Best Method to Remit Money to UK/US

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a.c

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Excitel
I have to send a fairly large amount to a relative in UK.

Currently gave HDFC bank a shot using their net banking but they don't have all the remittance purpose code (not don't have even Gift as the purpose).
Another option that I have is to use ICICI Money2World (have an account with ICICI also), the UI seems to be good and you can track the transaction also (unlike HDFC which goes dark after submitting the transaction).

Is there any other way to transfer, which does not charge too much extra money? HDFC is about 1.5k-2k INR fees (all inclusive)
ICICI was about 2k-2.1k INR fees.
 
How big is the transaction?
 
If you have account in axis bank, you get the best rates there. Charges are very low.
 
The exchange rate was pretty high (not sure what to compare it with 🤔 ). It was about 97.05 INR/GBP for ICICI bank. Axis was no good their website says 98 right now. HDFC was at 96.12 INR/GBP
The extra charges are pretty much fixed. 1000 Rs for >500USD Equivalent + GST on extra charges + Some other charges (<100 INR)

Next time I will try transferwise.com seems like a good option to transfer. All charges and final amount is shown before the transaction only problem is they have a limit of 6.5 Lakh INR Equiavlent.
 
The fee structure is the same as HDFC, the rate is also the same 96.12, only 1k will be saved for the fixed bank charge. Not sure if they support "Gift" as a purpose of remittance and couldn't figure out a way to check it without making an account.
 

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