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INR Transfers

Here you'll find everything you need to know about sending money to Indian Rupees, as well as our tax and regulatory information for India.  We can currently only send money to India, and not receive deposits from India. For more information and to get started with your first transfer, click here.

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Sending to INR

Basic Information   Notes
TransferWise Fee See pricing page We have tailored pricing for transfers to INR, so you can check the cost of your transfer on our pricing page.

You can also see how we work out our fees.
Delivery Time* 1 working day *After payout. Please keep in mind that TransferWise can take up to two working days (affected by holidays in both the sending and receiving countries) to convert your funds from receiving the deposit.
Maximum Amount (per transfer) to Private Individuals 1 million GBP 1million 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  
Required Details    
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 For business payments only When sending a business transfer to India, you will be asked to choose the purpose of the payment.
Features    
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.
Investments No Payments for FDI (Foreign Direct Investment) purposes are allowed only through banking channels as per RBI (Reserve Bank of India) guidelines. Payments for FDI purposes are not supported by TransferWise.
NRE/NRO accounts Yes You can transfer INR to NRE and NRO accounts in India.
UTR number Yes  
FIRC documentation Yes See more here.
E-mail Transfers No Transfers to an email address are not available for payments to INR.


 

Taxation

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.

Both business and personal transfers are kept on record with the Reserve Bank of India.


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