Summary: Looking for a trustworthy and affordable international money transfer app in India? Our team of experts has thoroughly assessed various money transfer apps to assist you in making an informed choice. Continue reading to discover the top international money transfer apps in India.
Sending money across borders has become a regular thing for a lot of people – whether you’re a student studying abroad, have friends and family overseas, or make investments in a foreign land. Now, even though the idea of sending money abroad sounds simple, the actual process can get pretty complicated. That’s why it’s crucial to pick the right money transfer app.
Scrolling through all these options can feel like diving into a sea of choices, making you second-guess which one to actually rely on. So, in this blog, we’ve done some deep-diving ourselves – a thorough comparison of various international money transfer apps in India, all based on our experts’ criteria. Our goal with this analysis is to be your guide in selecting the best money transfer app in India that perfectly fits your unique needs.
Our Ranking Criteria for Choosing the Best International Money Transfer Apps
When it comes to choosing the best international money transfer app, several crucial factors come into play. Our comprehensive evaluation takes into account the following key considerations:
1. Exchange Rate: We’ve given paramount importance to exchange rates in our ranking criteria. Our assessment involves a thorough analysis of real-time and competitive rates to ensure that recipients receive the maximum value.
2. Fees and Charges: Understanding the various fees associated with international money transfers is vital. We have made a thorough examination of transfer fees, service charges, and other potential costs.
3. Transfer Speed: Time matters, especially in the world of money transfers. Our ranking considers the transfer speeds offered by different app providers, ranging from same-day transfers to those taking several days.
4. Hassle-Free Booking Process: The ease and convenience of the remittance process are paramount. We have considered how user-friendly and hassle-free each provider’s booking process is for sending money abroad. Let’s keep it simple, after all.
5. App Order flow: The user-friendliness of the app and its order flow are crucial aspects of our evaluation. We assessed the simplicity, smoothness, and number of steps involved in the app’s order flow, aiming for a seamless user experience.
6. Operating System: Our evaluation process included verifying compatibility with both iOS and Android devices. This ensures accessibility for a wide range of users, regardless of their preferred operating system.
7. Play Store & App Store ratings: We’ve delved into ratings from both the Google Play Store and the Apple App Store, considering them as valuable insights into the quality and user experience of the app.
8. Customer reviews: We’ve considered the number of reviews available for each app, as real user feedback provides valuable insights into the app’s reliability, ease of use, and overall user satisfaction.
9. App Security Features: We have carefully evaluated the app’s safety features and compliance adherence. This includes checking whether the app asks users for a valid documentation check, implementing two-step verification using OTP, etc.
Top 5 International Money Transfer Apps in India
Selecting the right international money transfer app is crucial to ensure smooth and cost-effective cross-border transactions. The ranking of these money transfer apps has been meticulously done, considering the criteria mentioned earlier. Depending on your preferences and priorities, you can pick from these apps to meet your international money transfer requirements. Without further ado, here are the top 5 International Money Transfer Apps in India:
| S . No. | Best International Money Transfer Apps in India | Rating |
|---|---|---|
| 1 | BookMyForex App | 4.6/5 |
| 2 | Axis Bank Mobile App | 4.0/5 |
| 3 | Unimoni App | 3.9/5 |
| 4 | ICICI iMobile Pay | 3.7/5 |
| 5 | HDFC MobileBanking App | 3.1/5 |
1. BookMyForex App
BookMyForex App offers a streamlined and user-friendly experience for international money transfers. With a commitment to providing swift and affordable remittance services, the app offers highly competitive exchange rates, ensuring users receive optimal value for their money. Whether sending funds for personal or educational purposes, the app’s intuitive interface and easy booking process make it a trusted choice for hassle-free and efficient cross-border transactions. The app keeps things simple with an order flow that’s easy to get the hang of. To say it all, the app is your go-to buddy for hassle-free cross-border transactions!
What makes the BookMyForex App on this list?
BookMyForex has secured its position on this list by offering a host of compelling features and advantages:
1. Best Forex Rates
2. Easy Booking Process via App
3. Swift Fund Transfers to 150+ countries
4. Zero Transfer Charges
5. Dedicated Customer Support
6. Secure Transfers via Reputed Banks
7. Rate Lock-in for up to 3 Days
8. Smooth app order flow
9. Excellent app ratings
10. Advanced app security features
Our Ranking Criteria & Ratings
| Criteria | Details | Rating |
|---|---|---|
| Exchange Rate: | Live and transparent rates, a minimal 0.3% markup over base rates | 4.4/5 |
| Fees and Charges: | No service fee or transfer charges after applying the promo code | 5/5 |
| Transfer Speed: | Processed within 12-48 business hours | 4.4/5 |
| Hassle-Free Booking Process: | User-friendy app interface, 24*7 easy booking option available | 4.8/5 |
| App Order Flow: | App flow is intuitive and efficient; with minimal steps involved, an easy documentation process, exit option button to resume the booking later | 4.8/5 |
| Operating System: | Compatible with both iOS and Android operating systems | 5/5 |
| Play Store & App Store Ratings: | Rating of 4.6 on the Play Store and a rating of 4.0 on the App Store | 4.5/5 |
| Customer Reviews: | 1.1K reviews on the App Store and 3.68T reviews on the Play Store. | 4.0/5 |
| App Security Features: | Secure login and account access, Strong encryption for data transmission, User authentication to prevent unauthorized access | 4.8/5 |
Overall Rating: 4.6/5
2. Axis Bank Mobile App
Axis Bank, a reputed bank in India provides an extensive range of financial services, including international money transfers. The bank facilitates international transfers through various channels such as Internet banking, mobile apps, and branch visits. You can remit 100+ currencies easily using the Axis Bank mobile app. However, despite its convenience, it’s noteworthy that the Axis Bank App applies a significant markup on the exchange rates for such transactions.
What makes the Axis Bank Mobile App on this list?
Axis Bank Mobile App earns its spot on this list due to a variety of features and benefits:
1. Remit 100+ Currencies
2. Safe & Secure Transfers
3. In-branch and Online Payments
4. Swift Transfers
Our Ranking Criteria & Ratings
| Criteria | Details | Rating |
|---|---|---|
| Exchange Rate: | 3-3.5% markup over base rates | 3.5/5 |
| Fees and Charges: | Rs 1000+GST and Rs 500 Swift Charges | 4.0/5 |
| Transfer Speed: | 24-72 business hours | 4.2/5 |
| Hassle-Free Booking Process: | User-friendly app interface, easy-to-use mobile app | 4.5/5 |
| App Order Flow: | Smooth order flow, 9-10 steps involved in the order booking process | 4.3/5 |
| Operating System: | Compatible with both iOS and Android operating systems | 5/5 |
| Play Store & App Store Ratings: | Rating of 4.7 on the Play Store and a rating of 4.8 on the App Store | 4.8/5 |
| Customer Reviews: | 175K reviews on the App Store and 2.49M reviews on the Play Store. | 4.9/5 |
| App Security Features: | Secure authentication, Adherence to regulatory requirements | 4.8/5 |
Overall Rating: 4.0/5
3. Unimoni App
Unimoni App is designed for quick, secure, and cost-effective cross-border transactions. The app provides a convenient way to send money abroad for various purposes, including education fees, living expenses, maintenance of close relatives, etc. However, it’s essential to note that a lot of users find the Unimoni App to be user-unfriendly. Despite this potential inconvenience, the Unimoni app stands out as a practical solution for swift and secure funds transfer abroad.
What makes the Unimoni App on this list?
Unimoni presents a diverse array of features and advantages, such as:
- Remittance to Over 180 Countries
- Competitive Exchange Rates
- Highest Level of Security
- 24/7 Customer Support
- Wallet-to-Wallet Transfer Option
- Advanced App Security
Our Ranking Criteria & Ratings
| Criteria | Details | Rating |
|---|---|---|
| Exchange Rate: | 0.7% markup over base rates | 3.9/5 |
| Fees and Charges: | Rs 250 Transfer fee, Rs 200-350 Cash pickup fee | 3.4/5 |
| Transfer Speed: | 24-48 business hours | 4.2/5 |
| Hassle-Free Booking Process: | Mixed reviews about the booking process | 3.5/5 |
| App Order Flow: | User-unfriendly app interface, Inconvenient order booking flow | 3.4/5 |
| Operating System: | Compatible with both iOS and Android operating systems | 5/5 |
| Play Store & App Store Ratings: | Rating of 4.3 on the Play Store and the App Store | 4.3/5 |
| Customer Reviews: | 4 reviews on the App Store and 853 reviews on the Play Store. | 3.6/5 |
| App Security Features: | 2-Factor Authentication (2FA), Secure Data Transmission, Regular Security Updates | 4.7/5 |
Overall Rating: 3.9/5
4. ICICI iMobile Pay
ICICI iMobile Pay, the mobile app from ICICI Bank, offers a seamless way to transfer money overseas from India. Whether you’re studying abroad, supporting family overseas, or making international payments for investments, the ICICI Bank mobile app has you covered. However, note that users can send money abroad only to 19 countries which suggests that the app has a limitation on the number of currencies available for outward remittances. Users are also required to undergo a KYC process online, which may add some time to the overall process.
What makes ICICI iMobile Pay on this list?
ICICI Bank provides a diverse array of features and benefits, such as:
1. Safe & Secure Transfers
2. 24/7 Convenient Booking
3. Send Money to 19 Countries
4. Transparent Fees & Charges
5. Great customer reviews on the App
Our Ranking Criteria & Ratings
| Criteria | Details | Rating |
|---|---|---|
| Exchange Rate: | 3% markup over base rates | 3.0/5 |
| Fees and Charges: | Rs 1000+GST + intermediary banks processing fee | 3.0/5 |
| Transfer Speed: | 24-72 business hours | 3.7/5 |
| Hassle-Free Booking Process: | 24/7 Booking Option Available, Easy-to-use App | 4.3/5 |
| App Order Flow: | Convenient order flow, few simple steps involved, only limited currencies available | 3.7/5 |
| Operating System: | Compatible with both iOS and Android operating systems | 5/5 |
| Play Store & App Store Ratings: | Rating of 4.6 on the Play Store and a rating of 4.8 on the App Store | 4.7/5 |
| Customer Reviews: | 6.1K reviews on the App Store and 53L reviews on the Play Store. | 4.8/5 |
| App Security Features: | ecure login and account access, Strong encryption for data transmission, User authentication to prevent unauthorized access | 4.8/5 |
Overall Rating: 3.7/5
5. HDFC Mobile Banking App
HDFC Bank, a trusted name in India’s private sector banking, provides an option for sending money overseas through its dedicated mobile app. While the app ensures a reliable and secure method for cross-border transactions, it comes with certain limitations. The service is exclusively accessible to HDFC Bank account holders who are registered for Third Party Funds Transfer (TPT). Furthermore, the remittance facility is restricted to a only specific set of purposes. For remittances related to other purposes, applicants are required to visit the nearest branch.
What makes the HDFC MobileBanking App on this list?
HDFC Bank presents a comprehensive array of features, including:
1. Send Money to 22 Countries
2. Fast and Reliable Transfer Speeds
3. Advanced Security Features
4. Convenient and Easy-to-Use Mobile App
Our Ranking Criteria & Ratings
| Criteria | Details | Rating |
|---|---|---|
| Exchange Rate: | 2-3% markup over base rates | 3.2/5 |
| Fees and Charges: | Up to USD 500 or equivalent - Rs. 500+GST, Above USD 500 or equivalent - Rs. 1000+GST | 3.0/5 |
| Transfer Speed: | Upto 72 business hours | 3.4/5 |
| Hassle-Free Booking Process: | Restricted to a only specific set of purposes, Only available for bank account holders | 3.0/5 |
| App Order Flow: | user-friendly app, however lengthy documentation process involved | 4.0/5 |
| Operating System: | Compatible with both iOS and Android operating systems | 5.0/5 |
| Play Store & App Store Ratings: | Rating of 3.9 on the Play Store and a rating of 3.4 on the App Store | 3.5/5 |
| Customer Reviews: | 1.8K reviews on the App Store and 11.3L reviews on the Play Store. | 4.5/5 |
| App Security Features: | Two-factor authentication (2FA), Secure Encryption, Secure Socket Layer (SSL) | 4.8/5 |
Overall Rating: 3.1/5
Final Verdict:
After an in-depth comparison using the outlined criteria, the BookMyForex App clearly takes the lead among its counterparts in India. With exchange rates that aren’t just competitive but the lowest, and the benefit of zero transfer charges, this app is a game-changer. Its top-notch customer support, seamless app flow, and advanced security features further solidify the BookMyForex App as a trustworthy solution for making international money transfers both seamless and cost-effective. It’s not just an app; it’s a reliable companion for hassle-free cross-border transactions.
