In reality, transfer money from Germany to India is more simpler than we imagined. The process of sending money from Germany to India is simple, easy, and secure, But there are some things you should think about to make sure the transfer goes smoothly.
First, you should choose a service for sending money that you can count on. Find out what each provider’s fees and exchange rates are and compare them to make sure you’re getting the best deal.
Second, you will need to give correct and complete information about the person receiving the money, such as their name, address, and bank account information. Before you send in the transfer request, make sure to double-check all the information to avoid delays or mistakes.
Table of Contents
Best Methods to transfer Money from Germany to India
Final Thoughts
How do I transfer money from Germany to India Safely?
There are several choices to transfer money online, such as TransferWise, Western Union, MoneyGram, and many more. All these choices are safe and secure.
Is Online Money Transfer safe and secure?
Yes, all these choices are safe and secure, if you follow the instructions correctly.
How long it takes to reach the recipient?
Usually, it takes anywhere from 1 hour to 3 business days, depending on the service provider, the payment method, and the country where the money is going.
Do I have to pay more fees?
Transferring money from Germany to India may incur fees. The service provider, amount sent, transfer method, and other factors might decide the costs.
Before we go into the list of choices for transferring money, let’s first go through how money gets transferred from one country to another.
Peer-to-peer (P2P) money transfer models are used by most money transfer providers; one such company is Wise (Formerly knows as Transferwise). This means that it matches your transfer with another person or business that is sending money in the opposite direction. This way, TransferWise doesn’t have to move money across borders, which can be expensive and take a lot of time.
For example, if you want to transfer money from Germany to India, TransferWise will match your transfer with someone who wants to send money from India to Germany. TransferWise doesn’t move money between the Germany and India. Instead, it sends money from the German recipient’s account to the Indian recipient’s account, and vice versa. This means that neither party has to go through a traditional bank to get the money they need.
TransferWise is able to offer better exchange rates and lower fees than many traditional banks and money transfer services because it is based on a peer-to-peer model. It also lets transfers happen faster because the money doesn’t have to cross borders. Overall, the P2P model is a big reason why TransferWise is so popular and successful with consumers.
Now I’ll provide a list of the best ways to transfer money from Germany to India or anywhere else in the globe. This comparison was done using current exchange rates as a reference.
A quick comparison of EUR to INR Exchange rates
89,650 ₹
89,905 ₹
89,890 ₹
89,508 ₹
85,074 ₹
89,935 ₹
Tips: XE.com allows you to subscribe to an alert whenever the Euro to Indian Rupee exchange rate reaches a higher threshold you choose.
Wise (Formerly TransferWise) is a popular money transfer service that is utilized by many expats. Wise features the best market prices and a variety of payment options. Payment methods include bank transfers, debit and credit cards, and instant online payments. Wise locks the exchange rate and initiates the transfer process once your payment is received. The maximum amount of time that may be expected is 2 working days. However, they usually arrive within minutes.
€1 = 89.50 ₹
- Low Cost Transfer: 5.58€
- Fast Transfer: 9.64 €
- Easy Transfer: 6.78 €
🕒 1 Hour – 2 Days
- Free Account & Profile
- Unlimited Application
- SCHUFA & Documents Attachment
- Expensive Premium Account [29.99€ / Month]
Skrill (previously Moneybookers) is a digital wallet service provider founded in 2001 that provides a variety of online payment and money transfer services. Skrill Money Transfer, its remittance service, also allows for cross-border payments.
€1 = 89.935 ₹
- Bank Transfer: 0.00€
- Debit Card: 0.00 €
- Credit Card: 5.00 €
🕒 1 Hour – 2 Days
InstaReM (short for Instant Remittance) is a Fintech firm based in Singapore that provides digital cross-border money transfers to individuals and companies. InstaReM frequently provides discount codes, and users can receive a 15€ discount when transferring more than 200€.
€1 = 89.905 ₹
- Bank Transfer: 0.00€
- Debit Card: 0.00 €
- Credit Card: 5.00 €
🕒 1 Hour – 2 Days
Remitly is a digital remittance company that allows individuals to send money internationally and operates in over 20 countries worldwide. Remitly supports a wide range of payment options, including bank transfers, credit or debit card payments, and mobile wallet transfers.
Remitly offers two types of money transfer options: Express and Economy. Express transfers are typically completed within minutes, while Economy transfers can take up to 3 to 5 business days to process. The exact transfer time will depend on the destination country and the payment method you’ve chosen.
€1 = 87.1 ₹
- Bank Transfer: 0.00€
- Debit Card: 0.00 €
- Credit Card: 5.00 €
🕒 1 Hour – 2 Days
WorldRemit
Western Union
Final Thoughts
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WRITTEN BY
Dhanesh