Compare money transfers from India to Kuwait

Best services to transfer money from India to Kuwait

Bordered by Saudi Arabia to the South, and Iraq to the North, Kuwaiti is a small-sized, but wealthy country. Kuwait cannot boast of many tourist attractions other than its luxurious shopping malls, alluring blue skies, and sunshine. However, the oil-based country is among the richest in the world per capita. Its strong economy makes it a work destination for Indians and other people across the globe.

Of the 4.6 million inhabitants of the Middle Eastern country, a report by Statistic PACI showed that only 1.4 million are Kuwaitis. So, whether to support a relative living and working in Kuwait or make a business transaction, the need to send money from India to the Middle East emirate may hit you. Our guide promises to teach you how to wire money to Kuwait from India.

How to send money from India to Kuwait

For several centuries the Kuwaitis and Indians had maintained a strong bilateral economic relationship, even before Kuwait became India's second-largest oil supplier. Kuwait used the Indian rupee as its legal tender until 1961. So, it is convenient to convert to the Kuwaiti dinar (KWD) from the Indian rupee (INR). The only thing you have to worry about is the liberalized remittance scheme of the Reserve Bank of India. This scheme allows a resident to send up to $250,000 per annum with no restriction to the number of times you remit to other countries. So you must keep track whenever you want to transfer money from India to Kuwait. The cheapest way to send money from India to Kuwait, however, remains online transfer.

Just before you initiate the transaction, be sure of the exchange rate as this changes often depending on the global economy. Look into what documents or checks you need to make an international transfer— such as an ID issued by the government, credit card, and a proof of address.

Best services to transfer money from India to Kuwait.

There are lots of available services to get your money overseas, but only a few allow conversion and transfer from the INR to KWD. TransferWise is an excellent option as they charge so little, and show you the rates before you confirm the transaction. OFX, Xendpay, and Halo Financial are other options you can use to get your funds delivered to Kuwait.

How much does it cost to send money from India to Kuwait?

Now, this depends on the service you wish to use. Some mediums require you to pay transfer charges. If you opt for OFX, you would only have to pay 0.0001% on transfer fees. Another factor that may influence the cost of sending money to Kuwait is if the service provider collects taxes. Look into the minimum transfer amount as it may affect the amount you're sending. Check these factors before you commit to use any platform.

You may find it daunting to make your transactions overseas. Hence, we review ways to make cash delivery to your recipient in the other country a smooth experience.