Disclosures
Every figure, and whose figure it is
Who asserts what
| Figure | Source | Our claim |
|---|---|---|
| Your bank's rate | You type it in, from your own quote | None. It is your number and we never verify or dispute it. |
| The mid-market reference | European Central Bank daily reference rate, via frankfurter.app, shown with its publication date | Only that we reproduced it faithfully. It is a daily fix, not a live tradeable price, and the page says so. |
| The arithmetic between them | Ours | This is the only thing on the site we assert, and it is written out in full below — every step, on your own numbers. |
| SWIFT charge and correspondent deduction | Published typical ranges — ₹750–₹1,500 and $10–$25 — market-wide, not per bank | Unverified. We have not captured these from a bank ourselves, they are labelled as estimates on screen, and they are not a claim about what your bank will charge. |
| What any named bank charges | — | We make no such claim, anywhere. This is not a comparison site and there is no bank dropdown. |
The method
How the number is worked out
| Step | What we do | Example |
|---|---|---|
| 01 | Divide your rupees by the mid-market reference. What the market says the money is worth. | $11,363.64 |
| 02 | Divide the same rupees by the rate you were quoted. What you actually get. | $11,037.53 |
| 03 | Subtract. This is the cost inside the rate — the figure no advice itemises, because it is not a fee. Here it is 295 basis points, or 2.95%. | $326.11 |
| 04 | Take off the correspondent bank's deduction — taken from the dollars in flight, so it never shows on your Indian bank's advice at all. | −$17.50 → $11,020.03 |
| 05 | Add the three costs: the spread, the correspondent deduction, and your bank's own outward charge of ₹1,125. That last one is converted at mid-market, not at your bank's rate — converting it at theirs would charge you the spread twice. | $356.39 |
Two details that sound pedantic and are not. Every figure is held as whole paise and whole cents rather than as a decimal number, so nothing drifts by a fraction as it is added up; and there is exactly one rounding rule in the whole calculation, applied in one place. A tool that rounds differently in two places will show you two totals that disagree by a cent, and then you cannot trust either.
Regulatory facts we rely on
A handful of published rules shape everything the tool says. They are stated here so that if one is wrong, you can tell us which — and one of them was, which is why the first item now reads as it does.
- The cap, and what sits outside it. Up to USD 1,000,000 per financial year may be remitted from an NRO account out of capital-source balances — sale proceeds, inheritance, older savings — so a large property exit is usually several wires. Current income is outside that cap: rent, interest, dividends and pension are repatriable once the tax on them is paid. Where the cap does apply it is aggregate — a transfer to your own NRE account and a remittance abroad draw on the same annual allowance, which this page did not say until 8 August 2026. This page previously stated the cap flatly, and also stated a USD 100,000 per-transaction limit that we could not substantiate as a published rule — that figure has been removed rather than softened.
- Form A2. The application-cum-declaration an authorised dealer bank takes for a cross-border remittance under FEMA, carrying the RBI purpose code. Published guidance is that banks obtain it for cross-border remittances regardless of amount. It is separate from the tax forms, and an NRO-to-NRE transfer uses the bank's own transfer form instead, because nothing crosses a border.
- Forms 145 and 146. From 1 April 2026, under the Income-tax Act 2025, Form 145 replaced Form 15CA and Form 146 replaced Form 15CB. Form 145 is the remitter's declaration; Form 146 is the Chartered Accountant's certificate. Remittances completed before 31 March 2026 still use the old forms. A great deal of guidance online has not caught up.
- Withholding on a property sale is applied to the sale price, not to the gain, which is why a lower-deduction certificate and its timing matter more than the exchange rate does.
What we are not
Are you a money transmitter?
No. We never receive, hold, route or initiate a payment, so there is no state money transmitter licence and no FinCEN MSB registration, because neither applies. You execute the wire yourself at your own AD Category-I bank.
Are you accountants or tax advisers?
No. We do not sign returns, we do not issue opinions, and we do not hold out as accountants. We supply process, timing, price and arithmetic. Anything that needs interpreting goes to a Chartered Accountant.
Are you lawyers?
No. Nothing on this site is legal advice. Questions of interpretation go to an attorney.
What do you store about me?
Nothing. There is no database, no account, no analytics, no cookies and no email capture. The amount and rate you type never leave your browser, because the calculation runs there rather than on a server.
How do you make money, then?
The rate checker is free and always will be. We are building a paid managed service for NRI property exits, where a Chartered Accountant invoices you separately for the work only a CA can do. We do not take a share of a CA's fee — Indian professional rules prohibit it, and we would not want the incentive anyway.
Operated by EthicSend LLC · Ohio, USA · Entity #5649584. If anything on this page conflicts with what the tool shows you, the tool is what we stand behind and this page is what needs fixing — write to hello@ethicsend.com.