$120B+ — Annual remittances received by India (2023)
| Provider | Transfer Fee | FX Markup | Estimated Total Cost | Speed |
|---|---|---|---|---|
| Bank Wire (SWIFT) | $35–50 | 2–3% | $55–80 | 2–5 days |
| Western Union | $5–15 | 1.5–3% | $15–35 | Minutes–2 days |
| Remitly Express | $3.99 | 0.5–1% | $6–9 | Minutes–hours |
| Wise | $3–6 | ~0% | $3–6 | 1–2 days |
| USDC on Stellar (via CoinDCX) | $1–3 | ~0.3% | $3–5 | < 2 hours |
~$30 — What you save per transfer by choosing Wise over a bank wire
The cheapest option is typically USDC on Stellar via CoinDCX, with a total cost of $2–4. The cheapest traditional service is Wise at $3–6 with no FX markup. Use RemitRoutes to compare live costs for your exact transfer amount.
Remitly Express delivers in minutes to hours. Wise typically completes in 1–2 business days. USDC on Stellar settles on-chain in seconds; CoinDCX withdrawal to an Indian bank account takes 1–3 hours. Bank wires take 2–5 business days.
Yes. Wise uses the mid-market rate with zero markup, which is the best exchange rate available. The only cost is a small transparent fee (typically $3–6 on a $500 transfer). This makes Wise one of the cheapest traditional providers on the USD-INR corridor.
Your recipient needs a verified account on an Indian crypto exchange like CoinDCX to receive USDC and convert it to INR. They can withdraw INR directly to their bank account. Account setup and KYC takes about 24 hours. Once set up, this is the lowest-cost route for regular transfers.
Most providers allow up to $10,000–$25,000 per transfer for verified accounts. India's RBI permits inward remittances without a fixed cap for personal transfers. For amounts over $10,000, you may need to complete enhanced verification with your provider. A $500 transfer is well below any typical limit.
Compare live rates across 370+ corridors on RemitRoutes · methodology.