There are several ways to send money from Germany to India. The table below shows the charges and the time it takes to send money from Germany to India. Please select the best option depending on your needs.
Money Transfer Operators: Money transfer operators (MTOs) are financial companies (but usually not banks) engaged in cross border transfer of funds using either their internal system or using their collaborations with other international banking networks. Eg: Wise, Western Union.
SWIFT: Society for Worldwide Interbank Financial Telecommunication (Offline money transfer facility that can be availed at bank branches overseas)
Foreign Currency Demand Drafts: A form of demand draft made in foreign currency at various bank branches located overseas to remit money to India. The equivalent amount in INR will be debited for remittance.
Time and Charges
| Place | Internet/Mobile Banking | Money Transfer Operators | Agents | Foreign Currency Demand Draft | SWIFT Transfers |
| Germany | 3-5 days Fee 17.18 Euros | Immediate – 3 days Fee 0 + Good Exchange Rate | Cash immediate or 1-2 days Fee .9 Euro + Low Foreign Exchange Cost Total cost around 7 -10% | Immediate – 3 days Draft making fee | 1-5 days Minimal Fees |
FAQ
In order to transfer money from Germany to India, which is better: a bank or an operator ?
A bank transfer is more expensive than using an operator. An operator such as Wise is faster and cheaper. Swift transfers on the other hand take longer but are cheaper.
To find the time it takes to send money from New Zealand to India, click here.
While conducting financial transactions in India, NRIs face many problems. However, now NRIs can use the SBNRI platform to get their financial queries/ complaints resolved online. You can download SBNRI App to apply for an NRI account, file taxes, invest in the Indian stock market and ask any questions related to them.
