Personal Finance Money transfer

Review of Vance Money Transfer to India: Guide to Features and Fees

Aditya Shrivastava

24.12.24

Read time 2 minutes

Vance is a financial technology company that provides a range of services for Non-Resident Indians (NRIs), including international money transfers to India. This review will cover Vance's features, fees, supported countries, and limitations.

We'll also introduce you to Wise as a convenient alternative for transfers to India, that also offers a multi-currency account with a travel card for NRIs living in supported countries.

Table of contents
Vance Money Transfer: Features and Services Vance Money Transfer: Fees and Exchange Rates Is Vance Safe? Meet Wise: an alternative supporting wider range of countries

Vance Money Transfer: Features and Services

Vance offers international money transfers to India, at competitive exchange rates — often matching those found on Google. They currently support transfers from these countries:

UK (GBP)
United Arab Emirates (AED)
United States (USD)
Canada (CAD)
Europe (EUR): Italy, France, Germany, Netherlands, Sweden, Ireland, Spain, Portugal

As per their website, Vance is planning to launch Singapore (SGD) soon.

Important Note: Vance does not currently support money transfers from India.

If you're looking to transfer money to India from countries not supported by Vance, or to transfer money internationally from India, you'll need to consider an alternative such as Wise, a globally recognized provider with 24/7 customer support and a strong reputation for reliable transfers.

Vance Financial Services for NRIs

Vance is working on launching a variety of features such as NRI banking and investments in Indian mutual funds from abroad. These are not currently available, but interested NRIs can sign up for the waitlist on Vance website.

Vance Money Transfer: Fees and Exchange Rates

Vance offers competitive exchange rates, often matching those displayed on Google, and charges a flat fee for international money transfers, which varies depending on the sending country.

Transfer to India from	Vance Transaction Fees
UK	3 GBP (1st transfer Free)
UAE	Zero
USA	0.3% (1st transfer Free)
Canada	3 CAD (1st transfer Free)
Europe	3 EUR (1st transfer Free)

Is Vance Safe?

While Vance itself is not licensed by the FCA or other major financial institutions, it works with regulated providers to enable cross-border transactions. Their website lists registered entities in the UK, Canada, and India. Vance employs robust security protocols to safeguard your personal and financial data.

For support, customers can reach Vance by emailing them at help@vance.tech or via in-app chat.

Vance Reviews

Based on online reviews found on third-party websites like Trustpilot, it appears that responses from Vance customer support can sometimes be delayed, which has caused some customers concern, especially when it comes to failed transfers.

Meet Wise: A Convenient Alternative for International Transfers

Wise is a global strong alternative, especially for those seeking international transfers from a wider range of countries.

Low, Transparent Fees: Wise offers currency conversion at mid-market exchange rate as well and always provides a clear breakdown of fees. Honestly, Wise may not always be the cheapest option for transfers to India as compared to Vance. However, we don’t have comparison data for customer support response time or speed of transfer at the moment.
Global Reach: Wise supports money transfers to and from a wider range of countries than Vance, and is a strong alternative to send money to India from countries not supported by Vance.
24/7 Customer Support: Wise has a global reputation for reliable and secure money transfers and offers 24/7 customer support via phone, email, and chat, which can be invaluable in case of transfer issues.

Send Money to India with Wise

Wise Account for NRIs

In addition to money transfers, Wise offers a multi-currency account for NRIs living in supported countries, allowing them to hold balances in currencies, including INR. With a linked debit card, you can spend like a local when traveling abroad — including to India.

Get Started with Wise Account

Conclusion

Vance offers competitive exchange rates for money transfers to India from a selection of supported countries. However, for sending international transfers to and from a wider range of countries, including India, Wise is a strong alternative. Consider your individual needs and priorities when choosing between Vance and Wise for your international money transfers.

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.