Remit2Any money transfer: Fees, limits, and exchange rates

Remit2Any is a money transfer service for Non-Resident Indians (NRIs) sending money from the US to India. The platform markets itself with promises of "zero fees" and "best rates," which naturally raises questions about whether there's a catch.¹

So, how does Remit2Any work? What do their fees and exchange rates look like in practice? And most importantly, is it a legitimate and reliable service?

Here's everything you need to know about Remit2Any money transfers, including their fees, transfer limits, and exchange rates.

We'll also introduce Wise — your international money transfer alternative. Use Wise to send stress-free transfers to over 140 countries - all at the standard mid-market exchange rate.

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What is Remit2Any?

Remit2Any is a money transfer platform for the NRI community.

To use the service, you'll need to complete KYC (Know Your Customer) verification in both the US and India. This means providing identification documents for both countries.¹

This requirement can feel cumbersome, but it adds an extra layer of security.

If you need to regularly send money to family in India or manage financial obligations there, Remit2Any can be a relatively easy and practical option.

Is Remit2Any safe?

Yes, Remit2Any is a legitimate money transfer service.

The platform uses standard security measures, including two-factor authentication (2FA) and PCI-DSS certified security protocols. They also require KYC verification before you can send money, which helps prevent fraud.¹

On Trustpilot, Remit2Any has a rating of 4.2 out of 5.²

Most reviews are 5-star ratings from customers who had smooth transfer experiences. However, there are some lower-rated reviews pointing to issues with customer service and problems with transfers being delayed or not getting to the recipient at all.

What are the fees for Remit2Any?

Remit2Any advertises zero transfer fees, which is appealing.¹

However, there's an important cost associated with your transfer: Tax Deducted at Source (TDS).³

According to Indian Income Tax regulations, a 1% TDS applies to all remittances sent from the USA to India. Remit2Any handles this TDS payment and pays it to the Indian Income Tax Department on behalf of the recipient.³

That said, the recipient can claim this TDS amount back when filing their tax returns at the end of the financial year, as long as they follow all of the applicable tax laws.

Remit2Any exchange rate: USD to INR

When money transfer providers advertise no fees, they often earn revenue through the exchange rate instead. This is called an exchange rate markup.

If you're unfamiliar with this concept, there's the mid-market exchange rate that you see on Google or financial platforms. When you convert USD to INR, providers add a markup to this rate. They essentially build in a hidden fee by giving you a slightly less favorable conversion than the mid-market rate.

Remit2Any often has pretty competitive exchange rates compared to banks and some other money transfer services, but it's not fixed. It changes based on market conditions and other factors. So, the Remit2Any exchange rate may not always be the strongest.

Before sending money, check what the Remit2Any USD to INR rate is for your transfer and compare it against the mid-market rate and rates from other providers.

This is especially important if you're sending a relatively large transfer because, in this case, even small differences in the exchange rate can add up to large amounts and cost you a lot of money.

Send fast, low cost international transfers with Wise

A smart option if you’re sending money overseas: meet Wise.

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Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

How to make a Remit2Any money transfer

Step 1. Create an account

You can set up your account using your email address or sign in directly with your Gmail account.¹

Step 2. Complete US KYC

You'll need to verify your identity in the US.

If you can't complete US KYC, you won't be able to use Remit2Any services.

Step 3. Complete India KYC

For India verification, you need a valid PAN card plus one additional document:¹

• Aadhaar
• Driver's License
• Passport
• Voter ID

You will sometimes still be able to send money without completing Indian KYC, but you won't be able to send more than 50,000 INR per financial year, which is a pretty low limit.⁴

Step 4. Start sending transfers

Once both KYC verifications are complete, you can begin sending money.

Remember to check the exchange rate for each transfer and compare it with other providers to make sure you're getting a good deal.

You can use the Remit2Any app to set up your transfers. It's available for Android devices in India through the Google Play Store, and for iOS devices in the US through the App Store.⁴

How long does a transfer take with Remit2Any?

Remit2Any processes the transfers relatively fast.

Transactions within the instant transfer limit typically process within 24 hours. For larger amounts that fall within the daily limit, processing usually takes up to 2 business days.⁴

You can also track your transfer through the Remit2Any app or website.

What is the transfer limit for Remit2Any?

The maximum money transfer amount to India depends on your Remit2Any verification level:⁴

Without KYC verification, you can send money to a friend's or family member's account instead.⁴

The recipient needs to create their own Remit2Any account and complete Indian KYC verification. Once they've added and verified their Indian bank account, you can transfer money to them using the "Send to Family/Friends" option by entering their registered phone number.⁴

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*For more information, please visit https://payout-surge.live/us/large-amounts/%3C/a%3E.%3C/small%3E%3C/p%3E