How to send money to India from South Africa with the best ZAR-INR rate

A better exchange rate means more Rand being sent to India. This exchange rate determines the price you will pay when buying Indian Rupee.

Currently the mid-market rate between Rand and Indian Rupee is 5.7185.

Fees and exchange rates make up the total cost of sending money from India to India. Finding a company that can offer both ensures a good deal on your transfer.

• The Mid-Market and Exchange Rates: The current ZAR-INR mid-market rate is 5.7185 INR per Rand. You will get more Indian Rupee for your Rands if you find a provider close to this number.

• Fees: Transfer fees are charged as part of the transfer. Currencyflow charges the lowest fee of 0 ZAR at the moment. We’d always recommend comparing providers for your exact send amount as fees may change.

• Amount Received: Money transfer companies will show you the amount of Indian Rupee eventually received in India. You can assume that a lower cost of sending from South Africa will result in more money received in India.

Sometimes, waiting a day or two can help you get more INR for the same amount of Rand - but time it wrong and you might get a worse deal.

If you’re sending a large amount where this rate could make a significant difference, use a forward contract. This allows you to lock in an agreed exchange rate between South Africa and India.

A bank transfer through a money transfer company is the cheapest way to send money. Generally, it’s the payment method that will get you the best price on a transfer from South Africa to India at this moment.

Here are all the ways to send money from South Africa to India:

Bank transfers

Bank transfers are usually the best and easiest way to send money from South Africa to India.

By using a money transfer company such as Currencyflow for transfers from South Africa to India, you can send money via a bank transfer while benefitting from lower fees and more favorable exchange rates than you would get from a traditional bank.

Debit and prepaid cards

Sending money from South Africa to India with a debit or a prepaid card is available through .


is one of the cheaper options for debit card payments for transfers from South Africa to India. This cost is against a total of 6 money transfer companies offering this option.

Credit cards

When it comes to credit card transfers from South Africa to India, we recommend comparing your options to get the best deal.

Transfer limits to South Africa and India will differ per company, this may impact the amount you can send and receive if you hit the limits.

Also, rates and fees for different ZAR-INR transfer amounts could change - that’s why it’s best to compare companies for your specific transfer amount. Then, for regular transfers to India, shopping around each time can make a huge difference if you feel you are hitting limits regularly.

For sending large or regular amounts of ZAR to India we'd recommend using TorFx. They offer a combination of rates and fees when sending from South Africa to India that is the most competitive.

There are different ways to receive money in India.

The most popular ways are direct bank deposit into Indian Rupee, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all providers offering money transfers between South Africa and India will offer every method for incoming Indian Rupee.

Understanding where the money will eventually go after its left South Africa and entered India could impact the provider you use.

The most common (and generally easiest) way to send money from South Africa to India is directly into a bank account. TorFx is the best company for sending money from South Africa to a bank account in India.

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

Mobile wallets, P2P services and payment apps like PayPal, Xoom, and CashApp are popular because they offer convenience to those who already have them, but they come with more limitations and higher costs.

When sending Indian Rupees to India, you will need to verify your ID at the sign up stage.

The documents you need will vary by money transfer company and in some cases you might need a couple of options.

For the most part however, in South Africa ID can be verified through a government issued ID such as a passport or driver's license.

In India, if the recipient needs an ID to collect money - both should be accepted. We’d recommend checking in advance before sending for any specific requirements on receiving money.

Large transactions between South Africa and India, are subject to additional checks such as proof of funds. This is for anti-money laundering purposes.

TorFx is one of our recommended providers for transfers to India from South Africa due to the ease of sign up and ID verification.

When sending money between South Africa and India there will be tax declarations to consider.

Some transfers into Indian Rupee may need to be reported to tax authorities in India, particularly where inheritance or property purchases are involved (or anywhere else there are additional legal requirements).

Depending on age and income in particular, tax limits and personal allowances will change in India.

When in doubt, please contact a tax professional in South Africa or India to discuss the personal circumstances of the transfer. This ensures you are not missing any specific tax declarations associated with your circumstances.