From Thursday, February 6th your transfers from India will be completed into 2 working days and our fees will increase to make that happen. That’s because we need to cover the costs of our bank partners, customer support, overheads and other costs.
We are still in the beta phase of sending money from India - this means your transfers are not as cheap, fast, or easy as we’d like them to be.
One of the most common pieces of feedback we received from you, our early users, has been that transfers from India have been slow. That’s changing now. We have improved our speed to complete a transfer from up to 8 working days to just 2 working days.
Because of that we’ve had to raise our fees to cover our costs. We know that this isn't great news, and we're sorry about that.
We'll bring those fees back down as soon as we can. When our costs go down, your prices will go down.
For reference, here are the fees send 100,000 INR to the UK (GBP), Europe (EUR), and the US (USD).
|Send 100,000 INR to||Old fee||New fee||Old transfer time||New transfer time|
|GBP||₹757||₹2,289||Up to 8 business days||Up to 2 business days|
|USD||₹801||₹2,320||Up to 8 business days||Up to 2 business days|
|EUR||₹756||₹2,287||Up to 8 business days||Up to 2 business days|
(The old and new fees are based on the exchange rate on 4th Feb, 2020)
Good news! We have improved the experience of sending US dollars to bank accounts that are denominated in USD outside the US. USD is sent to bank accounts...