3 International money transfer apps for Indians living abroad

By Leandra Monteiro

International money transfer apps and platforms are becoming more and more common with the number of Indians moving abroad steadily growing. People are using these apps to send money to friends and family members overseas, make university tuition payments, and pay for services overseas. These apps are easy to use, and most times charge lower fees than traditional banks.

Here are 3 such apps that are making money transfers easy for Indians:

• Instarem

Founded in 2014, Instarem is a Singapore-headquartered cross-border payments company and is licensed to operate in Singapore, Australia, Malaysia, Hong Kong, Indonesia, Japan, India, Europe, United Kingdom, United States, and Canada.

The app offers a smarter, faster, and more affordable way to move money across borders. A way without unfair exchange rates, hidden fees, or other complexities. The app is available for both individuals looking to send funds overseas or a business in need of an efficient low-cost payment solution.

• Remit2India

A Wire Transfer through Remit2India allows users to transfer money to India from any existing bank account overseas in just 3 working days. Remit2India is a good option for sending large amounts to India if it is not an urgent requirement.

Users can send up to $50,000 using ACH and up to $200,000 with a wire transfer, both of which can take 2 or more days, without a transfer fee. The app also offers instant transfers of up to 200,000 INR with a transfer fee.

• Wise

Wise is a global technology company, building a way to move money around the world. With the Wise account people and businesses can hold over 50 currencies, move money between countries and spend money abroad.

Co-founded by Kristo Käärmann and Taavet Hinrikus, Wise launched in 2011 under its original name TransferWise. It is one of the world’s fastest-growing, most profitable technology companies and is listed on the London Stock Exchange. 16 million people and businesses use Wise globally, which processes £9 billion in cross-border transactions every month, saving customers around £1.5 billion a year.

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