Forex conversion costs typically come from two sources: the FX rate markup (the spread over the interbank rate) and transfer/wire fees. The first step is often the simplest—negotiate with your bank. Many banks are willing to reduce their FX markup meaningfully, especially for larger ticket sizes or if you have a broader relationship with them. Even after negotiation, however, bank spreads may still be higher than specialised online platforms.

A second option is to use regulated, low-cost international transfer platforms that often offer tighter FX rates. These can be reliable, but it’s important to do basic due diligence—ensure the platform is well-known, regulated in your jurisdiction, and has strong user trust. It’s also prudent to start with a smaller test transfer before moving larger amounts, especially if you are using the platform for the first time.

Finally, for investors outside India, Singapore, and Hong Kong seeking to transfer funds to Kristal, an additional approach is to transfer in certain supported currencies (such as USD, GBP, EUR, or AUD) and allow the conversion to happen at the receiving end (i.e. Kristal's DBS Client Account), which may sometimes result in a lower effective markup. Kristal indicates a FX markups of around ~0.2%, though this can vary over time and by currency pair.

Overall, while it’s sensible to reduce transfer costs, it’s equally important not to compromise on security, operational ease, and reliability—a small premium can be worth paying if it reduces execution or compliance risk.