Find & Compare the Best Money Transfer Rates Online| North Loop Official Blog
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North Loop
20 Apr 2020

Find & Compare the Best Money Transfer Rates Online

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Sending money to India can seem overwhelming - what’s the best exchange rate, what is the delivery time and which provider should I use? It seems there are so many websites offering different rates, and they are all different - what is the best way to find and compare the best money transfer rates online?
We’ve got your back - we’ll look at the best way to find and compare money transfer rates, and how you can save time and money using the best methods for foreign remittance to India. Read on more to save money when you remit to India.

How to compare remit rates to India

When you’re looking to compare remit rates to India, there are two key factors that make up the remit to India exchange rate:
  1. Service Fees - money transfer companies may charge a fee to send your money. This will either be a fixed fee or a percentage of the amount.
  2. Exchange Rate Markup - money transfer companies will add a percentage to the mid-market rate. This is the cost they will sell you rupees for.

So now you know the two components that go into enabling foreign remittance to India, you can check different transfer rates for them. A note - many providers may remove a service fee and charge you a lot in the Markup - it is important to check how much is the amount being received, as that is the final price of the transfer!
If you’re worried about transfer rates, you can use North Loop - North Loop is transparent remittance to India with the lowest rates, and currency insurance as well!
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Sending money to India can seem overwhelming - what’s the best exchange rate, what is the delivery time and which provider should I use? It seems there are so many websites offering different rates, and they are all different - what is the best way to find and compare the best money transfer rates online?
We’ve got your back - we’ll look at the best way to find and compare money transfer rates, and how you can save time and money using the best methods for foreign remittance to India. Read on more to save money when you remit to India.

Best remittance rate to India

It is natural to look for the best remittance rate to India. When you’re looking for this rate, go beyond the headlines on the website - what are the service fees, what are the delivery fees, and what is the true exchange rate? The remit to india exchange rate is different for all providers, and it is best if you go with a provider that provides the most transparent rate - many providers who advertise the lowest rates usually end up hiding fees that actually make them more expensive than others. Check out our helpful transfer rates comparison tool here - you can find the best remittance rate to India by comparing different providers.

Other Things to Consider

We highly recommend also considering the following factors when you’re comparing money transfer rates online:
  • Trustworthiness - are you comfortable sending your money with this company?
  • Customer Service - if you need help, or something goes wrong, is their customer service helpful? Can you speak to customer support whenever you need to?
  • Other Services - does the provider provide other features (such as NRI banking) that lets you have one comprehensive financial solution?

Instant Rupee Accounts

If you’re planning on traveling to India, and need Rupees to spend, you can look at getting an Instant Rupee Account rather than buying Rupees in cash. An instant rupee account is similar to a multi-currency account - it is linked to your debit card, and can be topped up with rupees anytime (24/7). North Loop provides a free Instant Rupee Account with your US Checking Account.

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The most transparent, and lowest FX rates. Fast money transfers to India. NRI Banking Services. North Loop is banking for the global Indian. Sign up in 5 minutes here.

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.