Xe Money Transfer India: Your full guide

Aman Saxena
📝 Table of contents

Xe money transfer in India

Xe is a popular service for exchange rates, and a money transfer platform to send money to local bank accounts globally.

The Xe money transfer service is easy to use and can be done online.

⚠️Indian residents currently cannot send money abroad from India with Xe

If you are an Indian resident looking to send money abroad, Wise could be a nice alternative, when sending money abroad.

Wise has a convenient Web/Android/ iOS app, and only uses the real exchange rate when converting money from Indian Rupees with one low transfer fee. With a free online sign-up you can send money using your Indian bank account or debit card.

Can I use Xe to receive money?

Yes, you can use Xe to receive money directly into your Indian bank account.

Xe requires the sender to create an account to start a transfer. You will need to provide your sender with all the following details:

  • Your full name
  • Address
  • Bank name
  • Bank account number
  • BIC/SWIFT code

When providing the information to your sender, make sure the name you give matches the name on the bank account. They need to match for the transfer to be successful.

After putting the details in, the sender will have to make a payment using either a bank transfer, direct debit, or card. They will then need to submit the transfer.

You can sit back and wait until the payment has been processed and transferred to your Indian bank account. ²

Is Xe safe to transfer money?

Xe is safe to transfer money and has been in business for over 25 years. They have over 100,000 customers and over 45,000 customer reviews on Trustpilot. Xe has processed over $115 billion in transactions, so you can trust that payments are secure.³

How does Xe transfer money?

Xe transfers money directly to bank accounts in the recipient’s local country. Which saves time and effort from having to open a separate account or wallet to access funds as a recipient., versus other providers.

Opening an Xe account

Senders will have to sign up for an account on Xe to start making transfers. They can sign up on the Xe website or through their mobile app.
To open an account, your sender will need to provide:

  • An email address
  • Personal details
  • Identity proof

The identity proof required will depend on the country of residence. And the sender may be asked for a few other documents like a bank account statement or utility bill for verification.

To start sending money to India, Xe will want to know what the starting currency and receiving currency your sender intends to use. And they also may ask how much they are thinking of sending for future transactions. You can receive up to $500,000 USD in transfers to India.

Xe uses a mix of modern tech and the traditional SWIFT transfer system to make transfers. But more importantly, let’s take a look at the Xe money transfer fees.⁴

Xe money transfer fees

Xe has a transfer fee when sending money, but the fee can be waived if you send over a certain amount. The amount for either can differ depending on where your sender is sending from:⁵

Sender country Sending fee Minimum no transfer fee amount
Australia $4 AUD 500 AUD
Canada $3 CAD 500 CAD
European Union €2 EUR 250 EUR
New Zealand $4 NZD 500 NZD
United Kingdom £2 GBP 250 GBP
United States $3 USD 500 USD

There is also an exchange rate fee with Xe.⁶ They provide a send exchange rate on money transfers that may differ from the mid-market exchange rate. The mid-market exchange rate is the one that you see on Google or that banks use. That is the real, non-marked-up rate.

The difference between the send rate and the mid-market rate is where Xe takes a hidden fee. It may look small, but it can add up.

🚀 International transfers are fast, simple, and cheap with the Wise Web/Android/ iOS app

Open your free Wise account now 🚀

How long does it take for Xe to transfer money?

Transfers to India take about 1-4 working days. Before your sender confirms the transfer, the estimated time will be shown on the screen.⁷


Sources used for this article:

  1. Xe locations
  2. Receive money in India
  3. Safety
  4. Sending money
  5. Fee
  6. Send rate
  7. Time

All sources checked as of 20 January, 2022


*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.

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