What are the best ways to transfer money from India to my foreign bank account?

Niyo for students Abroad Money Transfer
5

Sending money abroad doesn’t have to be complicated. The best way will depend on the amount you’re sending, sometimes, extra fees can really eat into your funds. Here are some of the best ways:

1. International Wire Transfer (SWIFT)

  • How it works: You can send money directly from your Indian bank to your foreign bank through SWIFT.
  • Pros: Reliable for large amounts.
  • Cons: It can take a few days and might have higher fees.

2. Niyo Global Card

  • How it works: Load INR into your Niyo card and use it abroad with zero forex markup.
  • Pros: No conversion fees, free ATM withdrawals.
  • Cons: Best for spending, not direct transfers.

3. PayPal

  • How it works: Send money via PayPal from your Indian account to your foreign account.
  • Pros: Convenient, quick for smaller amounts.
  • Cons: Higher fees, less favorable exchange rates.

4. Money Transfer Operators (Western Union, MoneyGram)

  • How it works: Use services like Western Union for quick transfers.
  • Pros: Fast, widely available.
  • Cons: Higher fees for small amounts.

Hope this helps!