Best Way To Send Money from South Africa to India 2024 (2024)

1. Cheapest: CurrencyFair
2. Best exchange rate: CurrencyFair
3. Fastest provider: CurrencyFair
4. The best rated: CurrencyFair

• CurrencyFair: 995.66 ZAR

When you are looking to send money from South Africa to India it's important that you calculate the total cost of your South African Rand to Indian Rupee transfer. You'll want to pay attention to both the upfront fee the provider shows you as well as the ZAR/INR exchange rate.

Often providers will claim to have low, or even no fees, but in reality they're hidden within the exchange rate. Right now, the ZAR/INR interbank rate is 4.72297. Whenever you compare fees for transferring money from South Africa to India, it can pay off to look at the exchange rate they offer.

For example, most traditional banks add a hidden markup to the exchange rate they offer you. If 1 ZAR is 4.72297 INR, your bank can add a 3% exchange rate markup and give you a rate of 1 ZAR = 4.86466 INR. Depending on how you set up your transfer this could mean that it would cost you more or your recipient could receive less.

CurrencyFair, the cheapest option, has a ZAR/INR exchange rate of 4.6770 and a fee of 995.66 ZAR. This would save you 0 ZAR compared to CurrencyFair, who has a fee of 995.66 ZAR.

Pricing data is collected from providers' websites, and the fee is calculated by factoring in the total cost (the transfer fee plus exchange rate margin).

Providers in the table typically take:

• CurrencyFair: 1-3 Days

Typically, sending money from South Africa to India will be much faster using a money transfer company compared to a bank that can take 3-5 working days. The fastest provider in our table to transfer money from South Africa to India is CurrencyFair (1-3 Days).

Of the 1 providers we found for transferring money from South Africa to India, here’s how they stack up in terms of number of reviews and average score on TrustPilot:

• CurrencyFair: 7,737 reviews, rated 3/5 on Trustpilot

You've got a few key options if you need to send money from South Africa to India:

• Bank transfer from South Africa to India - most banks will let you send money internationally online, by visiting a branch or by phone. Payments to INR will be sent directly from your bank account to your recipient's local bank account in your chosen currency.
• Walk into a branch - several specialist money transmitter services operate through large branch and agent networks, so you can visit a physical store and make your INR payment in cash if you want to.
• Send money online from South Africa to India - if you'd rather make your GBP/INR payment online or using your smartphone, you can choose your own bank's online banking service, or an international payment specialist. Specialist services can often offer better exchange rates and lower fees than banks.

Sending money from South Africa to another bank account in India is often the most convenient option - both for you, and your recipient. Your recipient doesn't need to take any action to receive the money, it just lands in the nominated account in the currency you choose, and can be spent or withdrawn easily.

If you're sending money from South Africa direct to a bank account in India, choosing a specialist provider can be the cheapest and fastest way to make your payment. Different providers have their own processes for arranging payments - but the steps you'll take are usually roughly the same:

4 easy steps to send money with a money transfer provider:

1. 1

   Create an account
   Register a new account with your preferred service, by entering your contact details and some basic information. You may even be able to do this using Facebook or Google for convenience

2. 2

   Verify your identity
   Depending on the type of payment you're making, you may need to verify your account by uploadingan image of your ID documents. This step helps keep your money safe, and is often a legal requirement.

3. 3

   Top-up your account
   Add money to your account in pounds, using a bank transfer or card payment.

4. 4

   Add recipient details and send
   Once you’re ready to send a payment, add your recipient’s personal and bank account details, check the exchange rate and fee applied to your payment, and confirm. That’s it - your money will now be sent, and you can track its progress online or in your provider’s app.

What is the best way to transfer money internationally?

There's no single best way to transfer money from South Africa to India. It all depends on your priorities. Different providers offer a different balance of cost, speed and convenience. Using our comparison tool to check out a range of providers is a good way to painlessly find the best option for you.

How to send money from South Africa to India?

You can send money from South Africa to India using your own bank, a specialist money transfer service, an e-wallet, or by visiting a physical money remittance store. Each option has different pros and cons, so the best for you will depend on your specific transfer and personal requirements.

Can I send international money transfers from South Africa to India for free?

You can't send money to India from South Africa for free. International transfers cost providers money to arrange, so there's always a fee somewhere to make sure that the business covers its costs and generates profit. However, many providers choose to make the fees you pay trickier to spot by adding them into the exchange rates used for transfers. That way they can advertise commission free payments, while still making some money every time.

How to calculate the exchange rate?

When is the best time to transfer money from South Africa to India?

How to send money online instantly?

Transfers made online for cash pickup, or to mobile wallets, are often available quickly - if not exactly instant. You may also be able to send an instant payment with an ewallet service. However, in both cases, you’ll probably pay a premium for the speed.