So you wanted to send money to India from USA without paying any fee! Let us understand how money transfer fees are charged so that we know if "No fee money transfers to India" is possible.

Direct Fee vs Indirect Fee

All money transfer services charge fee as it is the fundamental income they earn to run their business. Having said that very few money transfer services charge fee transparently(like TransferWise) and all others charge fee opaquely. TransferWise charges 0.89% of flat fee on all money transfer transactions from USA to India. Others charge  direct fee as well as indirect fee by cutting into your exchange rates.

The direct fee is what you get a chance to know on the websites before initiating money transfer requests. This fee is charged like 4.99$ flat fee for all transactions less than 1000$. The indirect fee is charged on your transaction by taking a cut of exchange rates offered to you. Let's say if the true exchange rate is 68.00 rupees per dollar, the money transfer services offers you only 67.60 rupees. The difference of 40 paise per dollar is the cut they pocket and it is the indirect fee you fee.

Is it possible to avoid all fees?

So there is no way you can avoid fee and "No fee money transfers to India" is a myth. All you can do is to minimize the fee by choosing to transfer large amount in a single transaction. Lets say instead of transferring 500$ in two different transactions, you can bundle it as single transaction to avoid direct fee.

ZERO Dollar direct fees services

Here is the list of money transfer services who don't charge any direct fee when you transfer stated minimum amount below

Rates were last updated     
Service Min. Amount Today's Rate
WorldRemit Exchange Rate
$0.00 Rs. 63.22*
Bank Of Baroda Exchange Rate
$0.00 Rs. 73.75*
ICICI Money 2 India Exchange Rate
$1,001.00 Rs. 70.15*
Xoom Exchange Rate
$1,001.00 Rs. 63.38*
OFX Exchange Rate
$5,000.00 Rs. 62.99*
HDFC Quick Remit Exchange Rate
$0.00 Rs. 0.03*

Share this page