Wise users globally.
- Ideal for: Existing Wise users who want to leverage their account balances for quick and often cost-effective international transfers.
For more detailed information on sending money to India and to explore these options further, you can visit Wise's guide on sending money to India.
