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Transfers to Indian Rupees

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.

Skip to sending to INR
Skip to Taxation
Skip to FIRC Procedure

 

Sending to INR

Basic Information   Notes
TransferWise Fee 0.7%* (or 130 INR for under 18,500 INR, and except USD) For payments from USD to INR the fee is 0.9%. To check our pricing from all currencies to INR you can see our pricing page here.
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 100 million 100 million rupee upper limit is for private (not business) customers per day.  
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
Features    
Fixed/specific amount Yes The currency you're sending from must also be able to send fixed amounts. Please see our other currency FAQs for more information.
Payments to Charity and non-profit No Due to the way we are regulated in India by the Reserve Bank of India (RBI), we are unfortunately currently unable to make payments to INR when the recipient is a charity or non-profit organisation. If the sender is a charity or non-profit organisation, transfer can only be made for the purpose of trade transactions or in order to pay wages to individuals.
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 Indian Rupees to NRE and NRO accounts in India
UTR number Yes TransferWise can provide a UTR number on request.
FIRC documentation Yes FIRC documentation for transfers through TransferWise can be obtained from the recipient bank for transfers completed through YesBank, one of our banking partners in India. We cannot provide this documentation ourselves, so requests for FIRC documentation should be made by you or your recipient to either Yes Bank/HDFC Bank or the recipient bank, not to TransferWise. 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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FIRC Issuance Procedure

If you have sent a transfer to a recipient in India, they may require a FIRC. A Foreign Inward Remittance Certificate (FIRC) is a document that acts as a testimonial for all the inward remittances entering India.

FIRCs cannot be issued for transfers that have been completed through HDFC. 

You can read about how to get a FIRC issued for a transfer that is completed through TransferWise by YesBank by clicking here. 

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