Whether you want to buy a house, move your pension payments or transfer money to a family member, sending money to India requires some research to get the best deal.
When you are conducting a money transfer to India from UK you can make sure that your money will get there as quickly, safely and cheaply as possible.
But, other than checking a money transfer service can make a transfer to India, how do you choose the right company?
How to find the cheapest way to transfer money to India
Providers base their prices for transferring money to India from UK on two things: how much you want to transfer, and their costs for putting the transfer through.
These costs are shared by all money transfer services, and can be categorised as service fees (such as commission, sending and receiving fees) and exchange rates.
Money transfer services tend to parcel up these costs and add them to the sum you want to transfer as a total fee, rather than breaking them down into individual charges.
This means you can quickly compare the overall cost of services from different providers to find the cheapest deal.
However, there are other things you'll need to consider before you send money to India, for example how quickly you need to make the transfer, how the transfer works and how you could save money. Ensure that the company you go for will transfer the way you want it to in a time frame that suits you.
What you should look for
Many providers are able to put through a next day money transfer to India for an extra fee. If you need to send money quickly, make sure you consider these extra fees alongside the package price of your transfer so your comparison takes in the whole picture.
Similarly you need to consider how you'll be able to make the transfer - or future transfers. Check which providers offer an online money transfer to India, can complete transfers by telephone or via an agent, to make sure you get the process that fits your needs.
Finally, many currency transfer services offer their best deals when you transfer larger amounts, e.g. £5,000+. You should check if your UK to India money transfer could get a better price by comparing providers for their minimum transfer amounts, as well as the thresholds for their premium rates and if you are looking to transfer again soon, whether it may be worth transferring all at one time.
Using our online money transfer to India comparison table, you can compare services offering the features you want to get the cheapest rates when transferring to India from UK.