Last updated: March 2026

TL;DR: To send money to Germany for your blocked account, tuition, or living expenses, use Wise (formerly TransferWise) or Instarem for the best exchange rates and lowest fees. Bank wire transfers work but cost EUR 15-30 in fees plus unfavorable exchange rates. India's LRS limit is USD 250,000/year per person. Always compare the total landed cost (fees + exchange rate markup) before choosing a provider.

What Is Outward Remittance and When Do You Need It?

Outward remittance is the transfer of money from your home country to a foreign bank account. If you are studying or moving to Germany, you will need to remit funds for:

• Blocked account deposit: EUR 11,904 (EUR 992/month) required for student visa applications. See our blocked account guide
• Semester contribution: EUR 150-400 per semester
• Tuition fees: EUR 1,500/semester in Baden-Württemberg for non-EU students, or EUR 10,000-30,000/year at private universities
• Rent deposits: Typically 2-3 months' rent (EUR 800-2,100)
• Living expenses: EUR 950-1,200/month. See our cost of living guide

Best Ways to Send Money to Germany in 2026

| Service | Transfer Fee | Exchange Rate Markup | Transfer Speed | Best For | |

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---| | Wise | 0.4-0.6% of amount | Mid-market rate (no markup) | 1-2 business days | Best overall value | | Instarem | 0.25-0.5% | Near mid-market | 1-2 business days | Large transfers from India | | Remitly | Varies (often free for first transfer) | 0.5-1% markup | 1-3 business days | Speed and convenience | | Western Union Online | Flat fee (varies) | 1-3% markup | Minutes to 3 days | Urgent small transfers | | Bank wire (SWIFT) | EUR 15-40 flat + intermediary fees | 1-3% markup | 3-5 business days | When required by recipient | | PayPal | 2-4% total cost | Built into rate | Instant (if recipient has PayPal) | Small personal transfers only |

Why Wise Is Usually the Best Option

Wise uses the real mid-market exchange rate (the one you see on Google) with a transparent percentage fee. A EUR 11,904 transfer from India via Wise costs roughly INR 500-700 in fees with the actual exchange rate. The same transfer through a traditional bank could cost INR 15,000-25,000 more due to exchange rate markups and flat fees.

How to use Wise:

1. Create an account at wise.com
2. Enter the amount in EUR you need to send
3. Add recipient bank details (IBAN and BIC/SWIFT for German accounts)
4. Pay via bank transfer, debit card, or UPI (India)
5. Track the transfer in real-time

Bank Wire Transfers

Traditional SWIFT bank transfers are slower and more expensive but sometimes necessary. Your bank may charge:

• Sending fee: INR 500-1,500 (India) or equivalent
• Intermediary bank fee: EUR 10-20 (deducted from the transferred amount)
• Receiving bank fee: EUR 0-10 (depends on German bank)
• Exchange rate markup: 1-3% above mid-market rate

For blocked account providers like Expatrio and Coracle, Wise or direct bank transfer both work. Check with your provider for accepted payment methods.

Regulations for Sending Money from India (LRS)

Indian residents sending money abroad must comply with the Reserve Bank of India's Liberalised Remittance Scheme (LRS):

| Rule | Detail | |

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---| | Annual limit | USD 250,000 per person per financial year | | Eligible purposes | Education, medical treatment, gifts, investments, travel | | PAN card required | Yes, for all remittances | | Form A2 | Must be filled and submitted to the bank | | TCS (Tax Collected at Source) | 5% above INR 7 lakh for education (with loan); 20% above INR 7 lakh otherwise (refundable when filing ITR) | | 15CA/15CB certificates | Required for amounts above INR 5 lakh in some cases |

TCS rates for 2026 (India):

• Education remittance funded by education loan: 0.5% of amount above INR 7 lakh
• Education remittance from own funds: 5% of amount above INR 7 lakh
• All other purposes: 20% of amount above INR 7 lakh

TCS is not a tax you lose; it is adjusted against your income tax liability when filing your ITR. Keep all transaction receipts.

How to Save Money on International Transfers

1. Compare total cost, not just fees. A "free transfer" with a 2% exchange rate markup costs more than a 0.5% fee with the real exchange rate on a EUR 11,904 transfer
2. Avoid airport and hotel currency exchange counters. Their rates are 5-10% worse than online services
3. Send larger amounts less frequently. One transfer of EUR 6,000 is cheaper than six transfers of EUR 1,000 due to flat fee components
4. Time your transfer if possible. Exchange rates fluctuate daily. Use rate alerts on Wise or XE.com to send when rates are favorable
5. Check if your blocked account provider offers direct payment. Some providers accept UPI or local bank transfers with built-in conversion

Setting Up a German Bank Account for Receiving Funds

Once in Germany, open a German bank account to receive transfers directly in EUR. This eliminates double conversion fees. Popular options:

• N26: Free online account, IBAN issued instantly, no German address needed initially
• Deutsche Bank: Traditional bank with student accounts, physical branches
• Sparkasse: Local savings banks available in every city

See our full German bank account guide for setup instructions.

Frequently Asked Questions

How much does it cost to send EUR 11,904 to Germany from India?

Using Wise: approximately INR 500-800 in fees with the mid-market exchange rate. Using a traditional bank wire: INR 1,500-3,000 in direct fees plus INR 10,000-20,000 in hidden exchange rate markup. Total savings with Wise: roughly INR 15,000-20,000.

How long does a transfer to Germany take?

Wise and Instarem: 1-2 business days. Bank SWIFT transfer: 3-5 business days. Western Union: minutes to 3 days depending on the service level. Weekends and bank holidays add delays.

Do I need to pay tax on money sent to Germany for education?

In India, TCS (Tax Collected at Source) applies at 5% on amounts above INR 7 lakh for education from own funds (0.5% if funded by an education loan). This TCS is refundable when you file your income tax return; it is not an additional tax.

Can I send money to my blocked account directly?

Yes. Blocked account providers like Expatrio and Coracle accept international transfers. You can use Wise, a bank wire, or other supported methods to deposit the required EUR 11,904 directly into your blocked account.

What exchange rate should I expect for INR to EUR?

Check the live mid-market rate on Google or XE.com. As of early 2026, the rate fluctuates around INR 89-93 per EUR. Wise uses this exact rate; banks typically offer 1-3% worse rates.