Sending money from the UK to India should be simple, fast, and affordable, but with so many options available, choosing the best one can be overwhelming.
This guide highlights the 5 best money transfer services to help you transfer money from the UK to India, whether you prioritise low fees, competitive exchange rates, or speedy transfers.
| Providers | Payment Methods | Fees | Exchange Rate |
| 1. Wise | Bank Transfer, Debit Card, Credit Card, SWIFT Transfer | £50.69 (Bank Transfer) Higher for cards | Mid-market rate* |
| 2. Remitly | Bank Deposit, Cash Pickup, UPI | £1.99 First transfer free | Promotional rate for first £2,000 |
| 3. Revolut | Bank Transfer, Payment Links | £1.50 (Bank Transfer) £23.00 (Card Transfer) | Competitive, real-time rates* |
| 4. PayPal (Xoom) | Bank Transfers, UPI, Cash Pickup | £1.99–£3.99 | Marked-up rates |
| 5. Western Union | Bank Transfer, Cash pickups, In-person bank transfers | Varies by amount/method | Real time rates. |
| *Mid-Market Rates: The mid-market rate is the fair, real exchange rate used by banks to trade currencies without hidden margins or fees. *Real-time Rates: Live exchange rates that show the current market rate at the time of your transaction and are updated in real-time. Although this ensures you receive the most accurate rate, it might alter a little depending on how the market develops. | |||
1. Wise
Wise, formerly known as TransferWise, is a London-based financial technology company specialising in international money transfers. Wise aims to make global transactions cheap, fair, and simple.
Wise offers a transparent and cost-effective solution for inward remittances to India.
Payment Methods
- Bank Transfer: Transfer money directly from your bank account to Wise, and Wise will transfer it to the recipient’s bank account in India. Usually bank transfers are the cheapest option while international money transfers with Wise. It can be slower than the debit card or credit card option.
- Debit Card: You can use your Visa, Mastercard, or Maestro to initiate the transfer to the recipient’s account in India. And debit card transfers are cheaper than credit cards, as credit cards are more costly to process
- Credit Card: Payment using your credit card is easy and fast Wise accepts Visa, Mastercard, and some Maestro credit cards.
- SWIFT Transfer: With its high payment limits and speedy processing, Wise facilitates swift international money transactions. Although intermediary banks or time zones may cause delays, transfers usually take one to six working days. To ensure the full amount reaches Wise, choose an “OUR” SWIFT transfer to cover all fees.
Fees and Charges
The approximate fees, as of January 22, 2024, for sending £1,000 from the UK to India are as follows:
| Payment Method | Fee | Wise Fee | Total Included Fee |
| Bank Transfer | 0 GBP | 5.69 GBP | (0.57%) 5.69 GBP |
| Debit Card | Up to 6.56 GBP | 5.66 GBP | (1.22%) 12.22 GBP |
| Credit Card | Up to 22.29 GBP | 5.57 GBP | (2.79%) 27.86 GBP |
| Swift Transfer | 5.69 GBP | 5.69 GBP | (0.57%) 5.69 GBP |
| Your Balance | Bank transfer fee: 0 GBP | 5.50 GBP | (0.55%) 5.50 GBP |
For transfers of £20,000, a discounted fee rate of 0.50% is applied. For example, by transferring £20,000, you could save up to £588.82 in bank transfer. Additionally, bank transfers, SWIFT transfers, and your balance options are available as payment methods when transferring this amount. Depending on price and exchange rates, this could change.
2. Remitly
Remitly is a digital remittance service that enables individuals in the United Kingdom to send money to India efficiently and securely.
Payment Methods
- Bank Deposit: Transfer funds directly to an Indian bank account in banks such as HDFC, SBI, ICICI, Axis, and many more.
- Cash Pickup: Transfer money to Remitly, and they’ll transfer it to the recipient in India, who can collect it as cash from a partner bank or money transfer service branch near them.
- UPI: Send money to Remitly, and they’ll directly transfer it to the recipient’s bank account using their UPI ID.
Please note: The cash pickup option in India is available only up to Rs 50,000 by all money transfer service providers.
Fees and Charges
When sending from GBP to INR, there is a £1.99 cost for all transfers. However, as a new customer, you can enjoy a special promotion, which is no fees on your first transfer, along with a promotional exchange rate of 105.64 INR per 1 GBP (rate as of 21 January 2025), applicable to the first £2,000 sent.
Please note that exchange rates and fees are subject to change. Your transfer can be tracked at every stage by you and the recipients. Transfers will be delivered on schedule, or any money spent will be refunded.
3. Revolut
Revolut is a global financial technology company that offers a range of services, including international money transfers. With more than 50 million users globally, Revolut makes it possible for people to send money effectively and reasonably from the UK to India.
Payment Methods
- Bank Transfer: Send money directly to a bank account in India by providing the recipient’s account number and SWIFT/BIC code.
- Payment Link Transfers: Payment links in Revolut let you securely send money without sharing personal details. You can send funds to a card or bank account in India. Create a payment link and share it with the recipient. They have 7 days to accept, after which unclaimed funds return to your account.
Please note: Revolut is unavailable in India at this moment, and thus transfer options such as Revolut-to-Revolut won’t work.
This image shows the message displayed when trying to use Revolut-to-Revolut payments in India:
Fees and Charges
- Revolut provides competitive fees for international transfers. For instance, when sending £1,000 from the UK to India, Revolut may charge a small bank transfer fee of £1.50 or a card transfer fee of £23.00. Users on Premium, Metal, and Ultra plans receive discounts on these fees. Better plans offer better cashback, reward points, and lower exchange rate fees on transfers.
- Revolut offers competitive exchange rates for GBP to INR transfers. It’s advisable to check the current rates in the app before initiating a transfer, as they are subject to change.
The transfer speed depends on the transfer method and banking hours. For bank transfers, it’ll take up to 48 working hours. Revolut’s app allows users to manage their transfers easily, providing real-time updates and notifications.
4. PayPal
For international money transfers, PayPal is a popular option. PayPal allows you to send money from the UK to India via Xoom, offering bank transfers, cash pickups, and UPI transfers.
Payment Methods
- Bank Transfers: Send funds directly to a recipient’s bank account with real-time exchange rates by providing the recipient’s bank account details. Within a few hours, your fund will be transferred.
- Cash Pickup: Allow recipients to collect money at eligible pickup locations and banks throughout India. PayPal has partnered with Muthoot Finance, Manappuram Finance, and other businesses to act as cash pickup locations.
- UPI Transfers: Enter the recipient’s UPI ID and Xoom (PayPal) will directly transfer to it ensuring secure and fast transactions.
Fees and Charges
These fees are applicable till sending £1000 to India via PayPal
| Payment Method | UPI Transfers (GBP) | Bank Deposits (GBP) | Cash Pickups (GBP) Only till Rs 50,000 |
| PayPal Balance | 1.99 | 1.99 | 3.99 |
| Bank Account | 1.99 | 1.99 | 3.99 |
| Debit Card | 1.99 | 1.99 | 3.99 |
| Credit Card | 1.99 | 1.99 | 3.99 |
When both the sender and the recipient have PayPal accounts, transfers can be completed quite instantly.
5. Western Union
Western Union offers convenient money transfer options from the UK to India, such as cash delivery, bank account transfer, & UPI transfer. The Western Union app allows you to track transfers and save receiver details for easy repeat payments.
Payment Methods
- In-Person Transfers: Users can visit a Western Union agent location and physically hand over the money.
- Bank Account Transfers: Funds can be sent directly to a recipient’s bank account in India.
- Cash Pickup: Money can be collected as cash by the recipient at various agent locations across India.
Fees and Charges
For example, take this sample transfer of 1000 GBP as of 23 January 2025:
- Western Union’s Exchange rate: 1 GBP = 106.24 INR
- Realtime Rate (as on Google) = 106.44 INR
- Difference = 20 Paise (profit margin of Western Union on each GBP transferred)
- Transfer amount: 1,000 GBP
- Transfer fee: 0.00 GBP
- Total received by the recipient: 106,244.10 INR
Please note that exchange rates and fees may vary during your transaction, depending on real-time market conditions and other factors. Always check the latest rates before proceeding.
Limits on Sending Money From the UK to India
Limit in the UK
- The UK government does not have any legal restrictions on the amount of money that can be sent overseas.
- To identify and stop unethical acts like money laundering and tax evasion, agencies like the Financial Conduct Authority (FCA) and HerMajesty’s Revenue and Customs (HMRC) keep an eye on transfers.
- While there are no legal caps, providers often set their own limits, with banks typically allowing transfers of £25,000 to £50,000 per transaction.
Limit in India
- Under normal circumstances, there is no maximum limit for receiving personal remittances in India.
- For Cash Pickup facility there is a limit of Rs 50,000 per transaction per recipient. Also, there is a yearly limit of 30 transactions per recipient.
Tax on Money Transferred From the UK to India
Tax in the UK
When transferring money from the UK to India, no tax is applicable on the sender, as taxes on income are already paid in the UK. Only minimal service charges or transaction fees may apply during the transfer.
Tax in India
Non-Taxable Remittance:
For the recipient in India, money received for personal expenses is not taxable. This is supported by India’s Double Taxation Avoidance Agreement (DTAA), which prevents double taxation for income that has already been taxed in the UK.
If the money is sent for family maintenance or to support family members (e.g., for education, medical expenses, etc.), it is not taxable for the recipient.
Taxable Remittance:
Any gift received by a person who is not a relative is taxable for the recipient if the total amount exceeds ₹50,000 in a financial year. This is outlined in Section 56(2)(x) of the Income Tax Act, 1961.
Also Read: Tax Implications On Money Transferred From Abroad To India
In Conclusion
For sending money from the UK to India, providers like Wise, Remitly, Revolut, PayPal, Western Union, and MoneyGram offer a range of options to suit different needs.
By comparing their fees, exchange rates, and features, you can make an informed choice to maximise the value and convenience of your transfers.
If you are looking to transfer money in the opposite corridor, i.e., from India to UK, consider using ExTravelMoney.com. We are India’s leading online marketplace for forex services.
1. Get the best exchange rates saving you money
2. Easy online process & documentation
3. Dedicated customer service providing expert support & advice
Also Read: How Can NRIs Transfer Money From India—Complete Guide
Rinsha K A is a Content Writing Intern at Extravelmoney.com. With a Bachelor’s degree in Software Development and a strong background in digital marketing, she crafts clear and engaging content. Her work helps readers easily understand topics like foreign exchange, international money transfers, currency exchange, and travel abroad.