Here you'll find everything you need to know about sending money to and from Indian rupees (INR), as well as our tax and regulatory information for India.
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Sending to INR
Sending from INR
Sending to INR
|Delivery time||1 working day||After payout. Please keep in mind that TransferWise can take up to 2 working days (affected by holidays in both the sending and receiving countries) to convert your money after we get it|
|Maximum amount (per transfer) to private individuals||1,000,000 GBP||1,000,000 GBP (equivalent in INR) upper limit is for private (not business) customers|
|Daily payment limit to businesses||1,500,000 INR per day per business||Due to the way we are regulated in India, there is a strict limitation on how much we can send to a business recipient each day|
|Countries we can send to||India only|
|Additional receiving banking fees||None|
|Bank transfer types||NEFT, RTGS and IMPS|
|Recipient full name||Yes||When sending to individuals, please include first name and surname. English (Latin) letters only. For long names, feel free to abbreviate where necessary|
|Recipient account number||Yes||5–20 digits, all numbers|
|Recipient IFSC code||Yes||11 characters including letters and numbers|
|Purpose of the payment||When sending a transfer to India, you will be asked to choose the purpose of the payment|
|Amount Lock Transfers||Yes||The currency you're sending from must also be able to send fixed amounts. Please see our other currency FAQs for more information|
|Donations||No||Due to the way we are regulated in India by the Reserve Bank of India (RBI), we are unable to support any payments for the purpose of charitable donation to recipients in India. This applies to all recipients in India, whether or not they are charitable organisations.
We can't accept payments from non-profit, NGO, charity or welfare organisations to transfer to India — regardless if it's business-related or not
|Investments||No||Payments for FDI (Foreign Direct Investment) purposes are allowed only through banking channels as per RBI (Reserve Bank of India) guidelines. TransferWise doesn't support payments for FDI purposes|
|NRE/NRO accounts||Yes||You can transfer INR to NRE and NRO accounts in India|
|Email transfers||No||Transfers to an email address are not available for payments to INR|
|Exchange rate||The real exchange rate with our costs and GST included||The real exchange rate is also known as the mid-market rate|
|How to send money||By bank transfer only||Make sure the name on the bank account you’re sending money from matches the name on your TransferWise account|
|Maximum amount per transfer||
10,000 USD, or the equivalent in INR, for education purposes
5,000 USD, or the equivalent in INR, for everything else
|Maximum amount per financial year||250,000 USD, or the equivalent in INR||When sending to individuals, please include first name and surname|
|Time it takes for your money to reach TransferWise||Up to 1 working day||
|Guaranteed rate||24 hours||
As long as we get your money within 24 hours, you're guaranteed to get this rate.
If we get your money after 24 hours, we'll convert your money based on the live mid-market exchange rate
|Business transfers||No||You can't send INR from businesses in India|
|Sender details we need||Notes|
|Your full name||
Make sure your name matches your PAN ID.
If you don't have a last name, just re-enter your first name or your initials instead
We'll need your full address, including your PIN code.
Make sure your address matches your proof of address documents
|Your tax residence||Only Indian citizens and Indian tax residents can send from INR|
|Your PAN ID number||Your account name must match the name on your PAN records held by NSDL (National Securities Depository Limited)|
|Your mobile number||
We only accept mobile numbers starting with the country code +91
TransferWise takes tax regulations extremely seriously. We take a lot of care to ensure that we comply with the laws of every country that we operate in.
All our Indian Rupee transfers are sent out from our partner banks, YesBank and HDFC Bank. Through YesBank and HDFC Bank, we're registered with the Indian tax authorities. For business transfers, YesBank or HDFC Bank can provide all necessary certification for the transfer.