$120B+ — Annual remittances into India (2024)
| Provider | Fixed Fee | FX Markup | Total Cost | % of Transfer | Speed |
|---|---|---|---|---|---|
| Bank Wire (SWIFT) | $25–45 | 1.5–3% | $31–51 | 15–25% | 2–5 days |
| Western Union (online) | $5–8 | 1–2% | $7–12 | 3.5–6% | Minutes–1 day |
| Wise | $2–4 | 0% | $2–4 | 1–2% | Same day–1 day |
| Remitly (Express) | $2–4 | 0.5–1% | $3–6 | 1.5–3% | Minutes–hours |
| Remitly (Economy) | $0–2 | 1% | $2–4 | 1–2% | 3–5 days |
| USDC on Stellar (via CoinDCX) | $1–3 | ~0.3% | $2–4 | 1–2% | Under 2 hours |
| USDC on Tron (via CoinDCX) | $1–3 | ~0.4% | $2–4 | 1–2% | Under 1 hour |
~$36��72 — Annual savings switching from Western Union to Wise or crypto
| Provider | Cost per Transfer | Annual Total Fees | INR Delivered (est.) |
|---|---|---|---|
| Bank Wire | $31–51 | $372–612 | Lowest |
| Western Union (online) | $7–12 | $84–144 | Low |
| Remitly Express | $3–6 | $36–72 | Mid-high |
| Wise | $2–4 | $24–48 | Highest (mid-market) |
| Remitly Economy | $2–4 | $24–48 | High |
| USDC on Stellar | $2–4 | $24–48 | High |
Wise and Remitly Economy are the cheapest mainstream options at $2–4 total cost (1–2% of the transfer). USDC on Stellar via CoinDCX matches that cost but requires both sender and recipient to have verified exchange accounts. Bank wires are the most expensive option at $31–51 for a $200 transfer.
Wise has no published minimum for USD to INR transfers. However, their percentage-based fee structure means very small amounts (under $50) may have a higher effective fee rate. For $200, Wise typically charges $2–4 total with no FX markup.
Most Wise USD-to-INR transfers arrive within a few hours to one business day when funded by debit card. Bank-funded transfers take 1–2 business days. Wise sends directly to any Indian bank account that accepts IMPS or NEFT transfers.
Yes, through a regulated Indian exchange like CoinDCX. Your recipient creates a KYC-verified account, receives the USDC or USDT you send, sells it for INR at the current exchange rate, and withdraws to their Indian bank account. The full process from your send to their bank deposit typically takes 1–3 hours. CoinDCX is one of India's largest regulated crypto exchanges.
For crypto rails, cost is nearly flat regardless of amount — sending $200 or $400 costs roughly the same $2–4 in total fees. For Wise and Remitly, fees scale as a percentage of the amount, so the cost roughly doubles for $400. Bank wires have a large fixed fee, making them relatively less punishing on larger amounts — though still expensive compared to alternatives.
Compare live rates across 370+ corridors on RemitRoutes · methodology.