For India transfers, Wise and Remitly Economy usually win on total cost (mid-market rate, low fee), Money2India (ICICI) suits large bank-to-bank NRI transfers, and Xoom is fastest but priciest. RIA sits mid-pack — cheaper than Xoom, pricier than Wise — with strong cash-pickup coverage.
Side-by-Side: RIA vs Remitly vs Xoom vs Money2India
All four send money to India, but they optimise for different things — cost, speed, or bank integration. Here is how they compare on the factors that decide your total cost.
| Service | Typical Fee | Exchange Rate | Speed | Best For |
|---|---|---|---|---|
| RIA | $0–$5 | ~1–2% markup | Mins–1 day | Cash pickup |
| Remitly | $0–$3.99 | Near mid-market (Economy) | Mins (Express) / 3–5 days (Economy) | Low total cost |
| Xoom (PayPal) | $4.99+ | ~2–3% markup | Minutes | Speed |
| Money2India (ICICI) | Low/flat | Bank rate | 1–3 days | Large NRI transfers |
Where RIA Money Transfer Wins (and Loses)
RIA has one of the largest cash-pickup networks in India, which matters if your recipient does not use online banking. Its fees are low and often waived on first transfers. The catch is the exchange-rate markup — typically 1–2% above mid-market — which on larger amounts costs more than the upfront fee. For deposits to an Indian bank account, Wise or Remitly Economy usually beat RIA on total cost.
RIA vs Remitly
This is the most-searched matchup. Remitly's Economy tier uses a near mid-market rate and low fee, making it cheaper than RIA for bank deposits. Remitly's Express tier is faster but priced more like RIA/Xoom. Choose RIA if cash pickup or RIA's specific payout partner matters; choose Remitly Economy to minimise total cost when sending to a bank account.
Xoom and Money2India: When They Make Sense
Xoom (a PayPal service) is the fastest of the four and the most convenient if you already use PayPal, but you pay for it in both fee and rate markup. Money2India from ICICI Bank is built for NRIs moving larger sums bank-to-bank; its flat-fee structure and bank-grade rates can beat the apps once you cross a few thousand dollars, though transfers are slower and require ICICI onboarding.
The Verdict
For most people sending money to India, compare Wise and Remitly Economy first — they typically deliver the most rupees per dollar. Use RIA for cash pickup, Xoom when speed is non-negotiable, and Money2India for large NRI bank transfers. Always check the total received amount, not just the advertised fee — the exchange-rate markup is where most of the real cost hides.
Frequently Asked Questions
Is RIA cheaper than Remitly for sending money to India?
Usually no for bank deposits — Remitly's Economy tier typically uses a better exchange rate, making it cheaper overall. RIA can be competitive for cash pickup or small first-time transfers where the fee is waived. Always compare the final INR amount received.
How do Remitly, Xoom, and Money2India compare for India?
Remitly Economy is cheapest for bank deposits, Xoom is fastest but costs the most, and Money2India (ICICI) suits large NRI bank-to-bank transfers with flat fees. For everyday remittances, Remitly or Wise usually deliver the most rupees per dollar.
What is the cheapest way to send money to India in 2026?
For most transfers to an Indian bank account, Wise (mid-market rate) or Remitly Economy give the lowest total cost. The biggest hidden cost across all services is the exchange-rate markup, not the upfront fee — so compare the amount your recipient actually receives.