Once we’ve received your money, we work with banking partners in India to make sure your transfer arrives quickly.
We use a variety of methods to send money to India.
- IMPS (Immediate Payment Service) is an instant interbank electronic fund transfer service within India. It’s available 24/7. The transaction limit is Rs 200,000 (2 lakh)*.
- RTGS (Real Time Gross Settlement) is the instant processing of transfers greater than Rs 200,000 (2 lakh).
- The RTGS system is available from 9:00 am to 4:30 pm IST on weekdays and from 9:00 am to 2:00 pm IST on Saturdays. Once the money is sent, it takes 30 minutes max for the beneficiary bank to credit the money to the recipient.
- However, even though RTGS processing hours are from 9:00 am to 4:30 pm IST, banks' cut off time for processing RTGS transfers are at 3:45 pm on weekdays and 1:00 pm on Saturdays.
- NEFT (National Electronics Funds Transfer System) is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which means transfers sent via NEFT are processed in half hour settlements.
- The NEFT system is available from 8:00 am to 7:00 pm IST on all working days of the week (Except 2nd and 4th Saturday of the month). Once paid out, it takes maximum 30 minutes for the beneficiary bank to credit the money to the recipient.
- However, even though NEFT processing hours are from 9:00 am to 7:00 pm IST, banks’ cut off time for processing NEFT transfers is at 6:00 pm on weekdays.
- Same bank transfers: When you transfer money using our partner banks, HDFC and YesBank, they send money out instantly. And there’s no limit on the amount that you can send.
Because RBI closely regulates transfers to and from India, we follow very strict guidelines for all payments. We convert money into Indian Rupees first so that we can send it out though local banks. So, transfers made outside of normal banking hours and in the first one to two hours after the banks open might be slightly slower.
*Not all banks support IMPS for international remittances. Here are the ones that do: Punjab National Bank, Kotak Mahindra Bank Limited, Yes Bank, Union Bank of India, Federal Bank, Bank of Baroda, Axis Bank, Corporation Nank, Indusind Bank, Andhra Bank, Central Bank Of India, Canara Bank, Catholic Syrian Bank, HDFC Bank, Vijaya Bank, Indian Bank, Indian Overseas Bank, City Union Bank, South Indian Bank, Karur Vysya Bank, Syndicate Bank, Dena Bank, UCO Bank, ICICI Bank, Bank of Maharashtra, Barclays Bank, State Bank of India, Tamilnad Mercantile Bank, Karnataka Bank Ltd, Oriental Bank of Commerce, Paytm Payments Bank