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Choosing the Right Service to Transfer Money from the US to India: A Comprehensive Guide

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In 2021, global remittances stood at $781 billion, and in 2022 the amount increasedto $794 billion. According to a World Bank Report, India’s remittance flows soared to $100 billion in 2022 from $89.4 billion in 2021.

NRIs send money to India for several reasons – to support their families, cover expenses like healthcare and education, invest in property or other assets, pay employees and so on. Depending on their requirements, they usually send money via bank transfers or money transfer services.

Sending money from the United States to India

It isn’t a complex process to send money from USA to India with the right money transfer service. The difference in speed, cost, and convenience among different service providers can significantly impact which money transfer service you choose.

If you are an NRI residing in the US and need to send money to India, take some time to do your research on the options available to you. Compare different money transfer services and choose one that is most suitable. Before selectinga money transfer service, consider the following factors:

Exchange rates

Knowing the exchange rate is crucial. Look for a service offering a better exchange rate to ensureyour recipient receives the maximum amount. Even a small difference in the exchange rate can affect the amount the receiver gets, especially if you are transferring a large sum.

For instance, if you want to transfer $10,000, and service A is offering ₹0.10 more than Service B, it will make a difference of ₹1,000 in the final amount the receiver gets in their account.

One of the leading money transfer services in the US, known for offering the great exchange rates is the Money2India service provided by ICICI Bank. Money2India offers slab-wise exchange rates wherein the sender gets better exchange rate when he/she sends higher amounts. Visit Money2India website to check slabs and the corresponding exchange rate offered

Transfer fee

As the term suggests, a transfer fee is the charge levied by a money transfer service for remitting the amount. Some companies charge a fixed amount, whereas others charge a variable fee based on the amount you transfer. Additionally, some services may have hidden fees, such as conversionor receiving fees, that can add up and impact the final amount received. It’s important to carefully review the fee structure of the service to ensure that you are getting a good deal.

The Money2India service by ICICI Bank has the lowest transfer fee compared to other services. You pay only $4 for sending up to $1,000; if you send more than $1,000 in a single transaction, there is no transfer fee!

Transfer speed

When you transfer funds from the US to India, you want the transactioncompleted as soon as possible, especially in case of an emergency. Some services offer same-day or next-day delivery, while others may take up to a week. Look for a service that transfers funds quickly, like the ICICI Bank Money2India. Appx. 90% of Money2India transactions get funds delivered to beneficiary account in 3-4 hours.


When transferring funds, whether it is $100 or $1,000, security is of utmost importance. Look for a company that is regulated and licensed by financial authorities. The ICICI Bank Money2India remittance service employs world-class security features, guaranteeing the safety of all your transactions. While most electronic fund transfers are processed through ACH and are entirely online, ICICI Bank offers added security features like 128-bit SSL data encryption, secure login, security questions, identity confirmation, and a restricted number of login attempts.


Make sure the company has a good reputation and a track record of promptly delivering funds. ICICI Bank is India’s largest private sector bank andone of the most trusted ones. Its Money2India service has conducted over 3 billion successful transactions and is trusted by over a million users.

Transfer limit

Choose a remittance service that offers a high transfer limit. With the ICICI Bank Money2India service, you can transfer up to $300,000 in a single transaction and up to $2 million monthly. You can trust Money2India as it helps save time in doing multiple transactions and is cost-efficient.

Customer support

Finally, choose a service that offers excellent customer support. In case of any issues, you should be able to get in touch with the service’s customer support team quickly and easily. With ICICI Money2India, you get round-the-clock customer support.

Furthermore, you get access to customer support on ground via their New York branch and representative offices in California and Texas.

Now that you know what to look for in a money transfer service to send money to India, you can make an informed decision and choose what best suits your requirements. Each service is unique in its offerings, and overall, ICICI Money2India is anexcellent option as it caters to your money transfer needs on all counts.

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