Indian Rupees Maximum Payment

Rutland FX imposes a maximum transfer size of INR 1,500,000 per beneficiary per day and INR 1,500,000 limit per invoice.

Rated 4.5 out of 5 on Trustpilot

Rutland FX is rated Excellent on Trustpilot and has been trading for over seven years, powered by a Visa solution, “Currency Cloud”.

Competitve Exchange Rates

Rutland FX will offer the most competitive exchange rate possible based on the amount you are converting.

To send money to India from the UK with Rutland FX, you will need to register for an account. If you already have an account, you can log in and get a quote. If you are happy with the quote, you can then book the conversion directly on the platform or by contacting your account executive, who can assist you with making the transfer. Once the conversion is booked and settled, you can then instruct a payment to India via IMPS or NEFT.

When sending money to India, it’s essential to have accurate information to ensure the transfer is successful. Here’s what you need from your recipient:

  • Recipient’s Full Name: Ensure the name matches the one registered with their bank account.
  • Recipient’s Account Number: The account number of the recipient’s bank account in India.
  • IFSC Code: The Indian Financial System Code (IFSC) is an 11-character code used to identify the specific branch of the bank where the recipient’s account is held. It can be found on the recipient’s bank statement or cheque book.
  • Recipient’s Address: The full residential address of the recipient, including the city, state, and postal code.
  • Bank Name and Branch: The name of the recipient’s bank and the specific branch where their account is held.
  • Purpose of Transfer: A brief description of the reason for the transfer, as we require this information to comply with international transfer regulations.

The fastest way to send money to India from the UK is via NEFT (National Electronic Funds Transfer) or IMPS (Immediate Payment Service). Rutland FX provides same-day INR transfers to India via NEFT & IMPS at no additional cost. To guarantee a same-day transfer, book and settle your conversion before the 15:30 UK cut-off time. Although recipients usually receive the funds within a day, in some cases, it may take 2 to 3 business days depending on the receiving bank and corresponding banks.

NEFT, short for National Electronic Funds Transfer, is a centralised payment system in India owned and operated by the Reserve Bank of India (RBI). It allows for secure and nearly real-time transfer of funds to beneficiary accounts and is accessible 24/7 throughout the year. Transactions can be initiated online through internet or mobile banking provided by member banks or in person at bank branches. NEFT operates in batches throughout the day. It’s available for use by individuals, firms, and corporates maintaining accounts with any participating bank to transfer funds electronically to accounts at other banks in the country. Funds are typically received by the beneficiary within two hours of batch settlement within India; however, for international payments via NEFT, it may take longer. Accuracy in providing beneficiary details is crucial to ensure smooth NEFT transactions, as there is no option to recall or trace payments made using this scheme.

IMPS, or Immediate Payment Service, is an instant electronic fund transfer service that allows inter and intra-bank transfers in India. With IMPS, you can send money in real-time, and it will be credited to the beneficiary’s account within seconds. The service is available 24×7 throughout the year, including on Sundays and bank holidays. You can access IMPS through multiple channels such as mobile banking, SMS, net banking, or even ATMs. To initiate a transaction via IMPS, you need either the mobile number and MMID of the beneficiary or their account number and IFSC code.

The payment scheme used will depend on the transaction size. For payments up to 500,000 INR, the payment route IMPS is utilised. For payments over 500,000, we employ NEFT. If a payment is below 500,000 and the receiving bank is not connected to IMPS, we default to NEFT.


When you convert one currency into another for immediate transfer, it’s termed a spot trade. Simply put, ‘spot’ means settling the transaction immediately or ‘on the spot’. This involves buying and selling currencies simultaneously. Normally, funds become available within three business days from when you initiate the transfer unless you specify ‘tod’ for today in the case of same-day transfers, or ‘tom’ for tomorrow. For Conversions from GBP to INR the earliest settlement date is “Tom”.

Rutland FX does not charge any payment conversion or account fees instead we apply small mark-up to the exchange rate based on the amount of curency you need, this means the more currency you plan to convert the more competitive our exchange rates will be.

On some occasions, the funds transferred to India may have a small deduction due to correspondent bank charges. These charges are applied by intermediary banks that facilitate the international transfer and are beyond the control of the sending institution, such as Rutland FX. To ensure that the recipient receives the intended amount, it is advisable to send a little bit extra to cover these potential costs.

Rutland FX is a UK-based financial technology company (FinTech) that has assisted businesses and individuals in reducing the cost of cross-border payments and managing currency risk for over 7 years. The Rutland FX platform is powered by “Currency Cloud,” a subsidiary of Visa. The Currency Cloud Limited is regulated and authorised by the Financial Conduct Authority (FCA) as an Electronic Money Institution (EMI), under the firm reference number 900199. This authorisation level is equivalent to that of PayPal. You can verify this information by searching the firm reference number on the FCA website and checking the “Firm Status”. For comprehensive information about Rutland FX’s regulatory and security details, you can visit this page.

As an Electronic Money Institution (EMI), Currency Cloud is obligated to maintain adequate capital reserves and ensure the proper safeguarding of customer funds. All funds received in relation to electronic money will be held in one or more segregated client accounts with tier-1 banks, such as Barclays Bank PLC. This ensures that in the unlikely event of Currency Cloud or Rutland’s insolvency, administrators would reimburse your funds from the segregated safeguarded funds.

To open an account with Rutland FX, you will need to register online here. After submitting your application, our onboarding team will review it. If no further information is needed, your account will be enabled the same day. Multi-currency accounts will then be immediately available. At this stage, your account manager will also contact you to address any final questions and guide you through making your transfer if required.

If you are still unsure or have any further questions, please call us on 0203 026 0112 or request a callback below to discuss your requirements.