Most family remittances are small enough that the markup matters more than the speed. A 2% difference on ₹3 lakh is ₹6,000 — which is roughly what a decent dinner in Dubai costs.
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The three common routes
- 1Bank SWIFT — secure, trackable, 1–2 day turnaround, 1–2% effective markup.
- 2Online remittance apps — fast, app-based, 0.5–1.5% markup, good for frequent senders.
- 3Money transfer operators (Western Union, MoneyGram) — instant but 3–5% markup.
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How to pick
For anything above ₹1 lakh, SWIFT via an AD-I bank is almost always the best deal. Below ₹50,000 or same-day urgent, an online app often wins on convenience. Avoid MTOs unless the receiver has no bank access.
Yes — every outbound remittance needs a purpose code. For family maintenance, use S1301. Dealers will fill this on your Form A2.
Under LRS, you can remit up to USD 250,000 per financial year. No per-transaction cap, but transactions above USD 10,000 often trigger enhanced due diligence.
