How to Send Money from India to UK (2026): Charges and Methods

Send GBP from India to a UK bank account: what the bank needs (sort code, account number, IBAN, BIC), the five methods and their real cost, delivery time and TCS by purpose.

How to Send Money from India to UK (2026): Charges, Limits and Best Methods

To send money from India to the UK you need the recipient’s sort code, account number and bank BIC, a purpose under the Liberalised Remittance Scheme, and Form A2. Money goes by SWIFT and lands in 1 to 3 working days. The real cost is the exchange-rate markup, so compare total rupees for a fixed GBP amount.

Key facts

• Annual limit: USD 250,000 per resident individual per financial year under LRS, all purposes combined.
• UK bank details: 6-digit sort code, 8-digit account number, 22-character IBAN starting GB, and an 8 or 11 character BIC.
• Bank SWIFT cost: INR 500 to 1,500 flat plus a 2% to 3.5% margin on the rate plus GBP 15 to 25 in correspondent charges.
• TCS from 1 April 2026: self-funded education and medical 2% above INR 10 lakh; loan-funded education 0%; gifts and maintenance 20% above INR 10 lakh.
• GBP/INR mid-market rate was roughly 128 on 8 September 2026. Check the live rate before you send.

Who sends money from India to the UK, and for what

The UK is one of the three largest outward corridors from India, and the traffic is mostly families. Parents pay tuition in September and January, then send monthly living money. Students pay rent deposits and top up their own UK accounts. People who have accepted a job in London fund a new UK account before their first salary. Relatives of NRIs send gifts and support.

Each is a different purpose under LRS, and the purpose decides the documents, the code on Form A2 and the TCS rate. Tuition and hostel fees go as S0305 (travel for education), monthly support to an enrolled student is also S0305, a gift to a sibling is S1302, and funding your own account before you emigrate is usually S1301 (family maintenance and savings) or S0023 (emigration) depending on your status. The authorised dealer assigns the code for anything outside those. RBI’s own LRS FAQ sets out the USD 250,000 limit and the permitted purposes, and our LRS explainer puts it in plain language.

What a UK bank needs from you

UK domestic payments run on the sort code and account number. International payments arrive by SWIFT and use the IBAN and BIC. You will need all four, plus the recipient’s name as it appears on their account, and their address.

The sort code is six digits, written as three pairs (for example 40-05-15), and identifies the bank and branch. The account number is eight digits. The IBAN for a UK account is 22 characters: GB, two check digits, four letters for the bank, then the sort code and account number run together. The IBAN registry entry for the United Kingdom gives the sample GB26 MIDL 4005 1512 3456 74, where MIDL is the bank code, 400515 the sort code and 12345674 the account number. If you have the IBAN you can read the other two straight off it.

The BIC (or SWIFT code) is 8 or 11 characters. Retail codes for the big high-street banks are BUKBGB22 for Barclays Bank UK, HBUKGB4B for HSBC UK, LOYDGB2L for Lloyds and NWBKGB2L for NatWest. Some banks operate more than one BIC (Barclays’ corporate arm uses BARCGB22), so take the code from the recipient’s own statement rather than from a list. Our post on what a BIC/SWIFT code is covers how to read one.

Digital banks such as Monzo, Starling and Revolut can receive SWIFT payments, but some use a partner bank’s BIC and some charge a receiving fee, so ask the recipient to check their app first.

For a university tuition payment, the details are on the fee invoice, and the payment reference must carry the student ID. A missing reference is the most common reason a tuition payment sits unallocated for weeks.

The five ways to send GBP from India

1. Your bank, at the branch. Fill in Form A2 on paper, attach documents, and the bank sends a SWIFT MT103. Cost is a flat fee of INR 500 to 1,500 plus a rate typically 2% to 3.5% away from interbank. Correspondent banks deduct GBP 15 to 25 on the way.

2. Your bank, online. Most large banks offer outward remittance through net banking (ICICI Money2World, HDFC RemitNow and similar). Same SWIFT rails and similar margins, but the fee is often lower and there is no branch visit.

3. A licensed money changer or AD-II dealer. Rates can beat a bank’s; service varies and paperwork is heavy.

4. A fintech app. Some international apps let Indian residents send GBP for limited purposes at a mid-market rate plus a disclosed fee. Several do not support tuition or large amounts, and the money still flows through an Indian AD partner.

5. Fairexpay. Online KYC, digital Form A2, the live interbank rate with zero markup, a fee from 0.4%, T+1 processing through RBI-authorised AD-I and AD-II partners, and tracking under “My Remittances”. Details on our send money to the UK page.

Method	Rate basis	Fee	Correspondent deductions	Typical delivery
Bank, branch	Bank card rate, 2% to 3.5% above interbank	INR 500 to 1,500 + GST	GBP 15 to 25	2 to 4 working days
Bank, online	Bank card rate, often slightly better	INR 0 to 1,000 + GST	GBP 15 to 25	1 to 3 working days
Money changer / AD-II	Negotiable, usually 1% to 2.5% above interbank	Varies	GBP 15 to 25	1 to 3 working days
Fintech app	Mid-market plus disclosed fee	0.5% to 2%	Usually none	1 to 3 working days
Fairexpay	Live interbank rate, zero markup	From 0.4% + GST	Shown up front	T+1 processing, then 1 to 2 working days

The bank, dealer and app figures are ranges we see in practice, not a price list. Every provider must show the exact rate and fee on the quote screen before you commit.

Worked example: GBP 10,000 through a bank and through Fairexpay

On 8 September 2026 the GBP/INR mid-market rate was roughly 128.20. Take a parent sending GBP 10,000 for a term’s living expenses, self-funded, with no other LRS remittances this year.

Through a bank with a 2.5% margin. The bank’s selling rate is about 131.40. GBP 10,000 costs INR 13,14,000. Add a flat fee of INR 1,000 and INR 180 GST on it. GST on conversion is INR 990 plus 0.018% of the amount above INR 10 lakh, about INR 1,047. Total paid: about INR 13,16,227. On the way, a correspondent bank deducts GBP 15 to 25, so the student receives roughly GBP 9,975 to 9,985.

Through Fairexpay at the live rate. GBP 10,000 at 128.20 is INR 12,82,000. The fee at 0.4% is INR 5,128, with INR 923 GST on it. GST on conversion is about INR 1,041. Total paid: about INR 12,89,092. The arrival amount is shown on the quote before you pay.

The difference is about INR 27,000 on a single GBP 10,000 transfer, and almost all of it is the rate, not the fee. Over an academic year of three such transfers plus tuition, the gap runs into lakhs.

TCS here is zero, because the amount is under INR 10 lakh. Had the same parent already sent INR 20 lakh of tuition this year, 2% TCS of about INR 25,640 would be collected on top, recoverable through the ITR.

How to compare quotes properly

Fix the GBP amount and compare the total INR debited. Ask each provider: “How many rupees leave my account for GBP 10,000 to arrive?” Ignore the words “zero fee”. A provider with no fee and a 3% margin costs more than one with a 0.4% fee at the interbank rate. The rate margin is invisible unless you check it against the mid-market rate at the same minute.

Then ask who pays the correspondent charges. On SWIFT you choose OUR (you pay everything, recipient gets the full amount), SHA (you pay your bank, recipient bears intermediary charges) or BEN (recipient pays all). For tuition, choose OUR or add GBP 25 as a buffer, because a university will chase the shortfall.

Delivery time and cut-offs

Indian ADs release SWIFT payments in batches, and most need documents approved and funds received before about 2 pm IST for same-day release. Weekends and bank holidays in either country add a day.

Pay Fairexpay by UPI on a Monday morning with documents in order, and the money is usually in a UK account by Wednesday or Thursday. A branch SWIFT started on Monday often lands on Friday. For a tuition deadline, start a week early.

TCS by purpose on UK transfers

From 1 April 2026: self-funded education and medical treatment, 2% on the amount above INR 10 lakh in the financial year; education funded by a loan from a bank or Section 80E notified lender, 0%; overseas tour packages, 2% from the first rupee; every other purpose, including gifts, family maintenance, property and investments, 20% above INR 10 lakh. The threshold is per PAN across all ADs. Full detail is in our post on the new TCS rates from 1 April 2026.

Two UK-specific points. Money sent to an enrolled student for rent and food is education if you send it under S0305 with the admission letter; sent as family maintenance it attracts 20%. And money you send to your own UK account before moving falls under the 20% bracket above INR 10 lakh, so sequence it with your other remittances in mind. Our fund your own account abroad page covers that case.

The Student visa maintenance requirement (GBP 1,529 per month in London, GBP 1,171 outside, for up to 9 months, held for 28 consecutive days, per gov.uk) is separate. It can be shown in an Indian account; it does not need to be sent to the UK before the visa.

How to do this with Fairexpay

Register with your PAN and Aadhaar and complete KYC once. Add the UK beneficiary with name, sort code, account number, IBAN and BIC, and pick the purpose: tuition fee, living expenses, accommodation, gift, or funding your own account. Upload the documents for that purpose (passport, admission letter and fee invoice for tuition; relationship proof if you are paying for your child; loan sanction letter for 0% TCS). Sign Form A2 digitally.

The quote shows the live interbank GBP/INR rate with zero markup, the fee from 0.4%, GST, any TCS and the exact GBP arrival amount. Pay by UPI or net banking. The transfer goes through our RBI-authorised AD-I and AD-II partners with T+1 processing, and you follow it under “My Remittances” with SMS and email updates until it credits. We are an RBI Sandbox Cohort II exit and send to 180+ countries.