Can International Students Send Money to India

Expat life
19 May 2024
8 mins read
Written by pranit

Yes, international students can send money to India for varied purposes and through various channels.


Studying abroad can be very rewarding in terms of the quality of education and job prospects after completing it. However, student life abroad has its challenges. One of the most common issues faced by international students and their families is making secure cross-border transactions. 


From higher exchange rates and non-reliable payment options to a lack of awareness about choosing the right fund transfer service, many issues need to be addressed before carrying out international fund transfers. In this post, we will discuss the top student money transfer methods and  some useful tips for seamless international fund transfers. 

Understanding the needs of international students

Individuals studying abroad, especially those pursuing higher education, often have financial responsibilities in their country. These include financially supporting their dependents. 


Most students take up part-time jobs to manage their living expenses and send some amount to their families in India. However, as a result of higher international transfer fees and currency exchange rates, many individuals find themselves losing a substantial portion of their savings or earnings, potentially leading to financial difficulties during their time abroad.


Fortunately,  traditional and online money transfer services allow  foreign students or anyone staying abroad to send or receive money across borders. Check out the next section for the best methods to send money to India. 

Common methods to send money to India

Can international students send money to India? 


Yes. But how?


The following are some of the most reliable and secure methods by which students can send money back to family and friends in India. 

1. Online money transfer services

In today’s digital world, the most common method of sending money back to India is through online international fund transfer services. Many reliable money transfer services offer competitive exchange rates and other benefits exclusively to international students. These include student-friendly international money transfer services such as Instarem, Flywire, Wise, etc. 



  • Fast and convenient 
  • Secure
  • Affordable than wire transfers



  • It may have limitations on the transferred amount.


Also Read: Best Money Transfer Option for International Students

2. Wire transfers

Online wire transfers are another method for international students to send money to India. 



  • Highly secure
  • Widely accepted 
  • Send large amounts 



  • Higher cost
  • Slow processing 
  • Higher exchange rates
3. Bank transfers

Bank Transfers are among the traditional methods of sending money to a different country. While this method is cost-effective, it may take more time to complete the transaction. 



  • Easy access to the funds
  • Highly secure 



  • Higher charges
  • Slow processing
4. UPI transfers

Unified Payment Interfaces or UPI transactions have become increasingly popular in recent years. While they offer faster transactions, the currency exchange rate fluctuations and limitations in sending money overseas are major challenges.



  • Low cost
  • Instant transfer 
  • Easy to use



  • Limited use
  • Limited countries
  • May have additional requirements for international transfers


Also Read: Steps to track your international money transfer

How can a student transfer money to India – Key Tips

  • Make sure to compare the currency exchange rates across multiple platforms to select the lowest one. 
  • Take advantage of lower currency exchange rates by scheduling your transfers accordingly. 
  • Look out for student discounts and rewards from reliable fund transfer providers. 
  • Be mindful of any transfer limits imposed by the money transfer service provider.
  • Take into account any transfer fees associated with the money transfer service.

Support and financial resources for international students

Maintaining a lifestyle overseas isn’t as glamorous as it seems.So, is there anyone or anything international students can turn to for support during a financial crisis in a foreign country?


Thankfully, yes!


Below are some useful support and financial resources for international students:


  • Financial aid departments: The reputed universities abroad have designated financial aid departments for international students. You can reach out to the respective support team for any concerns or financial guidance. 
  • International student clubs and groups:  They may also offer necessary financial resources and support to  students. 
  • Online forums: International students can also join online forums or social networking groups to share various tips and resources regarding financial transactions. 
  • Working part-time: International students can work part-time while pursuing their education. You can look for on-campus job opportunities or through popular job portals. However, it is important to keep a check on the country’s regulations and the university’s policy regarding work eligibility.


Also Read: International money transfer rules

Why is Instarem the best option for international students to send money back to family in India?

Following are the main reasons why Instarem is the most loved fund transfer service for international students:


  • Fast** transactions: Unlike bank transfers, which take several days to complete, Instarem offers a much faster transaction time, with most transfers completed within the same day (depending on the currencies). 
  • No hidden fees: Another reason behind the popularity of Instarem is its transparent transaction processing with no hidden charges. 
  • Low currency exchange rates: As compared to exchange rates offered by most banks, Instarem offers low and affordable# currency conversion rates to ensure a fair and higher received amount. 
  • Over 60 countries: With Instarem, students can send money not just to India but to over 60 countries. 
  • Easy-to-use mobile app: For added convenience and ease of use, Instarem offers a simple and interactive mobile application that makes it simpler to keep track of your fund transfers. 
  • Rewards on each transaction: International students can earn attractive rewards in the form of InstaPoints on each cross-border transaction. These rewards can be utilised to avail impressive discounts on the upcoming transaction. 


These are reasons why Instarem has become a fund transfer companion for International students or anyone living abroad. Whether you are studying overseas or working away from your home country, consider Instarem for your upcoming cross-country money transfers. 


Q. What are the typical reasons for international students to send money back to India?

The majority of Indian students go abroad for their master’s and doctoral degrees after leaving their jobs and families behind. Since most of them have their dependents in India, students often need to send money to support their parents, spouses, and children.


Q. What is the most cost-effective method for international money transfers to India?

Using student-friendly international money transfer services such as Instarem is a reliable and cost-effective solution to send money back to India. As compared to other fund transfer methods, Instarem offers low currency conversion rates and student-specific services that make fund transfers very convenient and affordable.


Q. How do exchange rates affect the amount received by the recipient in India?

Exchange rates play a critical role in determining the amount received by the recipients in India. Typically, the higher exchange rates lower the total INR amount received in India. On the other hand, lower or favourable exchange rates result in higher INR amounts received by the Indian recipient.


Q. Are there any hidden costs associated with sending money to India internationally?

Yes. There can be hidden charges associated with some international student money transfer services in the name of transfer fees, currency conversion rates, service fees, and intermediary bank charges. Such hidden charges lead to high fund transfer charges and also lower the amount received. For these reasons, it is highly recommended to use a transparent money transfer service like Instarem.


Q. How long does it usually take for money to reach India through international transfers?

The transaction time for international transfers varies depending on multiple factors, such as the underlying transaction service, total amount, bank processing time, and a few others. 


In general, traditional bank transfers may take 2-5 business days to reflect the money in the recipient’s account. On the other hand, online fund transfer services can offer faster processing time, ranging from a few minutes to hours, for reflecting the transferred amount into the recipient’s bank account. 


Q. How much can a student transfer to India? Are there any restrictions or regulations on sending large amounts of money to India as an international student?

As per the Liberalised Remittance Scheme of RBI, there is a limit of USD 1,000,000 (~ INR 8,33,63,250 ) per year for international fund transfers by an NRI. For an Indian, this limit is USD 250,000 (INR 2.7 crores). Individuals who need to transfer a higher amount must seek permission from the RBI. 




This article is intended for informational purposes only. All details are accurate at the time of publishing. Instarem has no affiliation or relationship with products or vendors mentioned.

* Fast meaning 75% of our transactions are completed in 15 minutes. Depending on the funding method.

#When it comes to affordable exchange rates and fees, it’s worth noting that the cost will vary depending on how you choose to fund your transactions. Credit card funding and bank transfer fees can differ significantly.

About Instarem

Instarem stands at the forefront of international money transfer services, facilitating fast and secure transactions for both individuals and businesses. Our platform offers competitive exchange rates for popular currency pairs like USD to INR, SGD to INR, and AUD to INR. If you're looking to send money to India or transfer funds to any of 60+ global destinations, Instarem makes it easy for you. We are dedicated to simplifying cross-border payments, providing cutting-edge technology that support individuals and businesses alike in overcoming traditional fiscal barriers normally associated with banks. As a trusted and regulated brand under the umbrella of the Fintech Unicorn Nium Pte. Ltd., and its international subsidiaries, Instarem is your go-to for reliable global financial exchanges. Learn more about Instarem.