I anticipated that there would be more rate increase in 3 days and I knew that Remit2India would take 3-4 days to transfer fund. When I evaluated the current transfer value between XOOM and Remit2India, Remit2India estimated 40paise more per $, so though on 4th day (time of fund transfer). I would get 40 paise more per $ compared to XOOM.
During these four days I was checking online rate in both XOOM and Remit2India always Remit2India estimates 35-45 paise higher rate than XOOM. But at the day of execution there was a fluctuation on $ price for 30 mins which went 30 paise down and came back 90 paise up after 30 mins. During that time XOOM offered 55.85 INR per $ But Remit2India transferred at 55.70 INR per $.
Keep in mind that 30 paise down was mid day. Start of the day and end of day were higher price. after waiting 4 days I got 15 paise less value that XOOM, where XOOM does locked-in rate transfer in 4 hrs. Only disadvantage of XOOM you can’t transfer more than 2500$ per day and 30 transaction per year. but this is good enough for an average income family I believe.
Don’t go with Remit2India which is not good for small amount transfer. Might be good for wire transfer or transfer to NRI account. People who transfer small amount to saving account can better use XOOM and especially during USA morning time.