Wise vs Remitly for Sending Money to India
Both are popular, but they work very differently. Wise charges a transparent fee and gives you the real mid-market rate. Remitly uses a marked-up exchange rate with optional speed tiers. Here's exactly how they compare on a USD → INR transfer.
Bottom Line
Mid-market rate + small transparent fee. On a $1,000 transfer, Wise typically gives ₹800–₹1,500 more than Remitly.
Express option delivers in minutes to major Indian banks. Wise economy takes 1–2 business days.
Feature-by-feature comparison
| Wise | Remitly | |
|---|---|---|
| Exchange rate | Mid-market (real rate) | Marked up ~0.5–1% |
| Transfer fee | $4–6 on $1,000 | $0 (Economy) / $3.99 (Express) |
| INR received on $1,000 | Higher by ₹800–1,500 | Slightly less due to spread |
| Transfer speed (Economy) | 1–2 business days | 3–5 business days |
| Transfer speed (Express) | Same day (some banks) | Minutes (most banks) |
| Bank coverage India | All major banks via IMPS | All major banks + ICICI instant |
| First transfer promo | Fee-free on first transfer | Fee-free on first transfer |
| Mobile app | iOS + Android | iOS + Android |
| SWIFT / large amounts | Yes, good for $5,000+ | Limited above $10,000 |
Use Wise when…
- You're not in a rush (1–2 days is fine)
- Sending $500+ regularly and every rupee matters
- You want full fee transparency before sending
- You send large amounts ($3,000+)
- You want a multi-currency account for travel
Use Remitly when…
- Family needs money today (Express is fast)
- Sending smaller amounts where spread matters less
- First transfer (both have same fee-free promo)
- Your family's bank offers Remitly instant credit
- You're already set up and speed matters most
Real example: sending $2,000
At a mid-market rate of ₹84.00/USD (Economy transfers, typical weekday)
Wise
Fee: $8.10 · Rate: ₹84.00
₹1,67,131
Best
Remitly Economy
Fee: $0 · Rate: ₹83.25 (marked up)
₹1,66,500
Remitly Express
Fee: $3.99 · Rate: ₹83.25
₹1,66,165
* Illustrative. Actual rates vary. Always verify on provider's site before sending.
The hidden fee most people miss
Remitly advertises "$0 fees" on Economy transfers, which is technically true — but they make money on the exchange rate spread. If the mid-market rate is ₹84.00, Remitly might give you ₹83.25. On a $1,000 transfer, that's ₹750 that quietly goes to Remitly.
Wise charges a visible fee (e.g., $4.50) but gives you the real mid-market rate. On the same $1,000 transfer, you pay $4.50 but get ₹84,000 instead of ₹83,250 — netting ₹375 more even after the fee.
See today's live rates side by side
Enter your amount and NRIwise compares Wise, Remitly, and 4 others in real time.
Compare live rates freeFrequently asked questions
Is Wise safe to use for sending money to India?
Yes. Wise (formerly TransferWise) is regulated in the US as a money transmitter and is licensed in all 50 states. It holds customer funds separately from company funds. Over 16 million people use it globally.
Does Remitly deliver money instantly to India?
Remitly Express typically delivers within minutes for major banks like HDFC, ICICI, SBI, and Axis. Economy transfers take 3–5 business days but have no fee. Express costs $3.99 on most transfers.
Which is better for regular monthly transfers?
For regular transfers, Wise usually wins because the rate advantage compounds over time. If you send $1,000/month, Wise can save you ₹8,000–₹15,000 per year vs Remitly.
Do both offer a first-transfer promo?
Yes. Both Wise and Remitly offer fee-free first transfers for new users. Use this to test both and compare the actual INR your family receives.