How to send money to Maldives from India with the best INR-MVR rate

Comparing based on your specific needs is the best way to send money from India to Maldives with confidence.

For INR/MVR

• Wise is our top pick for sending Indian Rupee to Maldives. For example, sending 600,000 INR to MVR will cost you ₹17784.83 in fees, and you will receive 93,553.83 MVR.

• We would recommend Regency FX for low cost, affordable transfers from Rufiyaas to Maldives. We found that Regency FX is 3.45% cheaper than the second-best option. The cost is a combination of a fee of 0 INR and an exchange rate for converting Indian Rupee to Rufiyaa that is 0.27% different to the mid-market rate.

• Fastest way to send money to Maldives from India is with Regency FX. For example, if you send 600,000 INR with Regency FX to Maldives, the transfer time is minutes - 24 hours based on our data.

Our analysis, and search results, include 2 providers that operate between India and Maldives. These are ranked by speed, overall cost and ease of use.

Through this, you get a comprehensive view of all the options you have in India when you need to send money to Maldives.

The exchange rate determines the price you’ll pay for Rufiyaa when you send Indian Rupee to Maldives.

The current exchange rate between the Indian Rupee and Rufiyaa is 0.162, and it constantly fluctuates.

When calculating the cost of sending money from India to Maldives, a combination of fees and exchange rates ensure the best deal:

• The Mid-Market and Exchange Rates: The current INR-MVR mid-market rate is 0.162 MVR per Indian Rupee. Finding a provider as close to this number as possible will ensure more Rufiyaa for your money.

• Fees: Transfer fees are charged on top of a transfer. Regency FX currently offers the lowest fees of 0 INR per transfer (based on ₹600,000 transfer). Although, we recommend searching for your exact send amount for an exact fee.

• Amount Received: The total amount received in Rufiyaa is the biggest indicator in the total cost of sending money to India from Maldives. The higher the total amount received in Maldives, the lower the cost of sending from India.

It’s possible that waiting a day or two can help you get more MVR for the same amount of Indian Rupee. But, the best way to lock in a price between India and Maldives is by using a forward contract.

A bank transfer is our recommended option for money transfers between India and Maldives. Regency FX offers the best price on a bank transfer.

Here are all the ways to send money from India to Maldives:

Bank transfers

Bank transfers are often the best payment method for money transfers from India to Maldives.

A money transfer company like Regency FX offer bank transfers between India and Maldives with lower fees and better exchange rates than you would get from a traditional bank.

On average, Regency FX is the cheapest provider for bank transfers of the 2 we tested when sending INR to Maldives.

Debit and prepaid cards

Sending money from India to Maldives with a debit or a prepaid card is very simple with .


is a leader in debit card payments for transfers from India to Maldives, competing among a total of 2 active money transfer companies on this route.

Credit cards

We recommend avoiding credit cards where possible due to a lack of support and high fees.

If you have to use a credit card, we recommend comparing your options to find the company with the lowest fees.

Always choose providers that are regulated by financial authorities in both India and Maldives to ensure funds are protected.

Please refer to our directory of financial regulators worldwide for key regulatory bodies for money transfers between India and Maldives.

Some services have minimum or maximum thresholds on how much you can transfer from India to Maldives.

Companies will offer different rates and fees for different transfer amounts. Some companies will become more expensive after certain thresholds are hit.

We’d recommend using Wise if you need to send large amounts of INR to Maldives. The combination of rates and fees when sending to Maldives is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving India, or entering Maldives. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in Maldives. You can do a direct bank deposit, cash pickup, use a mobile wallet or receive money into a multi-currency account. It’s likely not all providers serving transfers from India to Maldives will offer every method, so it’s best to check ahead of time.

A direct transfer to a bank account is one of the more common ways to transfer from India into Rufiyaa. Wise is the best company for bank transfers between India and Maldives.

And if you need cash right away, check if cash pickup is an option for transfers between India and Maldives.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Regency FX.

When signing up to a money transfer company to send between India and Maldives, you will need to verify your ID.

The exact documents you need might vary and in some cases you will need more than one.

For the most part, in India this will be a government ID like a passport or driver's license. In Maldives it will be a similar set of documents, although this should only be needed if you are opening a new account in Maldives, or collecting in cash.

Big transactions between India and Maldives, are subject to additional checks. A provider may ask you for proof of address or may want to know where the money comes from.

We recommend Wise in part due to their easy sign up process in India.

When sending large amounts of money between India and Maldives there will be tax implications to consider.

Some transfers into Rufiyaa may need to be reported to tax authorities in Maldives, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances differ in Maldives based on age, income and a few other elements. When in doubt, please contact a tax professional in India or Maldives to discuss your personal circumstances.