Watch out for mark-up on the exchange rate when remitting money

Go with a player that states both the exchange rate and the transaction fee transparently

Karthik Jerome
Last Updated at January 27, 2023 22:34 IST

Check the total cost of transferring money abroad and not just an individual element

In November 2022 (the latest month for which data from the Reserve Bank of India is available), individuals transmitted $1.92 billion abroad. This amounts to a scorching growth rate of 38.4 per cent compounded annually over the past decade.

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