“Discover the top 10 best domestic money transfer Portal companies in India. Cashless India stands out as a top choice for retailers, offering seamless banking and DMT services on its B2B platform. Other leading providers like NSDL Payment Banks, Airtel Payment Bank, and more are revolutionizing secure, efficient, and affordable money transfer solutions.”
top 10 domestic money transfer companies in India
In this article, we’ll explore the top 10 domestic money transfer Portal companies in India that are at the forefront of this digital revolution.
1. Cashless India
Cashless India is a government-led initiative aimed at promoting digital payments and reducing the dependency on cash transactions. Through initiatives such as Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), and Aadhaar Enabled Payment System (AEPS), Cashless India has paved the way for the widespread adoption of digital payment solutions across the country. By providing a secure and convenient platform for money transfer, Cashless India has played a crucial role in driving India’s transition towards a cashless economy.
Domestic Money Transfer Details:
- Charges: Varies
- Xpress Payout (DMT) Surcharge
- 100-10000 is Rs. 15.00
- 10001-20000 is Rs. 20.00
- 20001-30000 is Rs. 30.00
- 30001-40000 Rs. is 40.00
- 40001-50000 Rs. is 50.00
- Limit: Typically, the maximum amount per transaction is Rs. 2 lakhs for Cashless India payment service providers.
- Other Details: Charges and limits may vary based on factors such as the mode of transfer (UPI DMT, DMT), sender’s and receiver’s bank, and transaction frequency.
2. NSDL Payment Banks
NSDL Payment Banks is a subsidiary of the National Securities Depository Limited (NSDL) and is one of the leading players in the domestic money transfer market. Leveraging its robust infrastructure and technological capabilities, NSDL Payment Banks offers a wide range of digital payment solutions, including mobile banking, internet banking, and prepaid instruments. With a strong focus on customer convenience and security, NSDL Payment Banks has emerged as a trusted partner for millions of Indians seeking reliable money transfer services.
Domestic Money Transfer Details:
- Charges: Varies depending on the transaction amount and service availed.
- Limit: Typically, the maximum amount per transaction is Rs. 25,000 for basic KYC customers and Rs. 1 lakh for full KYC customers.
- Other Details: Charges and limits may vary based on the type of account and transaction type.
3. Airtel Payment Bank
Airtel Payment Bank is a subsidiary of Bharti Airtel, one of India’s largest telecommunications companies. Combining the reach of Airtel’s extensive network with the convenience of digital payments, Airtel Payment Bank offers a range of banking and financial services, including money transfer, bill payments, and merchant payments. With its user-friendly mobile app and seamless integration with Airtel’s telecom services, Airtel Payment Bank has become a popular choice for customers looking for hassle-free money transfer solutions.
Domestic Money Transfer Details:
- Charges: Varies depending on the transaction amount and service availed.
- Limit: Typically, the maximum amount per transaction is Rs. 25,000 for basic KYC customers and up to Rs. 1 lakh for full KYC customers.
- Other Details: Charges and limits may vary based on factors such as transaction mode, sender’s and receiver’s location, and service provider policies.
4. Paytm Payment Bank
Paytm Payment Bank is a leading player in India’s digital payments ecosystem, offering a wide range of financial services to its customers. With its popular mobile wallet and payment app, Paytm enables users to transfer money instantly to friends, family, and merchants. Additionally, Paytm Payment Bank provides savings accounts, debit cards, and other banking services, making it a one-stop destination for all financial needs. With its user-friendly interface and robust security features, Paytm Payment Bank has gained widespread acceptance among Indian consumers.
Domestic Money Transfer Details:
- Charges: Varies depending on the transaction amount and service availed.
- Limit: Typically, the maximum amount per transaction is Rs. 25,000 for basic KYC customers and up to Rs. 1 lakh for full KYC customers.
- Other Details: Charges and limits may vary based on factors such as transaction mode, sender’s and receiver’s location, and service provider policies.
5. Fino Bank
Fino Bank is a prominent player in India’s financial services sector, offering a comprehensive suite of banking and payment solutions. With its extensive network of branches and digital channels, Fino Bank enables customers to transfer money seamlessly across the country. Whether it’s through its mobile banking app or its vast network of banking correspondents, Fino Bank ensures that customers can access their funds anytime, anywhere. By leveraging technology to drive financial inclusion, Fino Bank is empowering millions of Indians to participate in the digital economy.
Domestic Money Transfer Details:
- Charges: Varies depending on the transaction amount and channel used.
- Limit: Typically, the maximum amount per transaction is Rs. 25,000 for basic KYC customers and up to Rs. 2 lakhs for full KYC customers.
- Other Details: Charges and limits may vary based on factors such as account type, transaction mode, and beneficiary details.
6. Spice Money
Spice Money is a leading player in the domestic remittance market, providing innovative solutions for money transfer and financial services. With its extensive network of retail touchpoints, including kirana stores, Spice Money enables customers to transfer money conveniently and securely. Through its robust technology platform and strong distribution network, Spice Money has emerged as a preferred choice for both urban and rural customers seeking reliable money transfer services.
Domestic Money Transfer Details:
- Charges: Varies depending on the transaction amount and service availed.
- Limit: Typically, the maximum amount per transaction is Rs. 25,000 for basic KYC customers and up to Rs. 1 lakh for full KYC customers.
- Other Details: Charges and limits may vary based on factors such as transaction mode, sender’s and receiver’s location, and service provider policies.
7. Paynearby
Paynearby is a fintech company that specializes in providing digital payment solutions to underserved communities in India. Through its network of micro-entrepreneurs, known as ‘Digital Pradhans,’ Paynearby enables customers to access a range of financial services, including money transfer, bill payments, and insurance. By leveraging technology to bridge the gap between traditional banking services and last-mile delivery, Paynearby is driving financial inclusion and empowering millions of Indians to participate in the digital economy.
Domestic Money Transfer Details:
- Charges: Varies depending on the transaction amount and service availed.
- Limit: Typically, the maximum amount per transaction is Rs. 25,000 for basic KYC customers and up to Rs. 1 lakh for full KYC customers.
- Other Details: Charges and limits may vary based on factors such as transaction mode, sender’s and receiver’s location, and service provider policies.
8. Bankit
Bankit is a technology-driven company that offers a range of banking and payment solutions to its customers. With its innovative platform, Bankit enables users to transfer money instantly, pay bills, recharge mobile phones, and more. Whether it’s through its mobile app or its extensive network of agents, Bankit ensures that customers can access financial services conveniently and securely. By leveraging technology to simplify banking processes and enhance customer experience, Bankit is redefining the way Indians transact in the digital age.
Domestic Money Transfer Details:
- Charges: Varies depending on the transaction amount and service availed.
- Limit: Typically, the maximum amount per transaction is Rs. 25,000 for basic KYC customers and up to Rs. 1 lakh for full KYC customers.
- Other Details: Charges and limits may vary based on factors such as transaction mode, sender’s and receiver’s location, and service provider policies.
9. Rapipay
Rapipay is a leading player in the domestic money transfer market, providing fast, secure, and convenient remittance services to its customers. With its network of business correspondents and technology-driven platform, Rapipay enables users to transfer money to any bank account in India with ease. Whether it’s sending money to family members or paying bills, Rapipay offers a range of digital payment solutions to meet the diverse needs of its customers. By focusing on innovation and customer satisfaction, Rapipay has emerged as a trusted partner for domestic remittances in India.
Domestic Money Transfer Details:
- Charges: Varies depending on the transaction amount and service availed.
- Limit: Typically, the maximum amount per transaction is Rs. 25,000 for basic KYC customers and up to Rs. 1 lakh for full KYC customers.
- Other Details: Charges and limits may vary based on factors such as transaction mode, sender’s and receiver’s location, and service provider policies.
10. Ezeepay
Ezeepay is a fintech company that specializes in providing digital payment solutions to businesses and individuals across India. With its user-friendly mobile app and web portal, Ezeepay enables users to transfer money, pay bills, and recharge mobile phones with a few simple clicks. Additionally, Ezeepay offers a range of value-added services, including insurance, ticket booking, and more, making it a comprehensive financial services platform for its customers. By leveraging technology to empower users and enhance financial inclusion, Ezeepay is driving India’s digital transformation.
Domestic Money Transfer Details:
- Charges: Varies depending on the transaction amount and service availed.
- Limit: Typically, the maximum amount per transaction is Rs. 25,000 for basic KYC customers and up to Rs. 1 lakh for full KYC customers.
- Other Details: Charges and limits may vary based on factors such as transaction mode, sender’s and receiver’s location, and service provider policies.
Register with Cashless India for affordable money transfer services. Visit the website, create an account, and download the app. Link your bank account for secure transactions and enjoy the lowest transfer charges, starting at Rs. 15 for up to Rs. 10,000. Experience reliable, cost-effective transfers and join the cashless revolution today.
Visit the website
FAQs
at services does Cashless India offer for domestic money transfers?
Cashless India provides secure and efficient domestic money transfer (DMT) services through its B2B platform, catering to retailers with comprehensive banking solutions.
How do I choose the best domestic money transfer company in India?
Consider factors like security, efficiency, affordability, customer support, and the range of services offered. Leading companies include Cashless India, NSDL Payment Banks, and Airtel Payment Bank.
Is it safe to use Cashless India for money transfers?
Yes, Cashless India prioritizes security and employs advanced encryption and authentication measures to ensure your transactions are safe and reliable.
What are the benefits of using a B2B platform like Cashless India for money transfers?
A B2B platform like Cashless India offers streamlined processes, competitive rates, comprehensive support, and integrated banking services, making it an efficient solution for retailers.
Can I transfer money to any bank account in India using Cashless India?
Yes, Cashless India enables you to transfer money to any bank account in India, providing wide coverage and convenient access for all your domestic money transfer needs.
Conclusion
Companies like Cashless India, NSDL Payment Banks, Airtel Payment Bank, and others are at the forefront of this transformation, providing secure, efficient, and affordable solutions. These top 10 domestic money transfer companies are making financial transactions more accessible and convenient for millions of Indians, fostering financial inclusion and contributing to the nation’s digital economy. As India continues to embrace cashless transactions, these companies will play a crucial role in shaping the future of the country’s financial landscape.