Sending €1,000 to India can cost under €1 or up to €80

Two people in Germany can send €1,000 to India on the same day. One pays less than €1. The other pays up to €80. The difference is the service they pick, and most of the cost is hidden.

What is the cheapest way to send money from Germany to India? For most transfers, it's Revolut or Wise. For your very first transfer, Remitly is often cheapest. Your German bank is usually the most expensive choice.

The figures below come from provider pages and 2026 comparison data. They change, so check the app before you pay.

How do you work out the real cost of a transfer?

The cost has two parts. The first is the fee, which you can see. The second is the exchange-rate markup, which you usually can't.

The mid-market rate is the real exchange rate, with nothing added. A provider's markup is the gap between that rate and the rate it gives you. The bigger the gap, the fewer rupees reach India.

This is why 'zero fee' is often a warning sign. A provider can charge nothing upfront and still give you a poor rate. EU rules (called PSD2) make providers show their fees clearly. Many of them still hide their real cost in the rate.

So don't compare fees. Compare the final rupee amount your family or your own account will receive.

What is the cheapest way to send money from Germany to India?

Here's what €1,000 costs with five options. The total adds the fee and the markup together.

The Western Union and bank totals are my own sums from the ranges above. Your exact cost depends on the day's rate and on how you pay for the transfer.

Revolut: cheapest, with limits

On the free Standard plan, Revolut gives you the mid-market rate for up to €1,000 in a rolling month. That means a month counted back from today, not a calendar month. The fixed fee is only about €0.60 to €0.75.

There are two catches. A 1% markup applies on weekends, which is about €10 on €1,000. A 1% fair usage fee also applies to anything above the €1,000 monthly limit.

So send on a weekday, and send €1,000 or less. If you send more every month, Revolut stops being the cheapest.

Wise: clear and easy to trust

Wise uses the mid-market rate and charges a clear fee. That fee is about €6.50 to €8.50 per €1,000, depending on how you pay for the transfer. It's not the lowest fee, but nothing is hidden in the rate.

I like Wise when I want no surprises. It's also a safe choice if you send more than €1,000 a month, because Revolut adds its 1% fee above that limit.

Remitly: great once, fine after that

Remitly often wins for your first transfer. You get a €0 fee and a boosted exchange rate as a promotional offer. After that, you pay about €1 to €3 and a hidden markup of roughly 0.5% to 1%.

Use the first transfer offer. Then compare again before you send the second one.

Western Union: low fee, costly rate

Western Union often shows €0 or a small fee of €1.90 to €3.90 for bank-to-bank transfers. It makes its money on the exchange rate. The markup is usually 1.5% to 2%.

On €1,000, your recipient gets €15 to €20 less in rupee value than with Wise or Revolut. I'd use it mainly when someone needs to collect cash.

Your German bank: the most expensive route

Banks send money through SWIFT, an older network that connects banks across countries. It adds a flat fee of €15 to €40. Then the bank adds a hidden markup of 2% to 4%.

On €1,000, that can be up to €80 lost. If your bank offers a 'free' international transfer, check the rupee amount. It's rarely free.

How fast does the money arrive?

Wise, Remitly and Revolut are usually the fastest. They collect your euros through SEPA, the euro bank transfer system used across Europe. Then they pay out rupees in India through local systems like IMPS, UPI or NEFT. The money usually arrives the same day, often in minutes.

Western Union is instant for cash pickup. Bank transfers can be near-instant or take 1 to 2 days.

German banks are slowest. A SWIFT transfer usually takes 2 to 5 business days. If you're paying an EMI (a monthly loan payment) or a deadline is close, don't use this route.

Should you send to an NRE or an NRO account?

The service you pick changes the cost. The account that receives the money changes your tax and how easily you can move money back. Both follow rules from the Reserve Bank of India (RBI) and FEMA, India's law on foreign money. You can read the official rules on the RBI website.

NRE account: the best place for your German salary

NRE stands for Non-Resident External. It holds money you earned abroad, converted to rupees. The money and the interest on it are 100% tax-free in India.

You can also send it back to Germany freely, without limits. That's why I'd use NRE for your salary and savings.

NRO account: for income earned in India

NRO stands for Non-Resident Ordinary. It's mainly for money you earn in India, like rent or dividends. You can send euros to an NRO account, but the interest is taxed in India. The TDS (tax taken at source) can be up to 30%.

Getting money out is harder too. You can move up to $1 million per financial year back to Germany. You also need Forms 15CA and 15CB, and a Chartered Accountant (CA) is involved in this paperwork.

For a full comparison, read our guide on NRE vs NRO accounts. Planning to move back to India one day? Our post on moving back to India with your savings covers that.

How should you pay for the transfer?

Always pay with a normal SEPA bank transfer (a Banküberweisung) from your German account. Don't use a credit card. A credit card adds a surcharge of 1.5% to 3%, which is €15 to €30 on €1,000. That cancels any saving from choosing a cheap service.

What can block or delay your transfer?

Your Indian bank checks who you are. This check is called KYC (know your customer). Make sure your bank has your German Steuer-ID (your tax ID) and your current German address for both your NRE and NRO accounts. Missing details can block a transfer or delay it.

This matters for students, Blue Card holders and founders alike. Many of us send money home for family, EMIs or mutual fund SIPs (monthly investments). A delayed transfer can make you miss a payment date.

Your next step

This week, type €1,000 into Revolut and Wise and compare the rupee amount in each. Then check that your Indian bank has your Steuer-ID and German address. Do that once, and every future transfer gets easier.

Cover photo: Atlantic Money on Unsplash