How to Transfer Money from India to UK: Are you an Indian student planning to study in the UK? Or perhaps you need to send money to a friend or family member living there? Transferring money from India to the UK can feel overwhelming with so many options, fees, and exchange rates to consider.
But don’t worry—this guide we will walk you through how to transfer money from India to UK, as we have researched the latest methods, costs, and tips to help you send money quickly, safely, and affordably.
Table of contents
- Top Ways to Transfer Money from India to the UK
- How Much Does It Cost to Transfer Money from India to UK?
- RBI Rules for Transferring Money from India to UK
- Tips to Save on Transferring Money from India to UK
- What’s New for Transferring Money from India to UK in 2025?
- Pros and Cons to Transfer Money from India to UK
- Which is the Best Method for Transferring Money from India to UK?
- FAQs on Transfer Money from India to UK
Top Ways to Transfer Money from India to the UK
Wondering how to transfer money from India to UK without losing out to high fees? You’ve got several reliable options in 2025, each with its own perks. Here are the most popular methods Indian students can use to transfer money to the UK:
- Online Money Transfer Services: Services like Wise, BookMyForex, and Western Union make transferring money from India to the UK fast and easy. These platforms offer competitive exchange rates and low fees, perfect for students on a budget.
- Wise: Known for transparency, Wise offers mid-market exchange rates (e.g., 1 GBP = 108.50 INR as of March 2025) with a small fee (around 0.4%-1% of the amount). Transfers often arrive within 24 hours.
- BookMyForex: A favorite in India, it provides zero-fee wire transfers through partner banks like Axis Bank. You can lock in rates and save up to 5% compared to traditional banks.
- Western Union: Great for quick transfers, it allows bank deposits or cash pickups in the UK. Fees vary (starting at ₹500), and delivery can take minutes to 1-2 days.
- Why it works for students: These services are online, so you can manage everything from your phone—ideal when you’re busy with studies!
- Bank Wire Transfers: Banks like SBI, ICICI, and HDFC offer international wire transfers. You’ll need the recipient’s UK bank details (account number, sort code, and SWIFT code). As of March 2025, the average exchange rate from banks is around 1 GBP = 106 INR, but they add a markup of 1-3%.
- Cost: Fees range from ₹1,000 to ₹2,500 per transfer, plus a currency conversion charge.
- Time: Takes 2-5 business days.
- Why it works for students: It’s secure and reliable, especially for large amounts like tuition fees, but it’s slower and costlier than online services.
- Forex Cards: Prepaid forex cards from providers like Thomas Cook or Axis Bank let you load INR, convert it to GBP, and use it in the UK. In 2025, these cards offer rates close to 1 GBP = 107 INR with a small issuance fee (₹200-₹500).
- Benefit: No extra fees for ATM withdrawals or payments in the UK.
- Tip: Check for inactivity fees if you don’t use the card often.
- Why it works for students: Perfect for managing daily expenses abroad without worrying about fluctuating rates.
- UPI International (Emerging Option): The National Payments Corporation of India (NPCI) is expanding UPI for cross-border payments. While it’s not fully available for the UK as of March 2025, pilot programs with countries like Singapore suggest it could soon simplify transfers. Stay tuned for updates!
How Much Does It Cost to Transfer Money from India to UK?
Figuring out the cost of sending money abroad can be confusing with so many factors at play. How much does it really cost to transfer money from India to UK in 2025? Here’s a snapshot of sending INR 50,000 to the UK:
| Method | Exchange Rate (1 GBP) | Fees | Amount Received (GBP) | Time |
|---|---|---|---|---|
| Wise | 108.50 INR | ₹350 | ~460 GBP | 1 day |
| BookMyForex | 108.20 INR | ₹0 (wire) | ~462 GBP | 1-2 days |
| SBI Bank Transfer | 106.00 INR | ₹1,500 | ~445 GBP | 3-5 days |
| Forex Card (Axis) | 107.00 INR | ₹300 | ~457 GBP (loaded) | Instant (on use) |
Note: Rates fluctuate daily. Check live rates before transferring.
How to Transfer Money from India to the UK: Step-by-Step
Not sure where to start with international transfers? Learning how to transfer money from India to UK is simpler than you think, especially with this step-by-step guide. Follow these simple steps to make the process smooth and hassle-free:
- Choose Your Method: Pick a service based on speed, cost, and convenience (e.g., Wise for low fees, banks for security).
- Sign Up: Create an account online or visit a bank branch. Have your ID (Aadhaar, PAN) ready.
- Enter Details: Provide the recipient’s UK bank details—account number, sort code, and SWIFT code (e.g., BUKBGB22 for Barclays).
- Check Rates: Compare the exchange rate and fees before confirming.
- Pay: Use net banking, debit card, or UPI to fund the transfer.
- Track It: Get a tracking number (like MTCN for Western Union) to monitor progress.
RBI Rules for Transferring Money from India to UK
The Reserve Bank of India (RBI) governs how to transfer money from India to UK under the Liberalised Remittance Scheme (LRS). Key points for 2025:
- Limit: Up to USD 250,000 (~INR 2 crore) per year, with extra for education.
- Tax: Above INR 7 lakh, a 5% TCS applies (0.5% for education loans).
- Docs: PAN, Aadhaar, and purpose proof (e.g., admission letter) are musts.
Follow these rules to avoid hiccups in your remittance process.
Tips to Save on Transferring Money from India to UK
Saving money on international transfers can make a big difference for students on a budget. Want to know how to transfer money from India to UK without losing out to hidden costs? These smart tips will help you cut fees and get better exchange rates:
- Avoid Peak Times: Exchange rates dip during market volatility (e.g., post-Budget announcements). Wait for stability if possible.
- Check RBI Limits: Under the Liberalised Remittance Scheme (LRS), you can send up to USD 250,000 (~INR 2 crore) per year as of 2025. Students get extra allowances for education.
- Beware Hidden Fees: Banks often hide costs in poor exchange rates. Compare the mid-market rate (108.50 INR/GBP in March 2025) to spot markups.
- Use Apps: Download apps like Wise or BookMyForex for real-time updates and easy transfers.
What’s New for Transferring Money from India to UK in 2025?
The world of remittances is always changing, and 2025 brings exciting updates. Curious about what’s new for transferring money from India to UK this year? Here’s the latest on international money transfer trends that could save you time and cash:
- Digital Push: RBI’s focus on fintech means more platforms are offering zero-fee transfers.
- Crypto Buzz: While not legal for remittances yet, blockchain-based solutions are being explored globally—watch this space!
- Faster Banks: Some Indian banks now promise 48-hour transfers to the UK, up from 5 days.
Pros and Cons to Transfer Money from India to UK
With so many ways to send money, how do you pick the right one? Weighing your options to transfer money from India to UK helps you match the method to your needs—speed, cost, or security. Here’s a quick look at the pros and cons of each:
- Online Platforms
Pros: Low transfer fees, fast delivery.
Cons: Limited for huge amounts. - Bank Transfers
Pros: Trusted for big remittances.
Cons: Costly and slow. - Forex Cards
Pros: Stable rates, easy spending.
Cons: Not for direct transfers.
Pick based on your priorities—speed, cost, or security.
Which is the Best Method for Transferring Money from India to UK?
How do you choose? For quick needs, Wise or Western Union excels. For savings, BookMyForex shines. Big payments? Banks or forex cards rule. Sending INR 1 lakh via Wise nets ~GBP 920 for INR 400, while banks might deliver GBP 890 for INR 2,000. Match the method to your goal!
Transferring money from India to the UK in 2025 is easier than ever, thanks to online tools and competitive rates. For Indian students, services like Wise or BookMyForex offer the best mix of speed and savings. Need to send a large amount? Stick to banks or forex cards. Whatever you choose, compare options, check live rates, and send with confidence. Ready to get started? Let us know if you need help picking the right method!
FAQs on Transfer Money from India to UK
The most common method of transferring money from India to the United Kingdom is a wire transfer. This procedure is simple and ensures the security of your transaction. The Society for Worldwide Interbank Financial Telecommunication is a member of the IndusInd Bank (SWIFT).
For Indian students wondering how to transfer money from India to UK affordably, online platforms like Wise and BookMyForex are unbeatable. With fees as low as INR 0-INR 350 and exchange rates near the mid-market (1 GBP = INR 108.50 in March 2025), you’ll save more than with banks. These remittance options keep costs down!
Under the Reserve Bank of India’s Liberalised Remittances scheme, you can send up to USD 250,000 abroad or the British pound equivalent each year. However, any amount sent in excess of INR 7 lakh will be subject to a 5% tax-collected-at-source (TCS).
No, you cannot use Google Pay to send money from India to the United Kingdom. You can send money to family and friends in India using Google Pay.
Curious about how to transfer money from India to UK quickly? Western Union delivers in minutes, Wise takes 1 day, and bank transfers need 2-5 days. Choose based on how fast you need your international money transfer to arrive!
To understand how to transfer money from India to UK legally, you’ll need your PAN card, Aadhaar, and proof of purpose—like a university letter—per RBI rules. These keep your cross-border payment smooth and compliant.
Wondering how to transfer money from India to UK using UPI? It’s not available yet—as of March 2025, UPI International is still in testing for UK remittances. This could soon be a game-changer for fast transfers!
Want to know how to transfer money from India to UK within RBI limits? You can send up to USD 250,000 (~INR 2 crore) yearly under the LRS, with extra room for education costs—ideal for students!
Concerned about taxes when figuring out how to transfer money from India to UK? Above INR 7 lakh annually, a 5% TCS applies (0.5% for education loans)—an RBI rule to keep in mind for remittances.
Worried about safety when discovering how to transfer money from India to UK online? Platforms like Wise and Western Union are secure and regulated—just verify details for a safe remittance.
Exploring how to transfer money from India to UK with a forex card? It’s not for direct transfers, but cards from Axis Bank or Thomas Cook let you load INR, convert to GBP, and spend easily in the UK.
Need to know how to transfer money from India to UK and track it? Use a tracking ID (like Western Union’s MTCN) or Wise’s app notifications to monitor your international transfer effortlessly.
This was all about how to Transfer money from India to the UK. If you wish to know more about international transfer and education loans, check out Fly Finance. If you wish to study abroad in the UK, USA, or anywhere in the world, connect with our experts at 1800 57 2000 and book your 30-minute free counselling session.
