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Top 3 Money Transfer Providers for Norway to India

Provider Amount Received Fee Exchange Rate Speed
WorldRemit WorldRemit INR 69,842.40 No Fee 6.9842 more...
TransferWise TransferWise INR 71,399.08 65.22NOK 7.1399 2 Days more...
Western Union Western Union INR 68,956.70 No Fee 6.8957 In minutes more...
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NORWAY
The Norwegian government does not apply foreign exchange controls on the krone (NOK), allowing money to be sent to Norway and transferred from Norway freely, without being subject to prior government approval Read More
INDIA
There are few restrictions on transferring money to India, but the Reserve Bank of India (RBI) has begun enforcing an existing Foreign Exchange Management Act (FEMA) article that prohibits rupees from being taken out of India Read More
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Top 3 Money Transfer Providers

Latest prices for transferring money from Norway to India
Exchange Rates as of 27 March 2020, 14:54

WorldRemit

Est. 2010

Use the code '3FREE' and pay no fees on your first three money transfers

WorldRemit is an online service that lets people send money to friends and family living abroad, using a computer, smartphone or tablet.

More InfoLess Info
FXcompared
Score
Amount Received
INR 69,842.40
No saving vs. banks

TransferWise

Est. 2011

TransferWise is an online only provider

More InfoLess Info
FXcompared
Score
Amount Received
INR 71,399.08
NOK kr 133.83
saved vs. banks

Western Union

Est. 1851

The Western Union Company is a financial services and communications company based in the United States.

More InfoLess Info
FXcompared
Score
Amount Received
INR 68,956.70
No saving vs. banks

How to Transfer Money from Norway to India

What is in this guide

Norway to India Guide

Summary

Economic and commercial relationships between Norway and India have been growing steadily, particularly since the signature of the Plan of Action for India, under which the two countries collaborate on issues related to economic development and health. While India has prohibited outgoing cash transfers denominated in rupees (INR), the country places no restrictions on incoming money flows. Norway does not employ capital controls and allows its currency, the krone (NOK) to be converted freely, so there are no restrictions to transfer money from Norway to India.

Visas and immigration

Norwegian nationals who plan to visit India for a short period of time, whether for business or personal reasons, are eligible to obtain a tourist visa upon arrival at the Indian airport. This is not applicable to diplomats or officials. Tourist visas can also be processed online at the Online Indian Visa Centre. The cost is US$60, and visitors are permitted to stay for a maximum of 30 days. Holders of this particular type of visa are not allowed to work in India during their stay.

In order to work or remain longer in India, Norwegians may choose from among several types of work, business and employment visas, as well as a residence permit. While it is not difficult to obtain a visa for India, the challenge lies in deciding which of the many options is right for your particular travel needs. Further information can be obtained from the Indian Embassy in Norway.

Banking and Money

The Indian banking system has undergone rapid growth. Opening a local bank account is advisable if you plan to spend a significant amount of time in the country, and can make it easier to transfer money from Norway to India. The country has a wide variety of private, public and international banks, which maintain more than 53,000 branches and 17,000 ATMs nationwide.

Many financial institutions in India offer electronic banking services. Some local banks also offer a dedicated financial manager to help with particular types of transactions. Non-residents may open a temporary bank account without a visa, as long as it is denominated in rupees. However, many international visitors to India prefer to use the services of an international bank, such as HSBC or Citibank. In some cases, you can open your account before you leave for India. Be informed that international banks may have higher service charges than local banks.

Remittances

Strong ties are maintained between Indian expats in Norway and family and friends back in India. Many travel back and forth frequently and keep up to date on current affairs in their home country through online media and satellite TV. India is the top remittance-receiving country in the world, registering US$71bn in foreign receipts in 2013, according to World Bank data. Given the demand for remittance services, a large number of companies are willing to make these types of transfers to India, and incoming capital flows to India are entirely unrestricted.

Trade between Norway and India

Trade between Norway and India is steadily increasing. In 2012, exchanges between the two countries reached US$932m, according to statistics from the Indian government. India’s exports to Norway, which drive a steady volume of money transfers to India, include fabrics, furniture, transport equipment, coffee, spices, footwear, clothing, tea, paper products and minerals. In the opposite direction, India imports a variety of goods from Norway, such as industrial machinery, artificial resins, electronics, scientific control equipment, non-ferrous metals and plastics.

Investing in India

3 Results for Money Transfer Providers

Based on sending 10,000 NOK

Transfer Money from Norway to India - NOK to INR

Economic and commercial relationships between Norway and India have been growing steadily, particularly since the signature of the Plan of Action for India, under which the two countries collaborate on issues related to economic development and health. While India has prohibited outgoing cash transfers denominated in rupees (INR), the country places no restrictions on incoming money flows. Norway does not employ capital controls and allows its currency, the krone (NOK) to be converted freely, so there are no restrictions to transfer money from Norway to India.


Less Info

Visas and immigration


Norwegian nationals who plan to visit India for a short period of time, whether for business or personal reasons, are eligible to obtain a tourist visa upon arrival at the Indian airport. This is not applicable to diplomats or officials. Tourist visas can also be processed online at the Online Indian Visa Centre. The cost is US$60, and visitors are permitted to stay for a maximum of 30 days. Holders of this particular type of visa are not allowed to work in India during their stay.


In order to work or remain longer in India, Norwegians may choose from among several types of work, business and employment visas, as well as a residence permit. While it is not difficult to obtain a visa for India, the challenge lies in deciding which of the many options is right for your particular travel needs. Further information can be obtained from the Indian Embassy in Norway.


Trade between Norway and India


Trade between Norway and India is steadily increasing. In 2012, exchanges between the two countries reached US$932m, according to statistics from the Indian government. India’s exports to Norway, which drive a steady volume of money transfers to India, include fabrics, furniture, transport equipment, coffee, spices, footwear, clothing, tea, paper products and minerals. In the opposite direction, India imports a variety of goods from Norway, such as industrial machinery, artificial resins, electronics, scientific control equipment, non-ferrous metals and plastics.


Investing in India


The number of Norwegian companies invested in India continues to rise. As of early 2015, there are approximately 90 Norwegian firms established in India, with investments worth some US$10bn. These projects have created an estimated 10,000 and are another major driver of money transfers from Norway to India. Norwegian authorities have shown a particular interest in hiring Indian engineers and IT professionals.


Norway is among the leading nations in the maritime sector. Approximately 7,500 Indian nationals are currently employed in the industry, and Norwegian ships make between 500-600 annual port calls in India. Many partnerships have been established between the two countries’ shipping industries.

Bilateral Agreements

Norway and India have signed several agreements in an effort to strengthen bilateral ties. A double taxation avoidance agreement between both countries covers any taxes that would be paid on income, royalties, dividends, fees for services or interest. These earnings should not be taxed more than 10% within the country that they are earned. The two countries also signed a memorandum of understanding in the area of renewable energy, and work together in the area of fuel cells and hydrogen cells.

Frequently Asked Questions

Are the money transfer companies shown above safe to use?

Yes, all the companies are safe and fully-regulated money transfer services. Each are authorised and regulated by the relevant authority such as the Financial Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.

How long does an international money transfer take?

The speed of delivery will depend on where the money is being from and to and how you are sending and receiving the money. Transfers sent using bank to bank transfers can depend take anywhere from minutes to days and you should check the time estimates from the relevant provider. Debit and credit card payments sometimes allow for faster transfers for smaller amounts.

How do I use FXcompared?

First review the comparison results (such as for a table above) for a given amount of money sending from Norway to India. Then select a provider based on factors such as price, speed, their rating and click the green button to be taken to their website. From there, you can register and sign up for an account. Once you have done that and the provider has verified your identity to ensure the money can be send safely, you will be ready to transfer money.

What payments methods can I use to send money overseas?

The results shown above are typically for bank to bank transfers. It is possible via some providers to pay in your funds for the transfer via cash, debit or credit cards as well but this is usually reserved for smaller amounts. Some providers also give you different options for how the money will be received - to a bank account (most common), to a debit card, to cash or to a digital or mobile wallet.

What if the price shown above isn’t exactly what I am offered when I try to transfer money?

There can be a number of reasons why the final price you are offered may be different to that shown in the table above. Exchange rates between two currencies change all the time and is the most common reason. Additionally, some providers offer different pricing depending what method you are using to send funds or how the funds will be received. Others may offer you a premium service for faster payments. In some cases FXcompared has a special rate with a provider and this is reserved for first time customers who sign up to the provider starting from FXcompared’s website. As prices do change often, be sure to confirm the total cost with the provider before transferring money.

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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.