How to Transfer Money from the USA to India without tax?: A Complete Guide for 2022

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Are you located in the USA and seeking a way to transfer money from the USA to India without tax to your family and friends or any business on your wishlist?

Typically, anyone would approach a leading bank based in the USA directly; however, since reading this post, you do not need to follow the same strategy and instead use a completely new method to complete the transaction.

The ways we will recommend in this article have a better offer for you when it comes to exchanging rates and fees involved in it, which means that whatever you send to your loved ones is received without any significant changes. Similar way you can open a Zolve bank account and transfer money to India without any transactional fees.

Let’s compare the methods to transfer your money.

We have given a table that you can use to compare which option to use to transfer money from the USA to India. Go through the list and compare different attributes, such as fees levied and the time it takes to perform the transaction.

ServiceTransfer TimeTransaction Charges
MoneyGramWithin minutes$3
WiseWithin minutes$5
Western Union4-5 Business Days$0
TransfastWithin 24-hours$4

What is the Process to Transfer Money from the USA to India?

This section will explain the simple process of transferring your Money from the USA to India safely.

  • Compare the available options– You can use the table that we have given above to compare the fee and turnaround time it takes to transfer the Money. If any option suits your needs, you can visit their website by clicking on Go to Site.
  • Register for an account– To register an account on the website from where you want to transfer funds, you need to supply your name, address, ID proof, contact number, payment mode.
  • Receiver’s Details– Provide the details of the recipient of your Money, which includes his/her name, contact details, etc. If you want to transfer the Money directly to the account of the receiver, then you must have the recipient’s account number.
  • Feed the amount to transfer– When you are sure of everything like the duration to transfer the Money, transaction fee, exchange rate, etc., you can finally enter the amount you want to transfer and proceed with the transaction.
Transfer Money From the USA to India

Ways to send and receive Money

  • Bank deposit: Transferring your hard-earned Money through a bank is considered the safest way to Transfer Money from the USA to India, where your money will be deposited in a bank in the USA, and it can be withdrawn from any bank in India; however, there is a huge transaction fee and lower exchange rate involved with this way of transferring money.
  • Online Transfer of Money: Online money transfer options are considered easy and safe. Companies like Dunbridge Financial and OFX are involved, making your money transfers to India easier than direct bank transfers.
  • Transfer agents throughout the USA: Many agents in the USA help you transfer your Money safely to India, and your recipient in the US can easily receive it without any hassle.
  • Checks and Money Orders: If you are not in a hurry to transfer your Money, you can also consider checks and money orders to transfer your Money from the US.

What are the Documents Required to Transfer Money from the USA to India?

  • Photo ID– Most used photo IDs are driving licenses, passports, or any ID issued by the government.
  • Payment Methods– Your payment methods entirely depend on options given by your service provider where cash, debit, and a credit card are generally accepted.
  • Recipient Details– You will need to provide your recipient’s details so that he/she can receive the Money without any hassle.

Documents Required to receive Money in India

  • Transfer Number– Whenever Money is transferred to you, a reference number is always generated; you need it to confirm it.
  • Govt ID– A government ID is also required to receive Money at your location.
  • Amount Received– You need to know the exact amount sent to you.
  • Sender Details– You need to have the sender’s details to receive the Money.

What is The Cost Involved in Transferring Money from the USA to India?

  • Exchange Rates– To put it simply, the exchange rate is the amount received by your recipient after the deduction of the charges, and you need to check which service provider offers the maximum exchange rate for the money you sent.
  • Transfer Fee– A transfer fee is generally charged on the money transfer transaction you perform, which can be a flat charge or percentage of the total amount you transfer.
  • Transfer Speed– It is very important to see how much time it takes to transfer your Money. Sometimes, we need to transfer money for an important task; in that case, you need to see who can transfer it faster.
  • Transfer Limit– This parameter is also very important because some services have a limit of up to $10,000 only. In contrast, some offer the same limit of $1 million, so you need to see whether you want a smaller or huge transaction to perform even with a low fee.

What are the Best Apps to Transfer Money from the USA to India?

Here I have divided the apps on the basis of three criteria viz. Cheapest, Fastest, and Overall Winner. Here we go:


It is considered the cheapest way to transfer Money from the USA to India, as it’s free. Nothing is cheaper than free. Top of that huge market credibility makes your Money transfer cheap yet secure.


Xoom is the fastest way to transfer Money from the USA to India among 160+ countries. Owned by PayPal, it has a legacy of trust among customers, and it processes the transfers of Money to any account, anywhere within minutes, no matter what your transfer mode is.

Quite similar to Xoom, MoneyGram is known for its speed. Where other money transfer options take hours to proceed, MoneyGram does the same job within minutes. When we talk about the fee involved in transferring money, it’s $20 for card-based transfers and $5 for account transfers.

Overall Winner

When we talk about the overall winner in all the metrics, we have only Wise (formerly known as TransferWise). However, its credibility is visible from its app rating of 4.5 out of 5.

It’s an easy-to-use web application, and one can register himself with his Gmail account or Facebook account. But unfortunately, the interface is so clean that transfer looks like a cakewalk.

There is a calculator where you can immediately calculate the fees involved in the transaction. You will need a bank account to transfer or receive money, and you can send up to $1M, which most of the states support.

Although Wise offers its services at a cheap transfer fee, it is not the cheapest way to send money from the US.

When it comes to money transfers, the fee is $2.70 for up to $300, and there is a 0.9 percent transfer cost for amounts greater than that.

DIT Wrap up!

This article has listed almost everything that may help you transfer money from the USA to India. Apart from the procedure, we have compared different services based on speed and cost, especially the overall winner. We hope that this article is helpful for you. If you have any questions, then let us know.

Good Luck..!!

Jaya Mishra

Jaya Mishra is an IT Professional with nearly 13 years of experience and Currently likes to cover topics related to Finance, technology, entrepreneurship, Streaming Guides, and more. He will also help you maximize your income to savings with 10x growth. Reach for inquiries at

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