International Wire Transfer Cost Calculator

Calculate the true cost of sending money abroad from India. Includes SWIFT charges, bank spread, correspondent bank fees, and TCS under LRS.

International Wire Transfer Cost Calculator

SWIFT charges, bank spread, correspondent fees, and LRS TCS

Amount to send USD 10,000

100250K

USD

Currency

Bank spread over mid-rate 1.5%

0.25%5%

SWIFT / transaction fee Rs 1,000

Rs 0Rs 5K

Correspondent bank fee 25 USD

050 USD

USD

Apply LRS TCS (20% above Rs 7L threshold)

Total charges

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spread + fees

Beneficiary receives

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in INR equivalent

Effective cost

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% of transfer

Transfer amount (INR equivalent)---

Bank spread cost---

SWIFT fee---

Correspondent bank fee---

LRS TCS (if applicable)---

Total charges---

Amount received vs charges

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Rates and regulations are indicative. Verify current rules with your bank, SEBI, or tax advisor before transacting.

Total charges at different transfer amounts

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ThriftRupee Insight

Sending USD 10,000 abroad via your bank might cost Rs 8,000–15,000 in hidden charges — not just the quoted flat fee. The spread on the conversion rate alone can cost Rs 5,000–8,000. Wise (formerly TransferWise) and similar fintech platforms typically charge 0.5–1% with mid-market rates, saving Rs 4,000–7,000 on the same transfer. For amounts above Rs 7 lakh/year, factor in 20% TCS which is refundable but locks up cash.

Frequently asked questions

What are the charges for international wire transfer from India?▼

Typical charges: (1) Bank spread on forex conversion: 1–2.5% above mid-market rate. (2) SWIFT/transaction fee: Rs 500–2,000 fixed. (3) Correspondent bank charges: USD 10–30 deducted from the received amount. (4) Beneficiary bank charges: varies. Total effective cost: 1.5–4% of transfer amount. Fintech alternatives like Wise charge 0.5–1% with mid-market rate.

What is LRS (Liberalised Remittance Scheme)?▼

LRS allows resident Indians to remit up to USD 250,000 per financial year abroad for permitted purposes — education, travel, investment, gifts, maintenance of relatives. TCS (Tax Collected at Source) at 20% applies on amounts above Rs 7 lakh per year (5% for education/medical). TCS is adjustable against income tax liability — it is not an additional tax but affects cash flow.

How can I reduce wire transfer costs from India?▼

Tips: (1) Use fintech platforms (Wise, Remitly, Western Union) for better rates vs banks. (2) Compare rates across at least 3 providers before transferring. (3) Avoid airport and hotel money changers. (4) Transfer larger amounts less frequently to minimize fixed SWIFT fees. (5) Ask your bank for the "TT rate" (Telegraphic Transfer) which is better than the cash counter rate.

International Wire Transfer Cost Calculator