🇮🇳 → 🇺🇸 Send Money from India to USA (2026 Guide)

Best Services to Send Money from India to USA

Sending money from India to USA (INR → USD) is one of the most common remittance corridors in the world. Whether you're a student sending tuition, a parent supporting family abroad, or an NRI repatriating savings — the right service can save you thousands of rupees per year.

Fee & Rate Comparison: India to USA

Comparison as of May 2026. Rates change daily — always check the live rate before transferring.

How to Send Money from India to USA

Step 1: Check India's LRS Limit

Under the Liberalised Remittance Scheme (LRS), Indian residents can send up to USD 250,000 per financial year abroad without special RBI approval. This covers education, maintenance, travel, and investment purposes.

Step 2: Understand TCS on Remittances

From October 2023, remittances above ₹7 lakh per year are subject to Tax Collected at Source (TCS):

• Education loans: 0.5% TCS above ₹7 lakh
• Other education purposes: 5% TCS above ₹7 lakh
• All other purposes: 20% TCS above ₹7 lakh

TCS is not a final tax — you can claim it back when you file your ITR. Keep all transfer receipts.

Step 3: Choose Your Transfer Service

For amounts over ₹50,000, Wise typically offers the best combination of low fees and mid-market rates. Remitly is often faster (minutes for express transfers). Your bank's SWIFT wire is the most expensive option but may be required for large or regulated transfers.

Step 4: Gather Your Documents

• PAN card (mandatory for LRS transfers)
• Form A2 (filled at your bank for outward remittances)
• Purpose documentation (admission letter for education, maintenance proof for family support)
• Recipient's bank details: account number, routing number (USA) or transit number (Canada), SWIFT/BIC code

Step 5: Initiate & Track the Transfer

Most digital services complete India → USA transfers in 1–3 business days. Bank SWIFTs take 3–5 business days. Always save the transfer confirmation and SWIFT reference number.

Tax & Reporting Rules

• LRS limit: USD 250,000 per financial year per individual (RBI rule)
• TCS at 20% on most remittances above ₹7 lakh/year — claimable in ITR
• Education via loan: 0.5% TCS; education self-funded: 5% TCS above ₹7 lakh
• PAN mandatory for all outward remittances over ₹7 lakh
• FEMA compliance: Fill Form A2 at your bank for all outward foreign remittances
• FBAR (US side): If recipient holds Indian accounts with over USD 10,000, they may need to file FBAR

Tips to Get the Best INR to USD Rate

• Send larger amounts less often — fixed fees per transfer mean larger transfers have lower effective fee %
• Avoid weekends — currency markets are closed, spreads widen
• Compare on transfer day — INR/USD rates move 0.5–1% daily
• Use bank account delivery (not cash pickup) for best rates
• Set rate alerts — Wise and XE.com offer alerts when INR strengthens
• Plan around TCS thresholds — if you're near the ₹7 lakh limit, plan transfers across financial years

Frequently Asked Questions

What is the cheapest way to send money from India to USA?

Wise is typically the cheapest for large transfers — it uses the mid-market rate and charges around ₹150–₹600 depending on amount. Remitly often has zero fees for first-time transfers. Avoid bank SWIFT wires which cost ₹500–₹2,000 plus a worse exchange rate.

How much can I send from India to USA per year?

Under RBI's Liberalised Remittance Scheme (LRS), Indian residents can send up to USD 250,000 (approximately ₹2 crore) per financial year without special approval. This covers education, maintenance, travel, and investment.

What is TCS on remittances from India to USA?

From October 2023, remittances above ₹7 lakh per year attract Tax Collected at Source (TCS): 5% for education (self-funded), 0.5% for education via loan, and 20% for all other purposes. TCS is not a final tax — you claim it back when you file your income tax return.

How long does it take to send money from India to USA?

Digital services like Wise take 1–2 business days. Remitly express transfers can arrive in minutes. Bank SWIFT wires take 3–5 business days. Factor in Indian bank processing time (sometimes 1 extra day) when planning time-sensitive transfers.