Hidden Charges You Must Know Before Sending Money to India
Sending money from the USA to India should be simple—choose a platform, enter the amount, and hit send. But what many people don’t realize is that hidden charges can eat away at your hard-earned money before it reaches your loved ones.
Banks and money transfer services often advertise "zero fees" or "best exchange rates," but behind the scenes, they find clever ways to take a cut. Let’s uncover these hidden charges and how you can avoid them!
1. Exchange Rate Markups – The Silent Thief
Many providers claim “no fees” but make up for it by tweaking the exchange rate.
For example, if the real Google exchange rate is 1 USD = 83 INR, a remittance provider might offer you 1 USD = 81.5 INR.
📉 Where did the missing ₹1.50 go? Straight into their pockets!
💡 How to Avoid It?
✔️ Always check the Google FX rate before making a transfer.
✔️ Choose services like GetPanda.Money, Wise, or Revolut that offer mid-market rates.
2. Transfer Fees – Flat vs. Percentage-Based
Some providers charge a flat fee, while others take a percentage of the amount sent.
🚨 Example:
🔹 Flat Fee: $5 per transaction (good for large amounts, bad for small ones).
🔹 Percentage-Based: 1.5% of the transfer amount ($15 for sending $1,000).
💡 How to Avoid It?
✔️ If you send small amounts, choose a provider with zero or low flat fees.
✔️ For large amounts, avoid percentage-based fees—they add up fast!
3. Bank Processing Fees – The Unexpected Cut
Your bank might charge an extra processing fee when you use a credit card, debit card, or even ACH transfers.
💡 How to Avoid It?
✔️ Use bank-to-bank transfers instead of credit cards.
✔️ Check if your bank offers free ACH transfers.
4. Receiver’s Bank Fees – The Surprise Deduction
Even after paying all the sender-side fees, your recipient’s bank in India might deduct extra charges before crediting the amount.
🚨 Example:Your family in India expects ₹83,000, but after receiver’s bank fees, they only get ₹82,200.
💡 How to Avoid It?
✔️ Use a provider that guarantees full amount delivery with no hidden deductions.
5. Urgent Transfers – The Speed Trap
Need to send money in minutes instead of days? Some platforms charge extra for faster delivery.
💡 How to Avoid It?
✔️ Plan ahead and use standard-speed transfers for lower fees.
The Smartest Way to Send Money – GetPanda.Money
With GetPanda.Money, what you see is what you get. No tricks, no hidden fees.
✅ Live Google FX Rates – No Markups
✅ Welcome Bonus for New Users
✅ No Receiver Bank Deductions
✅ Fast & Secure Web3-Powered Transfers
💡 Your money should reach home, not get lost in hidden fees!
🚀 Join GetPanda.Money today and keep more of what you send!
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