Sending money across borders used to be a complicated and expensive process, but with platforms like Revolut, it’s become faster, easier, and more affordable. Whether you’re supporting family, paying for services, or managing international finances, transferring money from Europe to India no longer needs to be a hassle.

I’ve personally found Revolut to be a reliable option for seamless international transfers. Its user-friendly app, competitive exchange rates, and low fees make it stand out in a crowded market. If you’re wondering how to make the most of this platform to send money to India, you’re in the right place.

Overview Of Revolut Money Transfer Services

Revolut offers a digital platform for seamless international money transfers. As a financial technology company, it enables users to send money globally through its app while avoiding high fees often charged by traditional banks. Transfers to India from Europe are processed efficiently, leveraging competitive exchange rates.

With Revolut, transferring money involves minimal effort. The app provides real-time exchange rate updates, ensuring transparency during the transaction. Transfers typically take up to two business days to complete, depending on the recipient’s bank processing times in India.

Revolut’s services go beyond simplicity by integrating features like multi-currency accounts. Users can convert Euros or other currencies to Indian Rupees before initiating a transfer, reducing currency risk. The app also supports daily spending limits and transaction history tracking, promoting better financial management.

For eligible users, Revolut’s free-tier account allows standard transfers at low fees. Upgrading to a premium or metal plan reduces fees further, making it economical for frequent transfers. Security measures like two-factor authentication ensure user accounts and transactions remain protected.

Setting Up Your Revolut Account

Getting started with Revolut is quick and straightforward. The process involves creating an account and verifying your identity for secure access.

Creating An Account

I downloaded the Revolut app from the App Store or Google Play. After opening it, I entered my phone number and created a secure PIN. The app then sent me a verification code via SMS, which I used to activate my account. Once logged in, I provided my basic details, including full name, address, and email.

Verifying Your Identity

To comply with security and regulatory standards, Revolut required me to verify my identity. I uploaded a clear photo of my government-issued ID, such as a passport or national ID card, through the app. The app also requested a live selfie to ensure the document matched my profile. Identity verification took only a few minutes, and I received a confirmation once completed.

Steps To Transfer Money From Europe To India Using Revolut

Transferring money from Europe to India with Revolut is straightforward and efficient. By following these steps, you can complete a transaction securely and quickly.

Adding Beneficiary Details

I start by opening the Revolut app and navigating to the “Payments” section. In the “Recipients” tab, I add the beneficiary by selecting “Add Bank Recipient.” I input the recipient’s name, bank account number, and the Indian Financial System Code (IFSC). It’s essential to double-check these details to ensure accuracy and avoid transaction delays.

Converting Currency To INR

Next, I convert the desired amount into Indian Rupees (INR). In the app, I access the “Exchange” option, select Euro (EUR) as the base currency, and INR as the target currency. The app displays the current exchange rate, which I can lock in before proceeding. I confirm the conversion, and the exchanged amount is instantly available in INR within my account.

Initiating The Transfer

To complete the transfer, I return to the “Payments” section and select the INR balance. I choose the recently added beneficiary, input the transfer amount, and review the transaction details. After confirming, the transfer is processed, with the recipient typically receiving the funds within 1-2 business days. The app also provides status updates and tracks transaction progress for added convenience.

Benefits Of Using Revolut For International Transfers

Revolut simplifies international money transfers, offering financial advantages and user-friendly features. Its platform is particularly beneficial for sending money from Europe to India.

Competitive Exchange Rates

Revolut offers real-time exchange rates close to the interbank rate. Unlike conventional banks and many other platforms, Revolut avoids hidden markups, ensuring more value reaches the recipient. For example, transferring €1,000 to India results in a higher Indian Rupee (INR) amount compared to banks charging unfavorable rates.

Low Transfer Fees

Revolut provides cost-effective transfers by minimizing fees on its standard plan and eliminating additional surcharges on premium accounts. For instance, standard users face minimal costs per transaction, while premium users often benefit from fee-free transfers under specific limits. This transparency reduces expenses for frequent or large transfers.

Speed And Convenience

Revolut processes fund transfers quickly, often completing transactions to India within 1-2 business days. The app’s interface streamlines each step, from currency conversion to tracking progress in real-time. For example, I use the app to monitor my transactions, ensuring transparency throughout the process.

Limitations To Consider

Revolut offers several advantages for transferring money from Europe to India, but there are key limitations to be aware of.

1. Currency Conversion Limits

Standard account holders face monthly caps for free currency conversions. If these limits are exceeded, additional fees apply. For example, standard users can convert up to €1,000 per month without extra charges, but beyond that threshold, a 0.5% fee is incurred.

1. Weekend Markups

Revolut charges higher exchange rate markups during weekends. This is often a 0.5% to 2% surcharge, depending on the currency pair involved. Transferring funds on weekdays avoids these additional costs.

1. Country-Specific Restrictions

Certain Indian banks may not yet support transactions from Revolut. In such cases, transfers could face delays or rejections. Checking the recipient bank’s compatibility ensures smoother processing.

1. Premium Features and Fees

Some benefits, such as higher currency conversion limits or lower transfer fees, require subscription to premium or metal plans. For users with occasional transfer needs, these plans might not be cost-effective.

1. Exchange Rate Volatility

While Revolut provides real-time exchange rates, rates can fluctuate before completing a conversion. This impacts the final amount sent if users don’t lock the rate during currency exchanges.

Monitoring these limitations helps manage expectations and ensures efficient use of Revolut for international money transfers.

Tips For A Seamless Transfer Experience

1. Double-check Beneficiary Details

I always ensure the recipient’s name, bank account number, and IFSC code are accurate before initiating a transfer. Any errors can delay the process or result in funds being sent to the wrong account.

1. Monitor Exchange Rates

Timing matters when transferring money. I watch exchange rates within the app and initiate transfers when rates are favorable to maximize the amount received in Indian Rupees.

1. Convert Currency During Weekdays

To avoid additional weekend markups, I perform currency conversions between Monday and Friday. This helps lock in better rates and reduce unnecessary fees.

1. Use Wi-Fi for Secure Access

I always confirm my internet connection is secure before using the app to prevent unauthorized access or potential security breaches during transactions.

1. Track Monthly Conversion Limits

I stay mindful of the free conversion thresholds on a standard account. If I exceed these limits, smaller transfers ensure I avoid higher fees.

1. Enable Transaction Notifications

To stay updated, I enable push notifications within the Revolut app. These alerts help me monitor status updates and verify when funds are successfully transferred.

Conclusion

Revolut has truly transformed the way we handle international money transfers, offering a blend of affordability, speed, and convenience. Its intuitive app, competitive exchange rates, and robust security features make it a reliable option for sending money from Europe to India.

By understanding its features, limitations, and practical tips, you can maximize the platform’s benefits while avoiding unnecessary fees or delays. Whether you’re supporting loved ones or managing finances, Revolut provides a seamless solution tailored to modern needs.

Frequently Asked Questions

1. What is Revolut, and how does it help with international money transfers?

Revolut is a digital platform that simplifies international money transfers by offering competitive exchange rates and low fees. It allows users to convert currencies, send money globally, and track transactions in real-time, making it an efficient alternative to traditional banks.

2. How can I send money from Europe to India using Revolut?

To send money to India, add the recipient’s bank details (including IFSC), convert the amount to Indian Rupees (INR), and initiate the transaction. The transfer usually takes 1-2 business days and provides status updates through the app.

3. What are the advantages of using Revolut for transferring money internationally?

Revolut offers near-interbank exchange rates, low transfer fees, quick processing times (1-2 business days), and a user-friendly app interface for tracking transactions. Premium plans provide additional fee savings and perks for frequent users.

4. What are the limitations of using Revolut for money transfers?

Standard accounts have monthly conversion limits, and weekend transfers incur higher rates. Some Indian banks may not support Revolut transfers, causing delays. Exchange rate volatility and premium subscription costs are other factors to consider.

5. Is Revolut safe for international money transfers?

Yes, Revolut employs robust security measures like two-factor authentication and identity verification to protect user accounts and transactions, ensuring safe and secure money transfers.

6. How do I set up a Revolut account?

Download the Revolut app, enter your phone number, create a PIN, and verify your identity by uploading a valid ID and selfie. The process is quick and usually completed within minutes.

7. Do I need to convert currencies manually before transferring money with Revolut?

Yes, Revolut allows you to manually convert currencies before transferring, locking in the exchange rate and avoiding potential currency risk during the transaction process.

8. Are there any fees for using Revolut to transfer money to India?

Revolut charges low fees for transfers, with zero fees for certain Standard tier transactions within monthly limits. Premium accounts offer reduced fees, but exceeding the free currency conversion limits incurs additional costs.

9. How can I avoid exchange rate markups with Revolut?

To avoid higher markups, perform transfers and currency conversions on weekdays when exchange rates are lower. Avoid weekend transactions, as rates are typically higher during this time.

10. What should I check before sending money with Revolut?

Double-check the recipient’s bank details, monitor exchange rates, and ensure you stay within your monthly currency conversion limits. Also, use secure Wi-Fi connections and enable transaction notifications for added security and real-time updates.