How I manage multiple money transfer(remittance) accounts to send money to India USD to INR

Updated on: 2019-10-15 - 5 mins read

Everyday thousands of people transfer money to India from USA (USD to INR), I am one of them. I send money to India from USA (USD to INR) twice a month. I have total five accounts with different money transfer service providers.

When you use only one account to send money to India (Overseas), it’s very easy to manage. All of them provides dashboard to keep eye on the transactions. however, having only one account comes with drawback of not getting benefits of best exchange rate among others. To get better exchange rate, we open account with multiple money transfer service providers. Nothing is wrong in that!!

I use to compare daily exchange rates before I send money to India (USD to INR).

It becomes clumsy and hard to manage when it comes to multiple accounts. But don’t worry, I explain my solution here.

  • Create a new excel file
  • There are two approaches here

Make separate sheet for each money transfer service provider

Make separate columns

Generally, the most we care about
  • Name (To whom you want to send money)
  • Account number or ending digits
  • Transfer Date
  • Bank name
  • Sending Amount
  • Exchange Rate
  • Receivable Amount

So, to commensurate our needs, I have added all the required columns in the excel file. First image has separate sheets names for money transfer service provider. While, another Image has extra column to manage the remittance provider.


Easy to keep track of
  • Total amount sent
  • Total amount Received
  • Overall average exchange rate
  • Sort or filter the data as per our need

Now it’s easy to check how much amount you sent to whom, in which account, using which platform.If you are an excel expert, you can visualize it as a graph as well

As an example, I have plotted two graphs
  1. Percentage of amount received in Bank
  2. Total amount received by Person