The cheapest service depends on where you're sending from, how much, and how fast you need it. Here's the honest breakdown.
Best mid-market rate
**Wise** and **Revolut** consistently. Wise charges a transparent fee on top of the real exchange rate. Revolut is free up to a monthly cap, then small percentage.
Best for large amounts (>$10k)
**Wise Business** or a direct **bank SWIFT** transfer if your bank waives outgoing wire fees (many premium accounts do). For very large amounts, negotiate a custom rate with your bank's FX desk.
Fastest
**Xoom (PayPal)** and **Remitly Express** — both can hit Indian bank accounts in minutes. You pay for the speed with a worse rate.
Avoid
Western Union for online transfers (poor rate). Your domestic bank's default retail wire (almost always the worst rate plus a $35–50 fee).
The underrated one
**Instarem** — consistent rates, zero fee promotions are frequent, and they pay out to UPI directly. Worth a look if you're sending to family who don't have NRE-linked accounts.