Remitting from Germany to India

The following table shows how much it costs to remit money from Germany To India. Click on column headings to sort the data.

Note: Corridor averages are unweighted and do not reflect the market shares of the different firms that compose the average. For comparability purposes, the two initial USD reference amounts of $200 and $500 were kept. In the third quarter of 2009, the amounts in local currency were adjusted in order to reflect foreign exchange fluctuations.

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Collection period for Third quarter 2009 | First quarter 2009 | 2008

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140350

				Total cost
Firm name	Firm type	Fee (EUR)	Exchange rate margin (%)	Percent (%)	EUR	Transfer speed	Network Coverage	Date
ICICI Bank - Readycash	Bank	2.00	1.40	2.82	3.95	2 days	Nationwide	Sep 21, 2009
Remit2India	MTO	2.00	1.41	2.84	3.98	2 days	Nationwide	Sep 21, 2009
Postbank*	Bank	8.00	*0.00	*5.71	*7.99	3-5 days	Nationwide	Sep 21, 2009
Ria Envia	MTO	7.00	4.00	9.00	12.60	Same day	Nationwide	Sep 21, 2009
State Bank of India	Bank	15.00	1.61	12.32	17.25	3-5 days	Nationwide	Sep 21, 2009
Western Union	MTO	14.50	3.29	13.64	19.10	Less than one hour	Nationwide	Sep 21, 2009
MoneyGram	MTO	13.00	4.92	14.21	19.89	Less than one hour	Nationwide	Sep 21, 2009
HypoVereinsbank	Bank	25.00	-0.06	17.80	24.92	6 days or more	Nationwide	Sep 21, 2009
Sparkasse KolnBonn*	Bank	25.00	*0.00	*17.86	*25.00	6 days or more	Nationwide	Sep 21, 2009
Western Union	MTO	26.00	3.29	21.86	30.60	Less than one hour	Nationwide	Sep 21, 2009
Bank Average		15.00	0.59	11.30	15.82
MTO Average		12.50	3.38	12.31	17.23
Total Average		13.75	1.99	11.81	16.53
Total Average in First Quarter 2009		13.00	2.91	12.54	17.56

	Total cost
Firm name	Firm type	Fee (EUR)	Exchange rate margin (%)	Percent (%)	EUR	Transfer speed	Network Coverage	Date
ICICI Bank - Readycash	Bank	2.00	1.40	1.97	6.90	2 days	Nationwide	Sep 21, 2009
Remit2India	MTO	2.00	1.41	1.98	6.93	2 days	Nationwide	Sep 21, 2009
Postbank*	Bank	8.00	*0.00	*2.29	*8.02	3-5 days	Nationwide	Sep 21, 2009
State Bank of India	Bank	15.00	1.61	5.89	20.62	3-5 days	Nationwide	Sep 21, 2009
Ria Envia	MTO	7.00	4.00	6.00	21.00	Same day	Nationwide	Sep 21, 2009
HypoVereinsbank	Bank	25.00	-0.06	7.09	24.82	6 days or more	Nationwide	Sep 21, 2009
Sparkasse KolnBonn*	Bank	25.00	*0.00	*7.14	*24.99	6 days or more	Nationwide	Sep 21, 2009
Western Union	MTO	25.50	3.29	10.57	36.99	Less than one hour	Nationwide	Sep 21, 2009
Western Union	MTO	26.00	3.29	10.72	37.52	Less than one hour	Nationwide	Sep 21, 2009
MoneyGram	MTO	23.50	4.92	11.63	40.71	Less than one hour	Nationwide	Sep 21, 2009
Bank Average		15.00	0.59	4.87	17.05
MTO Average		16.80	3.38	8.18	28.63
Total Average		15.90	1.99	6.53	22.86
Total Average in First Quarter 2009		15.00	2.91	7.46	26.11

Corridor note

* indicates that the RSP is not transparent and did not provide all the relevant information. Roll-over firm name for more info.

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
ICICI Bank - Readycash	Bank	2.86	1.40	2.82	5.64	2 days	Nationwide	Sep 21, 2009
Remit2India	MTO	2.86	1.41	2.84	5.68	2 days	Nationwide	Sep 21, 2009
Postbank*	Bank	11.43	*0.00	*5.71	*11.42	3-5 days	Nationwide	Sep 21, 2009
Ria Envia	MTO	10.00	4.00	9.00	18.00	Same day	Nationwide	Sep 21, 2009
State Bank of India	Bank	21.43	1.61	12.32	24.64	3-5 days	Nationwide	Sep 21, 2009
Western Union	MTO	20.71	3.29	13.64	27.28	Less than one hour	Nationwide	Sep 21, 2009
MoneyGram	MTO	18.57	4.92	14.21	28.42	Less than one hour	Nationwide	Sep 21, 2009
HypoVereinsbank	Bank	35.71	-0.06	17.80	35.60	6 days or more	Nationwide	Sep 21, 2009
Sparkasse KolnBonn*	Bank	35.71	*0.00	*17.86	*35.72	6 days or more	Nationwide	Sep 21, 2009
Western Union	MTO	37.14	3.29	21.86	43.72	Less than one hour	Nationwide	Sep 21, 2009
Bank Average		21.43	0.59	11.30	22.60
MTO Average		17.86	3.38	12.31	24.62
Total Average		19.64	1.99	11.81	23.62
Total Average in First Quarter 2009		19.26	2.91	12.54	25.08

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
ICICI Bank - Readycash	Bank	2.86	1.40	1.97	9.85	2 days	Nationwide	Sep 21, 2009
Remit2India	MTO	2.86	1.41	1.98	9.90	2 days	Nationwide	Sep 21, 2009
Postbank*	Bank	11.43	*0.00	*2.29	*11.45	3-5 days	Nationwide	Sep 21, 2009
State Bank of India	Bank	21.43	1.61	5.89	29.45	3-5 days	Nationwide	Sep 21, 2009
Ria Envia	MTO	10.00	4.00	6.00	30.00	Same day	Nationwide	Sep 21, 2009
HypoVereinsbank	Bank	35.71	-0.06	7.09	35.45	6 days or more	Nationwide	Sep 21, 2009
Sparkasse KolnBonn*	Bank	35.71	*0.00	*7.14	*35.70	6 days or more	Nationwide	Sep 21, 2009
Western Union	MTO	36.43	3.29	10.57	52.85	Less than one hour	Nationwide	Sep 21, 2009
Western Union	MTO	37.14	3.29	10.72	53.60	Less than one hour	Nationwide	Sep 21, 2009
MoneyGram	MTO	33.57	4.92	11.63	58.15	Less than one hour	Nationwide	Sep 21, 2009
Bank Average		21.43	0.59	4.87	24.35
MTO Average		24.00	3.38	8.18	40.90
Total Average		22.71	1.99	6.53	32.65
Total Average in First Quarter 2009		22.73	2.91	7.46	37.30

Corridor note

* indicates that the RSP is not transparent and did not provide all the relevant information. Roll-over firm name for more info.

135330

				Total cost
Firm name	Firm type	Fee (EUR)	Exchange rate margin (%)	Percent (%)	EUR	Transfer speed	Network Coverage	Date
ICICI Bank - Readycash	Bank	2.00	1.65	3.13	4.23	2 days	Nationwide	Feb 10, 2009
Postbank	Bank	8.50	0.00	6.30	8.51	3-5 days	Nationwide	Feb 10, 2009
Remit2India	MTO	2.00	5.68	7.16	9.67	2 days	Nationwide	Feb 10, 2009
Ria Envia	MTO	8.50	3.49	9.78	13.20	2 days	Nationwide	Feb 10, 2009
Sparkasse KolnBonn	Bank	15.00	1.90	13.01	17.56	6 days or more	Nationwide	Feb 10, 2009
State Bank of India	Bank	15.00	3.54	14.65	19.78	Less than one hour	Nationwide	Feb 10, 2009
Western Union	MTO	14.50	4.10	14.84	20.03	Less than one hour	Nationwide	Feb 10, 2009
MoneyGram	MTO	14.00	4.87	15.24	20.57	Less than one hour	Nationwide	Feb 10, 2009
HypoVereinsbank	Bank	37.50	0.97	28.75	38.81	6 days or more	Nationwide	Feb 10, 2009
Bank Average		15.60	1.61	13.17	17.78
MTO Average		9.75	4.54	11.76	15.88
Total Average		13.00	2.91	12.54	16.93
Total Average in 2008		11.94	1.86	10.70	14.44

	Total cost
Firm name	Firm type	Fee (EUR)	Exchange rate margin (%)	Percent (%)	EUR	Transfer speed	Network Coverage	Date
ICICI Bank - Readycash	Bank	2.00	1.65	2.25	7.42	2 days	Nationwide	Feb 10, 2009
Postbank	Bank	8.50	0.00	2.58	8.51	3-5 days	Nationwide	Feb 10, 2009
Ria Envia	MTO	8.50	3.49	6.06	20.00	2 days	Nationwide	Feb 10, 2009
Remit2India	MTO	2.00	5.68	6.28	20.72	2 days	Nationwide	Feb 10, 2009
Sparkasse KolnBonn	Bank	15.00	1.90	6.44	21.25	6 days or more	Nationwide	Feb 10, 2009
State Bank of India	Bank	15.00	3.54	8.08	26.66	Less than one hour	Nationwide	Feb 10, 2009
MoneyGram	MTO	21.00	4.87	11.24	37.09	Less than one hour	Nationwide	Feb 10, 2009
Western Union	MTO	25.50	4.10	11.83	39.04	Less than one hour	Nationwide	Feb 10, 2009
HypoVereinsbank	Bank	37.50	0.97	12.33	40.69	6 days or more	Nationwide	Feb 10, 2009
Bank Average		15.60	1.61	6.34	20.92
MTO Average		14.25	4.54	8.85	29.20
Total Average		15.00	2.91	7.46	24.62
Total Average in 2008		14.38	1.86	6.22	20.53

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
ICICI Bank - Readycash	Bank	2.96	1.65	3.13	6.26	2 days	Nationwide	Feb 10, 2009
Postbank	Bank	12.59	0.00	6.30	12.60	3-5 days	Nationwide	Feb 10, 2009
Remit2India	MTO	2.96	5.68	7.16	14.32	2 days	Nationwide	Feb 10, 2009
Ria Envia	MTO	12.59	3.49	9.78	19.56	2 days	Nationwide	Feb 10, 2009
Sparkasse KolnBonn	Bank	22.22	1.90	13.01	26.02	6 days or more	Nationwide	Feb 10, 2009
State Bank of India	Bank	22.22	3.54	14.65	29.30	Less than one hour	Nationwide	Feb 10, 2009
Western Union	MTO	21.48	4.10	14.84	29.68	Less than one hour	Nationwide	Feb 10, 2009
MoneyGram	MTO	20.74	4.87	15.24	30.48	Less than one hour	Nationwide	Feb 10, 2009
HypoVereinsbank	Bank	55.56	0.97	28.75	57.50	6 days or more	Nationwide	Feb 10, 2009
Bank Average		23.11	1.61	13.17	26.34
MTO Average		14.44	4.54	11.76	23.52
Total Average		19.26	2.91	12.54	25.08
Total Average in 2008		17.69	1.86	10.70	21.40

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
ICICI Bank - Readycash	Bank	3.03	1.65	2.25	11.25	2 days	Nationwide	Feb 10, 2009
Postbank	Bank	12.88	0.00	2.58	12.90	3-5 days	Nationwide	Feb 10, 2009
Ria Envia	MTO	12.88	3.49	6.06	30.30	2 days	Nationwide	Feb 10, 2009
Remit2India	MTO	3.03	5.68	6.28	31.40	2 days	Nationwide	Feb 10, 2009
Sparkasse KolnBonn	Bank	22.73	1.90	6.44	32.20	6 days or more	Nationwide	Feb 10, 2009
State Bank of India	Bank	22.73	3.54	8.08	40.40	Less than one hour	Nationwide	Feb 10, 2009
MoneyGram	MTO	31.82	4.87	11.24	56.20	Less than one hour	Nationwide	Feb 10, 2009
Western Union	MTO	38.64	4.10	11.83	59.15	Less than one hour	Nationwide	Feb 10, 2009
HypoVereinsbank	Bank	56.82	0.97	12.33	61.65	6 days or more	Nationwide	Feb 10, 2009
Bank Average		23.64	1.61	6.34	31.70
MTO Average		21.59	4.54	8.85	44.25
Total Average		22.73	2.91	7.46	37.30
Total Average in 2008		21.78	1.86	6.22	31.10

135330

				Total cost
Firm name	Firm type	Fee (EUR)	Exchange rate margin (%)	Percent (%)	EUR	Transfer speed	Network Coverage	Date
Remit2India	MTO	2.00	0.48	1.96	2.65	1 day	-	May 21, 2008
ICICI Bank - Readycash	Bank	5.00	0.46	4.17	5.63	2 days	-	May 21, 2008
Sparkasse KolnBonn	Bank	5.00	1.02	4.73	6.39	7-10 days	-	May 21, 2008
Ria Envia	MTO	7.50	3.71	9.27	12.51	Up to 2 days	-	May 21, 2008
Western Union	MTO	14.50	2.54	13.28	17.93	Instant	-	May 21, 2008
State Bank of India	Bank	15.00	2.22	13.34	18.01	2-3 days	-	May 21, 2008
MoneyGram	MTO	14.00	4.04	14.42	19.47	Instant	-	May 21, 2008
HypoVereinsbank	Bank	32.50	0.39	24.46	33.02	7-10 days	-	May 21, 2008
Bank Average		14.38	1.03	11.67	15.75
MTO Average		9.50	2.69	9.73	13.14
Total Average		11.94	1.86	10.70	14.44
First Quarter 2009		13.00	2.91	12.54	16.93

	Total cost
Firm name	Firm type	Fee (EUR)	Exchange rate margin (%)	Percent (%)	EUR	Transfer speed	Network Coverage	Date
Remit2India	MTO	2.00	0.48	1.09	3.60	1 day	-	May 21, 2008
ICICI Bank - Readycash	Bank	5.00	0.46	1.98	6.53	2 days	-	May 21, 2008
Sparkasse KolnBonn	Bank	5.00	1.02	2.54	8.38	7-10 days	-	May 21, 2008
Ria Envia	MTO	9.00	3.71	6.44	21.25	Up to 2 days	-	May 21, 2008
State Bank of India	Bank	15.00	2.22	6.77	22.34	2-3 days	-	May 21, 2008
HypoVereinsbank	Bank	32.50	0.39	10.24	33.79	7-10 days	-	May 21, 2008
Western Union	MTO	25.50	2.54	10.27	33.89	Instant	-	May 21, 2008
MoneyGram	MTO	21.00	4.04	10.41	34.35	Instant	-	May 21, 2008
Bank Average		14.38	1.03	5.38	17.75
MTO Average		14.38	2.69	7.05	23.26
Total Average		14.38	1.86	6.22	20.53
First Quarter 2009		15.00	2.91	7.46	24.62

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Remit2India	MTO	2.96	0.48	1.96	3.92	1 day	-	May 21, 2008
ICICI Bank - Readycash	Bank	7.41	0.46	4.17	8.34	2 days	-	May 21, 2008
Sparkasse KolnBonn	Bank	7.41	1.02	4.73	9.46	7-10 days	-	May 21, 2008
Ria Envia	MTO	11.11	3.71	9.27	18.54	Up to 2 days	-	May 21, 2008
Western Union	MTO	21.48	2.54	13.28	26.56	Instant	-	May 21, 2008
State Bank of India	Bank	22.22	2.22	13.34	26.68	2-3 days	-	May 21, 2008
MoneyGram	MTO	20.74	4.04	14.42	28.84	Instant	-	May 21, 2008
HypoVereinsbank	Bank	48.15	0.39	24.46	48.92	7-10 days	-	May 21, 2008
Bank Average		21.30	1.03	11.67	23.34
MTO Average		14.07	2.69	9.73	19.46
Total Average		17.69	1.86	10.70	21.40
First Quarter 2009		19.26	2.91	12.54	25.08

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Remit2India	MTO	3.03	0.48	1.09	5.45	1 day	-	May 21, 2008
ICICI Bank - Readycash	Bank	7.58	0.46	1.98	9.90	2 days	-	May 21, 2008
Sparkasse KolnBonn	Bank	7.58	1.02	2.54	12.70	7-10 days	-	May 21, 2008
Ria Envia	MTO	13.64	3.71	6.44	32.20	Up to 2 days	-	May 21, 2008
State Bank of India	Bank	22.73	2.22	6.77	33.85	2-3 days	-	May 21, 2008
HypoVereinsbank	Bank	49.24	0.39	10.24	51.20	7-10 days	-	May 21, 2008
Western Union	MTO	38.64	2.54	10.27	51.35	Instant	-	May 21, 2008
MoneyGram	MTO	31.82	4.04	10.41	52.05	Instant	-	May 21, 2008
Bank Average		21.78	1.03	5.38	26.90
MTO Average		21.78	2.69	7.05	35.25
Total Average		21.78	1.86	6.22	31.10
First Quarter 2009		22.73	2.91	7.46	37.30

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