Send money from United States to India

Not many countries offer as many different options to send money abroad as the United States. Depending on the destination, you can use direct bank transfers, international money orders, or e-wallets. But if you want to send money from the USA to India, choosing international money transfer providers is your best option.

These companies solely focus on international transactions, and that helps them secure lower fees than banks or money orders. Direct bank transfers go over a SWIFT system, which involves intermediary banks charging fees. You can learn more in our guide to international bank charges.

These transfers also take too long, especially since money transfer providers can transfer your money to the destination quickly. Last but not least, using money transfer providers is simple. You can do it from almost any location or device with an internet connection, and the entire process is completed in minutes.

If you are sending money abroad from the USA, these are the necessary documents and info to provide:

• Proving your identity: The United States has social security cards but also issues driving licenses and passports. Any valid document with a photo will do

• Providing information about the recipient: Apart from the destination country, you'll need their full name and address. If using a bank transfer, an IBAN will be necessary, as well as the receiver's other bank account details

• Payment option: Each transaction costs the sum you plan to send (converted to the destination currency based on the rate provided) and the fee the provider charges. You can usually pick from bank transfers or card payments

• Delivery method: Most providers offer multiple delivery options. It's something to discuss with the recipient to confirm how they'd like to receive the money

The Internal Revenue Service (IRS) monitors international transactions and requires you to report any transfer above USD 10,000. Providers will often do this automatically, but we strongly suggest checking because you don't want to avoid potential legal issues.

As for taxes, you won't pay them when sending money for gifts, family support, or other private reasons. If you send money from the USA to India to purchase a property, check if there are applicable taxes in the destination country. And if you are a business paying a remote worker, you should contact a tax expert to see if there are eligible taxes in either country.

Several options exist for receiving money in India, and they include the following:

• Cash pickup: Cash collection points are the most common and usually fastest ways to receive money. MoneyGram and Western Union are some examples of services available in India, and you can even collect money at post offices or banks partnered with the chosen provider

• Bank account deposits: You get the cash to your bank account, so there's no need to head to a cash pickup point. Most adults in India don't have a registered bank account, so you'll either need to open one or find a bank willing to do that for you

• Mobile wallets: Google Pay supports sending money from the USA to India, but PayPal isn't available for personal use. These methods could come with extra fees or additional waiting times

It depends on the method selected, but at some point, you are likely to need the following:

• Personal information: Apart from providing your name and address, you'll need to prove your identity by submitting a document issued by the local government. It must contain a picture, and it shouldn't be past the expiration date - you can normally use a passport or driving license

• Transaction details: The sender should provide the transfer reference number. Also, since the sender enters your information during the transfer process, it should match the details in your personal documents

• Signature: Most providers give you a printed form that you sign to confirm you received the money

As our guide on sending money to India simplifies, family members don't have to worry about taxation when receiving money from abroad. If the money is sent from a person who isn't family, the tax exemption is INR50,000.

Some other exemptions exist, but Indian residents should be aware there is a personal income tax in this country. It varies from 0% to 30%, depending on the category of your revenue. The local tax system isn't the simplest in the world, so it could be best to consult a tax expert to ensure you do everything properly.

You won't find anyone faster than international money transfer providers. They can send money from the USA to India in minutes, but it depends on multiple factors, such as:

• The chosen service: MoneyTransfers.com offers a comparison of top providers that allows seeing the transfer speeds of various services on a single page

• The time when you send the money. Some providers might not process it immediately if you send the funds on weekends or late at night

• The sending amount: Most providers will do their best to transfer large sums since it's an excellent earning opportunity. But the money might need to go through security checks related to preventing money laundering, so patience could be necessary

The total cost of your transaction will depend on the following:

• Sending amount: Some providers charge more for transfers over USD500 or USD1,000. Others are willing to offer free transactions above those sums, so it depends on the chosen platform

• Exchange rate: Check the mid-market exchange rate for converting US dollars to Indian rupees - seeing how much each currency is worth will show you what you’re getting for your money

• Using different benefits: Money transfer providers often have loyalty programs that grant discounts on fees, or they are willing to welcome new users with a more attractive conversion rate and lower fees

If you want to send money abroad using a credit card, you can use a money transfer provider like [PROVIDER_PAYMENT_TYPE type="Credit Card"] to pay for your transfer to India.

The short description would be that sending money from the USA to India by using a credit card is fast but expensive. It’s convenient, and as it's a "credit" card, you can borrow funds beyond those available in your account and pay it back at a later date.

And credit card deposits are protected by financial institutions. For example, Visa has a zero liability policy, ensuring you aren't responsible for any unauthorized charges. Credit card deposits are instant, and some providers even give you bonuses like cashback or reward points.

But there are some negatives to using credit cards to pay for your money transfer. For starters, depositing is usually more expensive than other methods as it involves extra charges like cash advance fees and currency conversion fees. If you don't pay the money you owe back in time, you risk huge interest - and remember, using a credit card can affect your credit score.

With [PROVIDER_PAYMENT_TYPE type="Debit Card"] 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.

Debit cards are similar to credit cards to some extent. They are equally safe and fast, meaning they provide an instant deposit. The fees you pay are lower than when using credit cards. But if you compare debit cards to bank transfers via a money transfer provider, the latter remains more affordable.

From a user's perspective, a debit card is simpler to use. You only have the sum in your account available, and there's no way to send more and risk paying interest later. However, you won't be immune to currency conversion and other processing costs, so make sure to understand them before you send money from the USA to India.

Bank transfers are the most common ways of sending money India as they are secure, reliable, and convenient. You can use [PROVIDER_PAYMENT_TYPE type="Bank Transfer"] to send money using a bank transfer at a great rate as long as you’re happy for your transfer to take a little longer to process.

The important thing to distinguish is that there are direct bank transfers and bank transactions using international money transfer providers. Direct bank transfers use SWIFT payments, which are safe but expensive. They could take up to several working days, depending on the bank used.

The alternative is to use bank transfers via a specialized provider. You'll only pay the provider's fee, which ends up being far more affordable than when using the SWIFT system. It could take up to 24-48 hours to finalize the transaction when you send money from the USA to India, but you'll save more than when using cards.

PayPal isn't available in India for personal use, and you can only use it to pay merchants supporting this method. That means you need an alternative. PayTM is a digital wallet operating in India, so you can consider using it. Google Pay also supports sending money from the USA to this country.

While digital wallets offer fast transfers, they usually come with high fees - it's important to check to be sure before you finalize the transaction. If you are okay with the costs, using a digital wallet is a simple way to transfer money abroad.