Best Ways To Transfer Money From Germany To India

a woman holding her cellphone and atm card.

Sending money from Germany to India is a very frequent transaction. In Germany, over 290 million euros are sent to India every year. Around 120,000 German residents are of Indian origin.

The best money transfer options to send funds from Germany to India are:

  • Wise
  • Remitly
  • Xoom
  • World Remit

Best providers for sending 1,000 EUR from Germany to India (1,000 EUR = 87,124 INR):

[table id=20 /]

The money transfer options are plentiful out there. You can transfer money to India using a regular bank wire or a money transfer provider, like World Remit.

However, international money transfers can be complicated, and one can spend hours searching for the best and cheapest way.

So how can you transfer your money from Germany to India efficiently and without losing much on commission? Figure out in this article.

Best way to send money from Germany to India

paper and coin rupee bills in different denomination.

Sending money from the EU to non-EU countries is challenging. The German banking system is different from the Indian. Furthermore, counties use different currencies.

You will need to use the services of foreign money transfer companies since regular SEPA transfers aren’t available outside of the EU.

Companies like Wise, World Remit, Remitly, Western Union, and MoneyGram are the most commonly used providers to send money from Germany to India.

The last option is a local bank (don’t use it). Even if you transfer money with a credit card, it takes a percentage in commission and has bad exchange rates.

The best way to transfer funds from Germany to India depends on several factors. But certain options are suitable for all kinds of transfers.

For instance, if you are in the rash, Western Union or MoneyGram are the best options.

And if you have some days to complete the transaction, you should choose a money transfer company, where Wise is a well-rounded option for you. They offer the most inexpensive and easy solutions.

Yet, with Wise, you can send money in a short period of time and with the lowest fees.

Compare transfer options

Here are the best providers to send money from Germany to India

  • Best rated: Wise (9.5/10) and TransferGo (9.1/10)
  • Cheapest: Remitly and Skrill
  • Fastest: Remitly and Skrill
  • The best network for cash withdrawals: Western Union
  • Best rated for transfers with cash pickup: Small World (8.1/10)
  • Cheapest for large transfers: Skrill

Wise is the top-rated platform for sending money from Germany to India.

Wise rankings:

  • Trust-wordiness – 10
  • User-friendliness – 9,0
  • Fees and exchange rates – 9,2
  • Customer satisfaction – 9,7

You can compare it to the rankings of other providers:

  • Transfer Go – 9,1
  • Remitly – 9,0
  • Amino – 8,5
  • Skrill – 8,4
  • SW (small world) – 8,1
  • Currencyfair – 8,0
  • Instarem – 8,0
  • World Remit – 7,8
  • Xend pay – 6,6

Compare some popular money transfer options from Germany to India:

Transfer timeImmediately 3-5 daysAbout 1 dayImmediately
Fees5,91 EUR27,50 EUR18,71 EUR43,91 EUR
Payment methodBank Transfer / Direct Bank Transfer / Debit Card / Credit CardBank TransferInstant bank transfer / debit card / cashBank transfer / debit card / credit card

Here is an example of sending 1,000 EUR from Germany to India (1,000 EUR = 87,124 INR):

ProviderTransfer feeRecipient gets
Wise5,58 EUR86,647 INR
Remitly1,99 EUR86,430 INR
Xoom0 EUR86,388 INR
MoneyGram0 EUR86,230 INR
World Remit0 EUR86,216 INR
Western Union0,90 EUR84,422 INR
Deutsche Bank1,5 EUR84,237 INR
PayPal3,99 EUR83,637 INR

So far, the Wise is the best option, and PayPal is the worst.


screenshot of wise application.

The best option to send your money from Germany to India is by using the company Wise. Moreover, with them, you can do transfers in most countries in the world without losing on commission.

Transfer feesTransfer timePayment options
A flat fee of 0,51 EUR + 0.51% of the amount that’s convertedInstant or same dayDebit Card
Credit Card
Bank Transfer
Apple Pay


When transferring in a different currency, Wise converts your money at the real exchange rate. It’s always favorable for the sender.

Transfers from European Union to India arrive immediately or on the same day.

It is one of the best services out there regarding ease of use and conversion rates. Besides, the first transaction, up to $600, is free.

Currently, Wise operates in 59 countries, and they always add new currencies. You can send money in 55 currencies.

Wise is the least expensive money transfer option out there. But if you send money and receive money in the same currency, PayPal is also easy and cheap.

You can download the Wise app for an even easier money transfer.

Wise offers services for private clients, businesses, and freelancers – all for the best exchange rates and a small commission.

The money you send with Wise is automatically deducted from your bank.

Services of Wise don’t have any hidden costs. They provide full transparency for customers. The company also guarantees that your bank or bank of the receiver doesn’t charge anything additionally.

Wise always shows costs upfront, no hidden fees, no bad exchange rates, and no surprises.

Whereas, some companies in this industry do have a terrible exchange rate even when they don’t charge a commission.

For example, you can lose quite a lot while using the services of Western Union or Money Gram.

History of Wise

Wise is a good example when two expats were very disappointed with remittance services and decided to develop their own solution.

Wise was created in the UK by two Estonians who were working in the UK.

The pain of losing money on transferring money in different currencies was so significant that they decided to make the life of all ex-pats and immigrants easier and came up with this concept.

Many foreigners experienced this problem as well, until this moment when they found Wise.

It’s a very wise method of transferring money overseas as their exchange rate is the best I have seen so far. Plus, the service is almost lightning fast.

How it works:

1. Log in or create a free account at the Wise.com

2. Select international transfer and enter the amount.

3. Check current rates and proceed with the transfer. At that point, you will be able to see:

  • transfer fee
  • converted to the Indian rupee amount
  • exchange rate and
  • the sum that the recipient gets
  • your saving
  • transfer time

4. After, you can select to whom you send money: yourself, another person, or a business.

5. Enter the recipient’s bank details and finish the transfer.

The recipient in India gets money in Indian rupees at the best exchange rate you can ever find.

Transfer fees:

To send money to India from Germany, you just pay a small, flat fee of 0,51 EUR + 0.51% of the converted amount.

It might also depend on the payment method. Some of them have an added fee, which is also low.

Transfer time:

Wise is faster than many other providers; most of the transfers are done within the day. However, depending on the payment method, it can take to up to 3 days to complete.

World Remit

World Remit is an English company and one of the biggest money transfer companies in the world.

They do international money transfers and remittance services in more than 145 countries and over 70 currencies. 

Transfer feesTransfer timePayment options
A flat fee of 1,99 EURInstant or within 24 hoursBank account
Credit, debit, or prepaid card
Google Pay
Apple Pay


World Remit has some of the lowest cash transfer fees and offers a better exchange rate than competitor Xoom.

You must have an account to use World Remit, but signing up is free.

Pay attention to the transaction limits World Remit imposes. It depends on the country you are sending the money from.


Another popular option to send money from Germany to India is Remitly. It’s one of the best providers for transferring between developed and developing countries.

Transfer feesTransfer timePayment options
A flat fee of 2,99 EUR3 to 5 business days
Bank account
Credit card
Debit card


Remitly is a cost-efficient option, yet, exchange rates aren’t the best and are lower than other companies provide.

Remitly’s exchange rates are typically between 0,5% and 2% worse than general market rates. 

The service offers a promised delivery time—and if it isn’t met, you get your money back. Signing up for a Remitly account is free.

Transfer limits:

However, Remitly has its transaction limits. Individual users can send up to 999 EUR daily, and Remitly doesn’t allow you to set up recurring transactions. 

You can send more money after providing additional information to Remitly, such as the reason for the transfer or proof of how you are funding the transfer.

Overall, limits range between 2,999 EUR daily, and the highest a 10,000 EUR.

Bank transfer

Last but not least, you shouldn’t use a direct bank-to-bank transfer (bank wire) for international transfers in Germany.

These fees can quickly add up, and your German bank is going to be one of the most expensive ways to transfer money.

Exchange rates are very poor, and you will pay high transaction fees.

You’ll save significantly by using an international money transfer provider instead.

For example, if you send 1,000 EUR from Germany to India, the cheapest money transfer service will cost you less than 5 EUR, while Deutsche Bank will charge 43 EUR. 

Western Union

Western Union is the world’s biggest provider of remittance services. Today, almost every country in the world has at least one Western Union office where you can send and receive cash.


Instant cash delivery – this company is well known for its in-person cash transfers.

Western Union covers over 200 countries with 550,000 locations.

It’s the best overall for same-day delivery. You can just walk into the WU office and send cash for the receiver to get it almost immediately on another side of the world.

How it works:

You don’t need a bank account for their services; a transfer can be made in cash and require only your passport and the receiver’s name.

In general, the transaction can be done in two ways: the first is offline in the Western Union office. Almost every town in Germany has them, and some banks accept WU payments as well.

To send money, you only need to give cash to the agent together with the name of the recipient.

After the transaction is completed, you will get a unique number, which must be shared with the person in the destination country.

So they can pick up cash at the nearest Western Union office. Usually, it takes just a moment for the money to be sent and can be collected.

The second transfer option is online. In the last years, Western Union started to operate more online. Hence, you can also transfer money from your bank account.

However, for this method only, you must have a bank account. For the receiver, it’s optional. They can get the amount in cash and transfer it to their bank.

Money will be automatically converted to the local currency. It’s a good option when traveling and needing to send or receive money after losing your card or getting blocked.

Transfer fees:

The cost of transfers ranges widely. Transfer fees for amounts under 1,000 EUR can be under 5 EUR.

However, Western Union has terrible exchange rates. The recipient will get less money: between 1% to over 6%, depending on the destination.

Transfer limits:

Western Union has various transfer limits by country. For India limit of 50,000 EUR applies.

This type of transaction is only suitable when the receiver doesn’t have a bank account and if you send less than $1,000.


MoneyGram is the second-largest money transfer company after Western Union.


MoneyGram has offices in over 200 countries with 350,000 locations where you can send money without having a bank account in Germany.

How it works:

This company works in the same way that Western Union. Money can be transferred in cash or via a bank account.

In general, MoneyGram’s user experience has a lower ranking than Western Union. However, I received and sent money with both services and haven’t noticed the difference.

Transfer fees:

Costs for sending money with MoneyGram are on the higher end.

Upfront fees for transfers from bank accounts tend to be low, but fees, cash payments, and MoneyGram’s rate markups (which can go over 3%) tend to be high.

Overall, MoneyGram is more expensive than Western Union.

Transfer time:

The recipient can receive the money within the same day and often instantly after the transfer has been done.

Transfer limits:

MoneyGram has strict limits of 10,000 EUR per online transfer and per month.

Nevertheless, remittance services such as Western Union or MoneyGram have very unfavorable exchange rates and transaction fees. You will be paying a lot for their convenience and speed.

Fees for money transfers to India

One is straightforward: sending money through a regular bank (via bank wire) is always more expensive than using other service providers. Sparkasse, for example, charges at least 32,50 EUR for a transfer.

Moreover, you get a poor exchange rate with the bank, which adds to a total money loss.

On the other hand, services at Wise or Remitly and some other providers cost only low fees and have the best exchange rate. Fees at a Wise average around 5 EUR and 1,99 EUR at Remitly.

Generally, there are three main charges you might face when sending money to India:

Fixed fee

It’s a fixed EUR fee that banks and some other providers charge for their service. It could be as much as 40 EUR.

Percentage fee

A commission you pay on the total amount you transfer. Can range between 0,5% up to 2%. Some providers don’t have it.

The difference in the exchange rate

The main way money transfer companies and banks make money on international transactions is the difference in the exchange rate.

The real-time exchange rate is always the most favorable to the customer – company Wise uses this method.

Cheapest Way To Send Money To India From Germany

Indian man counting his rupees.

Overall, online money transfer companies offer the lowest costs for international transfers. The difference between them isn’t significant.

Below you can see how much it will cost to send 1,000 EUR from Germany to India with different providers.

[table id=20 /]

Limits for transferring money from Germany to India

There is no maximum amount for international transfers to India. However, many banks and transfer service providers have individual maximum amounts.

For example, you can only send 3,000 EUR daily to Sparkasse bank. Company Wise is very generous, and you can send about 1,200,000 EUR to India.

Yet, you also need to keep German rules in mind. It’s especially essential for deposits or withdrawals of foreign currency.

You need to report such transactions to the authorized bank. This rule applies to amounts equal to 50,000 USD or more.

How long does it take to transfer money from Germany to India?

On average, transfer time from Germany to India takes between 3-5 days. The time is counted in the business days.

Some providers will deliver money immediately or on the same day.

Do you have to pay tax on money transferred from Germany to India?

Generally, there are no tax obligations on the money you send to or receive in India. However, a sender must inform the German bank about a transfer for sums over 12,500 EUR.

If you don’t do so, you might face a fine of up to 30,000 EUR.

To whom does it apply?

The obligation to report the transfer applies to German residents.

The report must be submitted to the Bundesbank by the 7th calendar day of the month following the transfer.

How to report it?

Private individuals can report by phone at 0800 / 1234 111. Companies can do it online via the AMS registration portal.

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