NRIs can now transfer money to India using UPI, here’s how

Updated on 05-Nov-2024
HIGHLIGHTS

NPCI has introduced a new initiative allowing NRIs to use UPI for instant money transfers to India.

For those with NRE or Non-Resident Ordinary NRO accounts, this service offers a faster, more cost-effective option compared to traditional wire transfers.

Currently, NRIs from certain countries can link their numbers to UPI.

If you’re an NRI looking for an easier and quicker way to send money to India, there’s some great news. The National Payments Corporation of India (NPCI) has introduced a new initiative allowing Non-Resident Indians (NRIs) to use UPI for instant money transfers to India. This means you can complete transactions from anywhere in the world with just a few taps on your smartphone.

For those with Non-Resident External (NRE) or Non-Resident Ordinary (NRO) accounts, this service offers a faster, more cost-effective option compared to traditional wire transfers, which can often be slow and come with high fees. With UPI, NRIs can transfer money instantly to India, making it ideal for quick and affordable transactions.

How to get started

  • Link your international mobile number: First, connect your international mobile number to your bank account.
  • Download a UPI app: Choose a UPI-enabled app that supports international mobile numbers. Complete the onboarding process, which may vary depending on the bank’s specific requirements and conditions.

Countries eligible for UPI services

Currently, NRIs from certain countries can link their numbers to UPI. Here’s a list of eligible countries:

  • Australia (+61)
  • Canada (+1)
  • France (+33)
  • Hong Kong (+852)
  • Malaysia (+60)
  • Oman (+968)
  • Qatar (+974)
  • Saudi Arabia (+966)
  • Singapore (+65)
  • UAE (+971)
  • UK (+44)
  • USA (+1)

Banks supporting international mobile numbers

Several banks in India are participating in this initiative, enabling smooth transactions for NRIs. These banks include:

  • IndusInd Bank
  • HDFC Bank
  • City Union Bank
  • Axis Bank
  • South Indian Bank
  • Equitas Small Finance Bank
  • Federal Bank
  • IDFC First Bank
  • Canara Bank
  • DBS Bank Ltd
  • Punjab National Bank
  • ICICI Bank

This new UPI service is a game changer for NRIs, allowing them to easily send money to India from abroad. With instant and affordable transfers, it provides an easy solution for NRIs to support their family, pay bills, or handle any urgent needs back home.

Ayushi Jain

Tech news writer by day, BGMI player by night. Combining my passion for tech and gaming to bring you the latest in both worlds.

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