What is an IFSC and will I need one to send money from [COUNTRY_FROM_NAME] to [COUNTRY_TO_NAME]?

When transferring money from Bhutan to India or between Indian bank accounts, you will come across the term IFSC. This acronym stands for Indian Financial System Code which is an 11-digit code made up of the following alphanumeric format: 4 letters that represent the bank’s name, 6 digits to represent the specific bank branch and then a final digit which is always “0”. IFSC codes are used to identify each financial institution in India’s National Electronic Funds Transfers (NEFT) network and helps the Reserve Bank of India determine where the funds are coming from and where they need to be deposited.

What is an FIRC code and will I need one to send money from [COUNTRY_FROM_NAME] to [COUNTRY_TO_NAME]?

Anyone arranging an overseas money transfer to India is likely to come across the term FIRC which stands for Foreign Inward Remittance Certificates. FIRCs are similar to receipts, serving as proof that your Indian beneficiary has received funds in India that originated from Bhutan. An FIRC generally acts as a safeguard in case your transfer appears suspicious and is investigated. This legally binding document will include information detailing the beneficiary’s full name, the sender’s full name, the type of payment, the total amount in local currency, the rate of exchange used and the purpose of the payment.

Send Money From Bhutan to India | Transfer BTN to INR

Q: What is the difference between an NRO and NRE account?

In India there are various types of residential status, generally categorised by Resident (ROR), Resident but Not Ordinarily Resident (RNOR) and Non Resident (NR). If your beneficiary in India is officially deemed a Non-Resident Indian, international bank transfers sent to them will be categorised into one of the following two classifications: Non-Resident Ordinary Account (NRO): a bank account opened by a Non-Resident Indian to manage foreign earnings and other funds Non-Resident External Account (NRE): a bank account opened by a Non-Resident Indian to manage income earned by the individual, in India. This kind of account is exempt from tax and the types of income can include pension, rent and other dividends.

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BTN to INR

India has been the largest recipient of remittances on record since 2008, and in 2020 the country reported a remittances inflow of 83 billion USD. The nation’s official currency is the Indian rupee which translates to silver or coin in Sanskrit. The ISO (International Organization for Standardization) code for Indian rupees is INR 356 and Mahatma Gandhi has featured on banknotes since the trademark series was first introduced by The Reserve Bank of India (RBI) in 1996.

In 2019 India ranked 5th in terms of total Gross Domestic Product and number 11 in total imports, which includes personal remittances. Due to the demand of Indian money transfers, most leading service providers will offer fair exchange rates for BTN to INR: use our comparison engine to find the best deal for you.

Choosing the best service provider

When considering how to send money India from Bhutan there are some key aspects of the transfer to consider.

The cheapest provider we found is at Above Mid-Market Rate.

If you’re looking for the best combination of price, speed, and reliability we recommend using when transferring BTN to INR.

This means that by using for online money transfers to India from Bhutan, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.

Alternatively, if you are unable to access for any reason, our comparison engine has found also to be very good options when sending BTN – INR.

This recommendation was updated one minute ago.

The cheapest way to send money from Bhutan to India

In order to avoid high fees, you should consider the cheapest way to send from Bhutan to India.

has been determined by our comparison engine to be currently offering you the cheapest rates possible.

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The fastest way to send money from Bhutan to India

When sending money from Bhutan to India, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers. Currently, is the fastest way to send BTN – INR.

What payment methods are available when sending money from Bhutan to India?

Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.

Sending money to India from Bhutan using credit card

To avoid high fees you can opt to use an online money transfer provider such as to pay for your transfer to India.

Sending money to India from Bhutan using a debit card

With you can send money online to India using your debit card. But before making a payment, make sure you understand all the processing fees in place.

Using a wire transfer to send money from Bhutan to India

Bank and wire transfers are the most common ways of sending money India as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.

If you want to make an international transfer using wire transfer, you will need to know the SWIFT/BIC code of your recipient in India. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in India.

When sending money to India from Bhutan using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee.

On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as .

Considerations for a BTN – INR Currency Transfer

Before sending money to India from Bhutan, you should consider the following:

The amount you want to transfer: It is likely that the more money you send to India the more value you will get and more INR the recipient will receive. This is because any flat fee charged ends up as a smaller percentage of your transfer amount, and also because many providers allow you to negotiate a better exchange rate margin if sending large amounts.
The BTN – INR exchange rate margin: Money transfer providers charge a small percentage on top of the mid-market exchange rates in order to generate revenue. Current mid market rate is 1.000268 and the lowest exchange rate margin is currently offered by at above the mid market rate.
Hidden fees & charges: Before sending money to India, make sure the provider you are using doesn’t charge any hidden fees. Our reviews of the top ranked providers , and will give insight here.

How to send money from Bhutan to India at the best rate?

This one’s easy. Simply use our comparison table above to find the best provider to send BTN to INR. After that it’s just a process of making your transfer via the following steps:

Click “Visit Site” inside our comparison table
Register for an account if required
Input how much you are willing to send
Fund your transfer
Receive & save an email confirming your transfer

How to receive transfers from BTN to INR in India?

Your recipient has a few methods available to receive your money in India. These will vary between providers, but it is possible to find services that will:

Deposit INR directly into a bank account
Enable the recipient to pick up cash a specific locations across India
Deliver money directly to their door
Send INR to your recipient’s mobile wallet

If your recipient is going to collect or have the money delivered to them in India, then they will usually need the following:

A government issued I.D document such as passport, Aadhaar card or Electoral Photo Identity Card (EPIC)
The money transfer reference number
Senders details and the amount of money sent

How much money can be transferred from Bhutan to India?

The amount of INR you can receive from Bhutan will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.

You should also check if there are any government regulations pertaining to the amount of INR that can be received in India or sent from Bhutan before making your transfer.

What is an IFSC and will I need one to send money from Bhutan to India?

What is an FIRC code and will I need one to send money from Bhutan to India?

What is the difference between an NRO and NRE account?

Written by
April Summers

April is a trained journalist and the Content Editor for MoneyTransfers.com. She has 10 years experience writing about a diverse range of subjects, from financial services to arts and entertainment. When she’s not writing about global remittances she can be found daydreaming about her next holiday abroad.