Sending US Dollar to Indian Rupee With Remitly (Best Exchange Rate?)

Remitly is one of the best online remittance services to help you safely and affordably send money to India from the United States. With their user-friendly mobile app, you can eliminate the hassle of traditional money transfer methods, SWIFT codes, and hidden exchange rate fees.

Remitly offers Express or Economy transfer service, with Express delivering funds within minutes. Economy service offers a stronger USD to INR exchange rate but takes 3 to 5 business days. You can send up to $10,000 USD to INR per day.

What Monito Likes About Remitly

• Cheapest on 32% of USD to INR comparisons on Monito in 2022;
• Excellent choice for cash pick-ups;
• Numerous destinations are available around the world;
• Special exchange rates for first-time users.

What Monito Dislikes About Remitly

• 35% of fees are hidden in the exchange rate margin;
• A limited number of origin countries can't send to each other.

What You Need to Know About Sending Money From the United States to India With Remitly

Remitly is an international money transfer service headquartered in Seattle with offices in London, the Philippines, and Nicaragua. It operates transfers in over 47 currencies around the world and offers good rates for USD to INR transfers.

The money transfer company allows you to transfer money to bank accounts in major Indian banks, such as ICICI, SBI, Citi Bank, Axis Bank, and more. Most importantly, Remitly is regulated under the following authorities:

• Registered Money Services Business with US Department of Treasury;
• Licensed as a money transmitter in the US;
• Regulated in the UK and Ireland (for the EU);
• Registered with FINTRAC.

Remitly is trusted by more than 3 million customers annually and offers a 100% satisfaction guarantee. All in all, this option ensures fast deposits and on-time delivery for transfers from dollar to INR. You can learn everything you need to know with our in-depth Remitly review.

Fees for Dollar to Rupee Transfers With Remitly

The fixed fee that Remitly will charge you will depend on the amount of your transfer. If you send $1,000 USD or more, then Remitly will waive its fixed fee entirely. If you send under $1,000, then you will be charged $3.99 per transfer.

Remitly also offers two kinds of transfers (Economy or Express). Express transfers send to your recipient in minutes while Economy transfers can take 3 to 5 business days to reach your account in India. In either case, Remitly will waive its fixed transfer fee of $3.99 as long as you send $1,000 or more.

Remitly’s USD to INR Rate

When you send money overseas, your transfer service will use an exchange rate to convert one currency to the other. Big American banks and mobile apps like PayPal apply markups as high as 7%, which can dramatically reduce the amount of money your recipient gets. They profit by pocketing that margin for themselves, known as an exchange rate margin.

Remitly, on the other hand, offers very reasonable dollar-to-INR exchange rates for transfers from the US to India. On Monito's real-time comparison engine, Remitly was the cheapest overall provider for 32% of dollar-to-rupee searches in 2022.

Dollar to Rupee Exchange Rate With Remitly Example

Let's look at an example of the Remitly rate from the United States to India, recorded on February 13th, 2023. Remitly offers strong USD to INR rates for their Economy service. Their Express service will apply a slightly weaker rate.

• USD to INR Real Mid-Market Exchange Rate: ₹82.70
• Remitly Economy Rate: ₹82.10
• Remitly Express Rate: ₹81.42

*Rates recorded on February 13th, 2023 at 12:00 CEST

In this example, Remitly applied a very low exchange rate markup of 0.72% for its Economy rate. This is a very competitive rate. For every 82.70 rupees you send, your recipient will get 82.10. If you got Remitly's Express rate, then you would have experienced a 1.54% markup.

While Remitly usually offers very good rates, the Remitly rate can fluctuate from minute to minute. This is why we recommend you use Monito's live comparison engine to compare the best rates today.

Dollar to INR Money Delivery Options With Remitly

You have three options as a sender from the United States to India. With Remitly, you can transfer your money by bank transfer, credit card, or debit card.

A bank transfer will likely be your best option since card processors like Visa and Mastercard may charge fees for processing debit and credit cards. Keep in mind that bank transfers will take 3 to 5 business days while card payments give you instant transfers.

What You Need to Send USD to INR With Remitly

Your recipient in India will have four ways of receiving money in India. You may send the money to him or her by bank transfer, cash pick-up, UPI (UPI Virtual Payment Address), or cash delivery. Make sure to have the following info at hand:

• Your recipient’s name as it appears on their valid ID;
• Your recipient’s address;
• Your recipient’s phone number.

If you want to send the transfer directly to your recipient’s bank account, you’ll need to have their payment details. Make sure to prepare the following: 

• Your recipient’s bank account number;
• The name of the bank.

Compare Remitly With Other Top Remittance Services

In summary, we highly recommend Remitly as an international money transfer service from the United States to India. Not only was it the cheapest provider in 2022 for 22% of all global searches on Monito. It was also the cheapest service for over 32% of Monito comparisons for transfers specifically from the USA to India.

In comparison, XE Money Transfer was the cheapest option for over 28% of USD-INR searches on Monito in 2022. Panda Remit took third place with over 18% in 2022.

If you're still not sure if Remitly the cheapest or safest, use our real-time comparison engine below to compare Remitly's dollar to rupee rate with other top remittance companies 👇