TL;DR:
The best way to send money from Greece to India is through regulated apps like Remitly, Panda Remit, Wise, or ACE Money Transfer, which offer lower fees, better exchange rates, and faster delivery than banks. Comparing fees, checking exchange rates, and following basic safety steps helps caregivers and expats avoid losses and transfer money securely.
Why Choosing the Right Money Transfer Matters
Finding a safe way to send money from Greece to India doesn’t have to be complicated or expensive. Whether you’re a caregiver working in Greece supporting your family back home or sending funds for personal reasons, understanding the best money transfer options can save you hundreds of euros annually while ensuring your hard-earned money reaches your loved ones securely.
In this comprehensive guide, we’ll walk you through everything you need to know about transferring money from Greece to India—from comparing fees and exchange rates to protecting yourself against scams and understanding RBI compliance requirements.
Understanding the Best Way to Send Money From Greece to India
The international money transfer landscape has transformed dramatically over the past few years. Traditional banks are no longer your only option, and in most cases, they’re not even the best one.
According to Monito’s comparison data, if you send money with the cheapest available provider, the total cost of a EUR-INR transfer averages around -1.0% of the transfer amount over the past month—meaning you actually get a favourable rate. In contrast, the most expensive option can cost you 7.1% in fees and poor exchange rates combined.
This dramatic difference in costs highlights why comparing your options is crucial before every transfer. The “best” method depends on your specific needs: speed, cost, transfer amount, and how your recipient in India wants to receive the money.
Why Traditional Banks Aren’t Always the Answer
While banks offer familiarity and trust, they typically charge higher fees and provide less competitive exchange rates compared to specialised money transfer services. Banks often apply a markup to the exchange rate—a hidden fee that can significantly reduce the amount your family receives.
For example, if the mid-market exchange rate is 1 EUR = 104.679 INR, your bank might add a 3% markup and give you a rate of 1 EUR = 107.81937 INR. This hidden charge, combined with transfer fees, makes bank transfers considerably more expensive than modern alternatives.
Secure Money Transfer From Greece to India: Top Services Compared
Several reputable providers specialise in international money transfers from Greece to India, each offering different advantages depending on your priorities.
Remitly: Best for Cash Pick-Up Transfers
Remitly consistently ranks as the cheapest provider for cash pick-up transfers in India, with an average cost of just 0.7% of the amount you send (including fees and exchange rate margin). This makes it an excellent choice if your recipient needs immediate access to cash.
Remitly offers:
- Multiple payment options including Visa, Mastercard, Maestro cards, and Apple Pay in the EU
- Bank deposit, cash pick-up, and mobile wallet delivery options
- Express and Economy transfer speeds
- Transparent fees with no hidden charges
- Real-time transfer tracking
- Money-back guarantee if transfers don’t arrive on time
Remitly’s platform supports transfers to all major Indian banks including ICICI Bank, HDFC Bank, and Indian Overseas Bank. You’ll need your recipient’s bank account number and IFSC code (Indian Financial System Code)—a unique 11-digit alphanumeric code that identifies each bank branch in India.
Wise: Best for Transparency and Fair Exchange Rates
Whilst Wise doesn’t currently support direct EUR to INR transfers from Greece, they do support sending US Dollars (USD) to India using international wire transfer. Wise uses the mid-market exchange rate—the same rate you see on Google—with a small, transparent fee.
What makes Wise stand out:
- Uses the real mid-market exchange rate with no markup
- Clear, upfront fees with no hidden charges
- Fast transfers (often instant to 2 days)
- Multi-currency account option for managing multiple currencies
Panda Remit: Best First-Time Transfer Offer
Panda Remit offers zero fees for your first remittance from Greece to India. For subsequent transactions, fees range from €1.99 to €5.99 depending on the transfer amount and delivery method.
Key features include:
- Support for all major Indian banks
- Direct bank account deposits
- Fast processing times (funds often arrive within minutes)
- User-friendly mobile app
- Competitive exchange rates
- Excellent customer service support
ACE Money Transfer: Comprehensive Service Package
ACE Money Transfer provides a fast, secure, and cost-effective solution for Indian expatriates working in Greece. They offer:
- Competitive exchange rates designed to maximise the amount received in India
- Low transfer fees
- Quick processing (funds reach recipients within minutes in many cases)
- 24/7 customer support available for queries
- Easy-to-use online platform
Money Transfer Fees From Greece to India: What You’ll Actually Pay
Understanding the true cost of your transfer requires looking beyond the upfront fee. The total cost includes three components:
- Transfer Fee: This is the visible charge the provider displays upfront. It typically ranges from €0 (promotional offers) to €5.99 for online transfer services. Traditional banks may charge €15-€50 for international wire transfers.
- Exchange Rate Markup: This hidden fee is built into the exchange rate you receive. The difference between the mid-market rate and the rate you’re offered is the provider’s profit. This can range from 0% (services like Wise that use the mid-market rate) to 3-5% for traditional banks.
- Intermediary and Receiving Bank Fees: When sending money through the SWIFT network, intermediary banks may charge $10-$30 per transaction, and the receiving bank in India might charge ₹100-₹300 for processing, plus 18% GST on applicable services.
How Much Does It Cost to Send €500 From Greece to India?
Let’s compare the actual costs using different providers:
Using Remitly (Economy):
- Transfer fee: €2.99
- Exchange rate: Near mid-market rate
- Total cost: Approximately 1.2% of transfer amount
- Amount received in India: ₹51,800+ (approximate)
Using a Traditional Bank:
- Transfer fee: €25-€40
- Exchange rate markup: 2-3%
- Intermediary fees: €10-€15
- Total cost: 7-8% of transfer amount
- Amount received in India: ₹48,000-₹49,000 (approximate)
The difference of ₹2,800-₹3,800 per transfer adds up significantly for caregivers and workers sending money home regularly.
Greece to India Exchange Rates: Understanding the Real Value
The EUR/INR exchange rate fluctuates daily based on market conditions. As of early 2025, the interbank rate is approximately 104.679 INR per EUR. However, this is the mid-market rate that only banks use when trading amongst themselves—not the rate typically available to individuals.
Tips for Getting the Best Exchange Rate
Monitor exchange rates regularly: Exchange rates fluctuate throughout the day. Using comparison tools like Monito before each transfer helps you identify the best time to send money.
Avoid airport exchange services: These typically offer the worst rates with markups as high as 10-15%.
Consider timing your transfers: If you’re not in a rush, watch the market trends. Exchange rates can vary significantly within a week, potentially saving you hundreds of rupees.
Use rate alerts: Many transfer services offer notifications when the exchange rate reaches your target level.
How Long Does It Take to Send Money From Greece to India?
Transfer speed varies significantly between providers and payment methods:
Instant to Same-Day Transfers
Cash pick-up services through Remitly and similar providers often deliver funds within minutes to a few hours. This speed comes with slightly higher fees but provides crucial flexibility during emergencies.
1-2 Business Days
Most bank deposit transfers using online money transfer services fall into this category. According to Exiap, Wise can deliver money to India in Instant-2 Days when available.
1-5 Business Days
Traditional bank wire transfers using the SWIFT network typically take longer. Receiving bank processing can add 2-5 days, whilst fintech solutions complete transfers in 24-48 hours.
Factors affecting transfer speed include:
- Payment method (bank transfer vs debit card vs credit card)
- Time of day you initiate the transfer
- Weekends and public holidays in either Greece or India
- KYC verification requirements for first-time transfers
- The receiving bank’s processing schedule in India
RBI Rules for Receiving Money in India: What You Need to Know
Understanding India’s regulatory framework ensures your transfers comply with all legal requirements, preventing delays or complications.
Foreign Exchange Management Act (FEMA) Compliance
All inward remittances to India are regulated by the Reserve Bank of India (RBI) under FEMA, 1999. These regulations ensure transparency, security, and proper tracking of foreign exchange flows into the country.
India received a record $135.46 billion in remittances during FY 2024-25, making it the world’s top recipient of foreign remittances. This massive inflow is carefully monitored to maintain economic stability and prevent financial crimes.
No Limits on Personal Inward Remittances
Good news for caregivers and workers: there’s no upper limit on personal remittances you can receive in India from family or for legitimate personal purposes such as family maintenance, gifts, education, or medical expenses.
However, you must receive foreign remittances through an Authorised Dealer Category-I bank (AD Cat-I bank). These are RBI-approved banks authorised to handle foreign exchange transactions.
Purpose Codes and Documentation
RBI uses purpose codes to track the reason for foreign exchange inflows. Common purpose codes for personal remittances include:
- P1301: Family maintenance/support
- P1302: Gifts
- P1303: Personal transfer
For larger transfers, banks might request:
- Proof of relationship with the sender
- Source of funds documentation
- Purpose declaration
- Valid identification (PAN card, Aadhaar)
Foreign Inward Remittance Certificate (FIRC)
When you receive money from abroad, your bank issues a Foreign Inward Remittance Certificate (FIRC) as proof of the transaction. This certificate is important for:
- Tax documentation and filing
- Claiming GST exemptions where applicable
- Proof of legitimate foreign income
- Verification for future financial transactions
Tax Implications for Recipients
Most personal transfers from family are tax-free for the recipient. However, if you receive gifts over ₹50,000 from a non-relative, it may be treated as taxable income under the Income Tax Act.
Funds received for services rendered, business income, or investment returns are taxable and must be declared in your income tax returns.
Is Online Money Transfer Safe From Greece to India?
The short answer is yes—when you use reputable, regulated providers and follow basic security practices. However, with global financial fraud losses exceeding $12.5 billion in 2024 according to the FBI’s Internet Crime Report, vigilance is essential.
Security Features to Look For
Regulatory Licensing: Always verify that your chosen provider is licensed and regulated by financial authorities. In Europe, look for companies regulated by the Financial Conduct Authority (FCA) or similar regulatory bodies.
Encryption and Data Protection: Reputable platforms use bank-level encryption, multi-factor authentication (MFA), and real-time fraud monitoring to protect your transfers.
Two-Factor Authentication (2FA): This adds an extra security layer by requiring verification beyond just your password—typically a code sent to your mobile phone.
Transaction Tracking: Legitimate services provide real-time tracking of your transfer, allowing you to monitor your money’s progress from Greece to India.
Money-Back Guarantees: Services like Remitly offer guarantees that refund your fees if transfers don’t arrive on time, demonstrating confidence in their service reliability.
Greece Remittance Safety Tips: Protecting Your Hard-Earned Money
Scammers are increasingly sophisticated, but following these safety guidelines can protect you from fraud.
Recognising Common Money Transfer Scams
Emergency Scams: Fraudsters impersonate family members claiming to be in distress and needing immediate money. Always verify by calling your family member directly using a known phone number before sending money.
Phishing Attacks: Fake emails or messages impersonating money transfer services attempt to steal your login credentials. Legitimate services will never ask for your password or security codes via email or text.
Investment and Lottery Scams: Be wary of offers guaranteeing high returns with little or no risk, particularly in foreign investments, cryptocurrency, or claims that you’ve won a foreign lottery.
Overpayment Scams: Someone sends you money, then claims they “accidentally” sent too much and requests a partial refund. After you send money back, the original transaction is reversed, leaving you out of pocket.
Romance Scams: Scammers build online relationships and eventually request money for emergencies, travel, or other fabricated reasons.
Essential Safety Practices
Never transfer money to strangers: Only send money to people or businesses you know and trust. If you receive an unexpected request, verify it through an independent communication channel.
Double-check recipient details: Even a small error in the bank account number or IFSC code can result in your money going to the wrong account. Always verify details before confirming the transfer.
Use secure internet connections: Avoid public Wi-Fi when making financial transactions. Use your mobile data or a secure, private internet connection.
Never share one-time passcodes: Legitimate companies will never ask for your OTP during a phone call or via email. Keep these codes private.
If something feels urgent, slow down: Scammers create artificial urgency to pressure you into making quick decisions. Take time to verify requests, especially unexpected ones.
Keep records of all transfers: Save confirmation emails, transaction IDs, and FIRC certificates. These documents are essential for tracking transfers, resolving issues, and tax compliance.
What to Do If You’ve Been Scammed
If you suspect you’ve fallen victim to a money transfer scam:
- Contact your provider immediately: Your money transfer service or bank can freeze accounts to stop further fraudulent activity.
- File a police report: This creates an official record and may help in recovery efforts or investigations.
- Report to relevant authorities: In Greece, report to local police and financial authorities. In India, notify the Cyber Crime Cell and your bank.
- Change your passwords: If scammers accessed your account, immediately change passwords for your money transfer service, email, and banking apps.
Remember, wire transfers are typically irreversible once completed. Prevention through vigilance is your best protection.
Safest Money Transfer App for Greece to India: Making the Right Choice
Selecting the right app involves balancing cost, speed, security, and convenience based on your specific needs.
For Regular Caregivers Sending Monthly Support
If you’re a caregiver in Greece sending money home monthly to support your family, prioritise:
- Low fees on recurring transfers: Services like Remitly and Panda Remit offer competitive rates
- Convenient payment options: Direct debit or saved card details for quick transfers
- Reliable delivery times: Consistency matters when family depends on regular support
- Customer support in your language: Access to help when needed
For Emergency or One-Time Transfers
When speed is critical:
- Cash pick-up services: Remitly’s express service delivers within hours
- Instant bank deposits: Some providers offer same-day delivery for urgent situations
- 24/7 transfer capability: Send money any time, even outside business hours
For Large Transfers (Over €1,000)
When sending significant amounts:
- Compare exchange rates meticulously: Even small rate differences significantly impact larger transfers
- Check transfer limits: Some services have maximum transaction limits
- Consider split transfers: For very large amounts, splitting into multiple transfers might offer better rates
- Verify receiving bank policies: Ensure the recipient’s bank can handle large foreign deposits
How Grandmama Can Support Your International Caregiving Career
If you’re an Indian caregiver working in Greece—or planning to start your career abroad—having the right guidance and support can make all the difference. Grandmama India is a trusted platform that helps caregivers prepare for overseas roles, adapt to new work environments, and build long-term, stable careers in Europe and beyond.
Comprehensive Pre-Departure Training
Before you begin your caregiving role in Greece, Grandmama provides three months of intensive training that prepares you for success:
Professional Caregiving Skills: Learn best practices for elderly care, special needs assistance, and European work standards that employers expect.
Cultural and Language Preparation: Understand Greek culture, basic language skills, and how to navigate daily life in a new country.
Financial Management Guidance: Receive practical advice on managing your income abroad, understanding exchange rates, and choosing the best methods to send money home to India.
Legal and Compliance Education: Learn about work permits, visa requirements, banking in Greece, and RBI compliance for receiving and sending remittances.
Ongoing Support Throughout Your Career
Unlike many agencies that disappear after placement, Grandmama continues supporting you:
Problem Resolution: Whether you’re facing workplace challenges, documentation issues, or simply need advice, Grandmama’s support team remains accessible.
Career Development: As you gain experience, Grandmama helps you advance through better-paying positions, additional certifications, or specialised caregiving roles.
Community Connection: Join a network of Indian caregivers working internationally, sharing experiences, tips, and support.
Why Indian Caregivers Trust Grandmama
Thousands of caregivers have successfully built meaningful international careers through Grandmama’s platform. They’ve achieved:
- Financial stability through fair compensation and smart money management
- Professional growth through quality training and career advancement opportunities
- Cultural enrichment from living and working in diverse environments
- Family support through reliable income and secure money transfers home
Working abroad as a caregiver offers incredible opportunities, but success requires proper preparation and ongoing support, —exactly what Grandmama provides.
Apply for overseas caregiving roles with Grandmama today
International Transfer Limits Greece: What You Should Know
Sending Money From Greece
Under the European Union’s regulatory framework, there are generally no limits on how much you can send abroad from Greece for legitimate purposes. However, anti-money laundering (AML) regulations require additional documentation for large transfers.
Transfers over €10,000 may require:
- Proof of source of funds
- Purpose declaration
- Enhanced identity verification
- Additional compliance checks
Money Transfer Service Scheme (MTSS) for India
For personal remittances to India through the Money Transfer Service Scheme (MTSS):
- Maximum per transaction: $2,500 USD
- Maximum transactions per recipient: 30 remittances per calendar year
- This scheme is specifically for family support and assistance
For amounts exceeding these limits, transfers must go through regular banking channels with appropriate documentation.
Making Your Decision: Start Sending Money Safely Today
Choosing the best way to send money from Greece to India comes down to understanding your priorities and selecting services that match your needs. Whether you prioritise the lowest cost, fastest speed, or maximum convenience, reputable options exist that are safer and more affordable than traditional banks.
Quick Decision Framework
Choose Remitly if: You want the cheapest option for cash pick-up, need money delivered quickly, or value a user-friendly mobile app with excellent customer service.
Choose Wise if: You prioritise complete transparency, want the mid-market exchange rate, and are comfortable with USD transfers to India.
Choose Panda Remit if: You’re making your first transfer and want to take advantage of zero-fee offers, then continue with competitive rates.
Choose ACE Money Transfer if: You want comprehensive support specifically designed for Indian expats in Greece.
Final Safety Reminders
Before making any transfer:
- Verify the provider is properly licensed and regulated
- Compare total costs (fees + exchange rate markup)
- Double-check all recipient details
- Use secure internet connections
- Never share passwords or OTPs
- Keep records of all transactions
- Report suspicious requests immediately
Maximising Value: Beyond Just Sending Money
Smart caregivers don’t just send money—they strategically manage their international finances to build long-term wealth. Consider these advanced strategies:
Currency Timing: Track EUR/INR exchange rate patterns over several weeks. Many caregivers notice that rates fluctuate by 1-2% weekly. If you’re not in an emergency, waiting a few days for a better rate on a €1,000 transfer could mean an extra ₹1,000-₹2,000 for your family.
Batch Transfers for Better Rates: Some providers offer improved rates for larger transfers. If you’re sending €200 weekly (€800 monthly), you might save on fees by sending €800 once per month instead—though balance this against your family’s cash flow needs.
Use Loyalty Programmes: Many transfer services offer referral bonuses, reduced fees for regular customers, or reward points. Remitly, for instance, provides promotional rates for consistent users.
Maintain Transfer Records: Detailed records help you identify which providers consistently give you the best rates, which days of the week offer better exchange rates, and how much you’re actually saving compared to banks—valuable information for optimising future transfers.
The Bottom Line: Safe Money Transfers Start With Smart Decisions
The safest way to send money from Greece to India combines three essential elements: choosing licensed and regulated providers, following security best practices consistently, and staying informed about exchange rates and fees. Your family in India depends on you, and every euro you save on transfer fees is an extra euro supporting their wellbeing.
Remember, traditional banks are no longer your only or best option. Modern money transfer services offer superior exchange rates, lower fees, faster delivery, and enhanced security features specifically designed for international remittances. By comparing providers before each transfer, you can save hundreds of euros annually—money that could fund a child’s education, support medical expenses, or build your family’s financial security.
Working as a caregiver in Greece offers the opportunity to earn in a stronger currency whilst supporting your loved ones back home. Make sure you’re maximising every benefit of this opportunity by sending money through the safest, most cost-effective channels available.
Your journey to secure, affordable international money transfers starts with informed decisions and continues with consistent smart practices. Use this guide as your reference, stay vigilant against scams, and always prioritise security alongside cost savings. Your hard work deserves to translate into maximum support for your family—don’t let excessive fees or poor exchange rates diminish your efforts.
FAQs on How to Send Money From Greece to India
1. What is the safe way to send money from Greece to India for caregivers?
The safest way is to use regulated money transfer services like Remitly, Wise, Panda Remit, or ACE Money Transfer. These platforms offer secure transfers, transparent fees, and trackable delivery.
2. Which providers offer the safest way to send money from Greece to India?
Top providers include Remitly (cash pick-up), Wise (transparent exchange rates), Panda Remit (zero-fee first transfers), and ACE Money Transfer (fast, reliable service for Indian expats).
3. How can I send money from Greece to India safely and with low fees?
Compare services for transfer fees, exchange rates, and delivery speed. Services like Remitly and Panda Remit often provide low fees and safe, quick delivery.
4. Is online transfer a safe way to send money from Greece to India?
Yes, online transfers are safe when using regulated platforms. Ensure the provider is licensed, uses encryption, offers two-factor authentication, and allows you to track your transfer.
5. What steps ensure a safe way to send money from Greece to India?
To stay safe:
- Verify provider licensing
- Double-check recipient details
- Use secure internet connections
- Avoid sharing OTPs or passwords
- Keep transaction records