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💰 MoneySend Money Germany to India: Best Apps, NRE & NRO Accounts
· 2026-06-22
Compare Wise, Remitly & bank transfers for INR remittances from Germany. Learn NRE vs NRO accounts, exchange-rate timing & tax rules. Save more every transfer.
Why Sending Money from Germany to India Deserves a Smarter Strategy
Every year, the Indian diaspora in Germany sends billions of euros back home — but most people are quietly losing hundreds of euros to poor exchange rates and hidden fees without realising it. Whether you're an IT professional in Munich, a student in Berlin, or an Ausbildung trainee in Hamburg, learning how to send money from Germany to India efficiently can save you real money month after month. This guide compares the top transfer apps, demystifies NRE and NRO accounts, and explains exactly when and how to move your euros for maximum rupees.
The Real Cost of Sending Money from Germany to India
Before choosing a service, you need to understand that the headline "zero fees" almost never means zero cost. Most providers make their profit through the exchange-rate margin — the gap between the mid-market rate (what you see on Google) and the rate they actually offer you.
What fees to watch for
- Transfer fee – a flat amount or percentage charged per transaction
- Exchange-rate margin – the hidden markup on the EUR/INR rate (often 1–4%)
- Recipient bank charges – some Indian banks charge ₹250–₹500 for incoming foreign transfers
- Intermediary bank fees – common with SWIFT bank wires, up to €25 per transaction
On a €1,000 transfer, a 2% rate margin costs you €20 — roughly ₹1,800 at today's rates. Multiply that over 12 months and you've lost over ₹21,000 to a bad provider.
Wise vs Remitly vs Bank Transfer: Head-to-Head Comparison
This is the core question every Indian expat in Germany asks. Here's an honest breakdown based on real usage in 2024–2025.
Wise (formerly TransferWise)
Wise (wise.com) uses the mid-market exchange rate with a transparent fee charged on top. For EUR to INR:
- Fee: Approximately 0.43%–0.7% of the transfer amount
- Speed: Usually 1–2 business days, often same day for SEPA transfers
- Limit: Up to €1,000,000 per transfer after identity verification
- Minimum: No formal minimum, but practical for amounts above €50
- Best for: Regular, larger transfers where rate accuracy matters most
Wise is regulated by BaFin in Germany and the FCA in the UK, making it one of the safest options available. You can hold euros in a Wise multi-currency account and convert only when the rate is favourable.
Remitly
Remitly (remitly.com) offers two speed tiers for Germany-to-India transfers:
- Express delivery: Arrives within minutes — fee typically €2.99–€3.99 for smaller amounts, but the exchange rate margin is higher (often 1–1.5% below mid-market)
- Economy delivery: Takes 3–5 business days with a slightly better rate and sometimes zero fees for first-time users
- Promotions: Remitly frequently offers new-user deals with boosted INR rates for the first transfer
- Best for: Smaller, urgent transfers or first-time users taking advantage of promotions
Traditional Bank Transfer (SWIFT)
Using your German bank — whether Deutsche Bank, Commerzbank, Sparkasse, or a direct bank like ING or DKB — is the most familiar option but often the worst value:
- Fee: €5–€25 outgoing transfer fee depending on the bank
- Exchange-rate margin: Typically 2–4% above mid-market
- Speed: 2–5 business days
- Best for: Very large one-off transfers where bank-to-bank trust matters, or when sending to accounts that apps can't reach
Quick Comparison Table
| Provider | Typical Fee | Rate Margin | Speed | Best Use Case | |---|---|---|---|---| | Wise | ~0.5% | 0% (mid-market) | 1–2 days | Regular, large transfers | | Remitly Express | €2.99–€3.99 | ~1–1.5% | Minutes | Urgent small transfers | | Remitly Economy | €0–€1.99 | ~0.5–1% | 3–5 days | Budget-conscious transfers | | German Bank (SWIFT) | €5–€25 | 2–4% | 2–5 days | Occasional large transfers |
NRE vs NRO Accounts: Which Should You Use?
This is one of the most misunderstood topics for Indians living in Germany. Once you become a non-resident Indian (NRI), the type of bank account you hold in India matters enormously for taxes, repatriation rights, and legal compliance.
NRE Account (Non-Resident External)
An NRE account is denominated in Indian rupees but funded exclusively with foreign earnings — i.e., euros you earn in Germany converted to INR upon deposit.
- Repatriation: Fully repatriable — you can send the principal and interest back to Germany at any time
- Tax in India: Interest earned is completely tax-free in India
- Tax in Germany: Interest may be taxable in Germany under your worldwide income obligation — consult a Steuerberater
- Best for: Salary savings and investments you want to move freely between India and Germany
- Popular banks offering NRE accounts: State Bank of India (SBI), HDFC Bank, ICICI Bank, Axis Bank
NRO Account (Non-Resident Ordinary)
An NRO account holds income that originates inside India — rent from property, dividends, pension payments, or money earned before you moved abroad.
- Repatriation: Limited to USD 1 million per financial year after paying applicable taxes
- Tax in India: Interest is taxable at 30% (TDS deducted at source) unless a tax treaty applies
- Germany–India DTAA: The Double Taxation Avoidance Agreement between Germany and India can reduce withholding tax — file Form 15G/15H or claim treaty benefits via your Indian bank
- Best for: Managing India-sourced income like rental earnings or dividends
FCNR Account (Bonus Option)
A Foreign Currency Non-Resident (FCNR) account lets you hold deposits in EUR directly in an Indian bank, eliminating conversion risk for fixed-term deposits. Fully repatriable and tax-free in India — worth considering for amounts you plan to park for 1–5 years.
Exchange-Rate Timing: When to Send for Maximum INR
The EUR/INR rate is not static — it moves based on Reserve Bank of India (RBI) interventions, US Federal Reserve decisions, global oil prices, and India's trade data.
Practical timing strategies
- Avoid month-end spikes: Corporate forex demand in India often pushes the rupee weaker at month-end, which can actually benefit senders from Germany
- Watch RBI announcements: Rate decisions affect INR significantly — the RBI's Monetary Policy Committee meets approximately every two months
- Use Wise's rate alerts: Set a target EUR/INR rate in the Wise app and get notified when it's hit — completely free
- Transfer on weekdays: Weekend rates from banks are often locked at a less favourable level and applied to Monday processing
- Avoid Indian public holidays: Transfers landing on a bank holiday in India may sit unprocessed for 1–2 extra days
Historically, 1 EUR has bought between ₹87 and ₹95 over the past two years. A 3% swing on a €2,000 monthly transfer equals roughly ₹5,000 difference — meaningful over time.
Tax Implications: What Germany Expects You to Report
Many Indians in Germany assume that money sent home is none of Germany's tax business. This is partially true — but with important nuances.
German tax rules on remittances
- The transfer itself is not taxable — moving your already-taxed salary from Germany to India is not a taxable event in Germany
- Foreign interest income is taxable: If your NRE account earns interest, Germany expects you to declare it on your Einkommensteuererklärung (annual tax return) even though India exempts it
- Kapitalertragsteuer: Germany taxes investment returns at a flat 25% plus Solidaritätszuschlag — this applies to Indian mutual funds, stocks, or fixed deposits if you are a German tax resident
- Gift transfers: Sending more than €20,000 per year to family members may trigger Schenkungsteuer (gift tax) obligations in Germany, though the Indian recipient typically has no German tax liability
- Proof of transfer: Keep receipts and bank confirmations for at least 10 years — the Finanzamt can ask for documentation
If you're handling rental income from Indian property or managing a business there, consulting a Steuerberater who understands India–Germany cross-border taxation is strongly recommended.
Common Mistakes When Sending Money from Germany to India
Even financially savvy expats make these errors repeatedly:
- Using the bank by default without comparing rates — your Sparkasse's EUR/INR rate is almost never competitive
- Sending to a regular savings account (resident account) when you're legally an NRI — this violates FEMA (Foreign Exchange Management Act) regulations in India and can cause issues with the Indian Income Tax Department
- Ignoring FEMA compliance: NRIs must convert their Indian resident accounts to NRO accounts within a reasonable time after becoming non-resident
- Missing the DTAA benefit: Failing to submit the required forms to your Indian bank means you pay 30% TDS on NRO interest when you might owe far less under the treaty
- Sending large amounts all at once without rate-checking: Breaking a large transfer into two or three tranches across different days can help you average out exchange rate risk
- Not verifying the recipient IFSC code: A wrong IFSC code can delay or misroute a transfer — always double-check with the recipient before confirming
- Underestimating German reporting obligations: Failing to declare foreign interest income in your Steuererklärung can lead to back-taxes and penalties
For broader financial housekeeping in Germany, it also helps to understand how your credit profile here is built — see SCHUFA Credit History Germany Foreigner: How to Build a Clean Record from Scratch for a practical guide.
Step-by-Step: How to Set Up Your First Wise Transfer
- Register at wise.com with your email address
- Verify your identity using your passport and German Anmeldung confirmation
- Enter the amount in EUR and select INR as the destination currency
- Enter your recipient's Indian bank account number and IFSC code
- Choose payment method — SEPA bank transfer from your German account is cheapest
- Review the exact exchange rate, fee, and estimated arrival time before confirming
- Send the SEPA payment from your German bank to Wise's German account (usually at Deutsche Bundesbank or a partner bank)
- Track the transfer in real time via the Wise app
For Remitly, the process is nearly identical but you'll also be asked for the recipient's mobile number linked to their Indian bank for UPI-style credit confirmation.
Conclusion: Make Every Euro Work Harder
Sending money from Germany to India doesn't have to be a guessing game. By choosing Wise for regular transfers, Remitly for urgent small amounts, and reserving bank transfers for very specific situations, you can realistically save €200–€500 per year compared to using a traditional German bank. Pair that with the right account structure — NRE for your foreign earnings, NRO for India-sourced income — and you'll stay legally compliant in both countries while keeping more rupees in your family's hands.
If you're also thinking about building long-term wealth from your German income, don't stop at remittances — explore how even small monthly amounts can compound significantly over time with ETF Investing Germany Trainee Starter: How €25/Month Can Build Real Wealth.
Ready to make your next transfer smarter? Compare today's EUR/INR rates on Wise and Remitly side by side before your next send — it takes two minutes and could save you thousands of rupees.
