How to Transfer Money from India to USA| North Loop Official Blog
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03 Mar 2020

How to Transfer Money from India to USA

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Send Money from India to USA

Sending money abroad from India can be complicated and confusing (especially if you’re using a bank!). However, if you are wondering how to send money from India to USA, this article will provide you with helpful tips and information to ensure that you send money to the US at the lowest rates possible!

Methods of Sending Money Overseas from India

When sending money from India to the US, you can use the LRS (Liberalized Remittance Scheme) to send funds easily. This law allows Indian residents to send up to $250,000 per annum, for a variety of reasons, including:
  • Education
  • Medical Trips
  • Maintenance of close relatives

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How to send money from India to America

There are a few ways you can transfer funds from India to USA, and we’ve listed them out for you. Wondering how to send money from India to New York? San Francisco? These methods will let you send money to USA bank account!

Wire Transfer
International bank to bank transfers are known as wire transfers, and you can send money from your bank account in India to any bank account in the US. When you’re sending funds to USA from India via a bank transfer, make sure you check the fees and the FX markup - banks are notorious for hiding fees and adding a lot of FX markup to the real exchange rate (the real exchange rate is the rate you’ll find on Google).

Buy Forex
Another method to send money from India to USA is via a forex company. Forex companies will take your rupees and convert it to US dollars. They can either provide you this converted currency in cash, or remit the money to USA and deliver it to a bank account there. Remember - this is the only way these companies make money, so expect heavy fees and extremely high FX makeups.

North Loop
If you’re looking to send money to USA without fees, using North Loop will be the best option. North Loop charges no transfer fees, and has some of the lowest FX rates in the world. Using North Loop can save you over $500 per transfer.

Receive international transfers in the US

If you’re sending funds to yourself in the US, or to a close relative, make sure that the bank account doesn’t charge incoming wire fees. In the US, incoming wire fees can range from $15 to $30 per transfer! That’s a lot of money to just receive funds. Our suggestion is to use an account like North Loop, which charges no incoming wire fees.

North Loop Checking Accounts

Going to the US? Transferring funds to USA? North Loop offers no fee checking accounts with no account minimums- you could save over $300 a year with a North Loop account vs. other bank accounts. North Loop also offers no-fee transfers from India to USA. Signing up takes 5 minutes, and all incoming wire transfers are free! Sign up 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.