How to Transfer Money Internationally: A Quick Guide

Transferring money from India to an international bank account has become a streamlined and secure process. The Reserve Bank of India’s (RBI) Liberalised Remittance Scheme (LRS) permits resident individuals to remit up to ₹2.08 crore per financial year for various permissible purposes, including education, travel, medical expenses, gifts, and support to close relatives abroad.

Suppose you’re wondering how to transfer money to an international bank account. In that case, the process begins with standard documentation, including a PAN card, Form A2, and a source-of-funds declaration, and must be carried out through RBI-authorised entities only. Transfers can be executed via traditional SWIFT/wire transfers, demand drafts, cheques, or modern online remittance platforms.

Traditional bank-to-bank SWIFT transfers are reliable but often costlier and slower (2–5 business days). Demand drafts and cheques are secure alternatives, though they take longer and involve courier time. Meanwhile, fintech platforms offer competitive exchange rates, lower fees, and speedier transactions (1–2 days).

Selecting the correct method depends on your priorities, including cost, speed, ease, and the transfer amount. Knowing how to transfer money to an international bank account through licensed providers, as per RBI guidelines, is key to ensuring compliance and security. Niyo simplifies this with its secure, regulated service.

What is International Money Transfer?

An international money transfer is the movement of funds from India to a foreign country through authorised channels. Suppose you’re exploring how to transfer money internationally from India. In that case, it’s essential to understand that the process is governed by the RBI’s Liberalised Remittance Scheme and the Foreign Exchange Management Act (FEMA).

These transfers require compliance with defined limits, documentation, and the use of permitted service providers. Knowing what is needed to transfer money internationally—such as PAN, Form A2, and source-of-funds declaration—is essential for a smooth transaction. Recipients receive funds in their local currency via bank account credit, facilitated by RBI‑regulated banks or authorised remittance platforms to ensure legal conformity and consumer protection.

International Money Transfer from India: Factors to Consider

If you’re trying to understand how to transfer money internationally from India, it’s essential to evaluate a few key factors before initiating a transaction:

1. Regulatory compliance

Under LRS, ensure your transaction, documentation (PAN, Form A2), and provider are compliant with RBI norms and FEMA regulations.

2. Limits and purposes

You can remit up to ₹2.08 crore annually for approved purposes, including education, travel, gifts, and more. Transfers beyond this ceiling require special permissions or business justification.

3. Speed

When deciding how to transfer money internationally, remember that SWIFT transfers typically take 2–5 business days; demand drafts or cheques may take weeks; online platforms usually process transfers in 1–2 business days.

4. Costs

Compare transaction fees and exchange rate margins to find the best option. Banks typically charge more; fintech providers often offer better value after accounting for hidden markup.

5. Safety and reliability

For those exploring how to transfer money to an international bank from India, always use RBI-authorised providers. Verify all beneficiary details and retain receipts for future reference.

How to Transfer Money to International Bank Account: Best Ways

Understanding the international money transfer process is crucial when selecting the most suitable method to send funds abroad. Here are the most effective options to transfer money from India to an international bank account:

SWIFT / Wire Transfer via Bank

You initiate an outward remittance via your bank’s net banking or branch. The system routes through the SWIFT network, taking 2–5 business days. Fees include transfer charges, intermediary bank fees, and a margin for the exchange rate.

Online Remittance Platforms (e.g. Niyo)

Ideal for those seeking instant international money transfers from India, these digital platforms offer faster and cost-effective transfers with transparent fees and a near mid-market exchange rate. Payments can be made via net banking, UPI, or debit/credit card, with real-time tracking.

Foreign Currency Demand Draft (DD)

A bank-issued, prepaid draft sent by post to the overseas recipient. Secure, but delivery and clearing can take 3–4 weeks. PAN is required for amounts above ₹50,000.

International Cheque / Bank Draft

Similar to DDs but slower when mailed. Includes processing and currency conversion fees.

International Money Order (via India Post)

Available for select countries (e.g., France, UAE), with a cap of ₹1.25 lakh. Delivery may take 3–10 days.

Debit/Credit Card or Forex Card

Load foreign currency on a prepaid card. Convenient for travel and smaller spends, but less suitable for bulk transfers due to conversion charges.

Choose your transfer mode based on speed, convenience, fees, and the recipient’s accessibility.

Essential Documents Required for Money Transfer

To complete an international money transfer process from India, you typically need the following documents. These ensure compliance with RBI regulations and help avoid delays:

• PAN Card (mandatory for all outward remittances under LRS)
• Form A2 (a declaration of transaction purpose and remittance amount)
• Source of Funds Declaration, particularly for large transactions or those involving NRO accounts
• KYC Documents (proof of identity and address): Aadhaar, passport, voter ID, driver’s licence, etc.
• Beneficiary Bank Details: account number, IBAN, SWIFT code, recipient’s name, and address
• Chartered Accountant Certificate (Form 15CB) and Form 15CA: Required for NRO account transfers exceeding specified limits
• Additional forms, depending on the transfer method (e.g., provider-specific forms, consent forms)

Whether you’re just learning what is international money transfer is or actively initiating one, having the correct documents ready ensures a smooth and compliant process.

Ensure everything is accurate and complete before submission to avoid transaction rejections or regulatory issues.

Instant International Money Transfer from India – Do It Online

If you’re exploring how to transfer money internationally, online remittance services are the fastest and most convenient route. For those wondering how to transfer money to international bank account from India, platforms like Niyo (RBI‑authorised) offer secure, compliant transfers completed within hours.

You upload your documents, enter beneficiary details, select the amount and currency, and pay via net banking, UPI, or card. These services offer transparent fees, competitive exchange rates, and real-time tracking, making them ideal for quick, hassle-free transfers.

To Wrap it Up!

Suppose you’re wondering how to do international money transfers from India. In that case, it’s essential to follow RBI’s Liberalised Remittance Scheme (LRS), which permits resident individuals to send up to ₹2.08 crore per financial year for approved purposes. Compliance begins with submitting your PAN, completing Form A2, declaring the source of funds, and using RBI-authorised channels.

For those figuring out how to transfer money internationally, there are several methods to choose from: traditional SWIFT transfers, demand drafts, cheques, international money orders, and fintech platforms. While SWIFT and demand drafts are secure, they tend to be slower and more expensive. In contrast, platforms like Niyo—regulated under RBI—offer quicker processing, along with transparent fees and competitive exchange rates.

A smooth remittance experience depends on aligning your method with your priorities—cost efficiency, speed, and recipient convenience—while ensuring complete and accurate documentation. Always verify the provider’s RBI authorisation, double-check beneficiary details, and maintain records for reference.

With the proper preparation, you can complete your international money transfer securely, efficiently, and confidently.