AFAIK and from my past experience, you have to pay a fee and your parents will also pay some fee. When they wired me, they paid 1500 RS back there and when I received the amount, my bank(BOA) also deducted $12 as some fee. When you pay the bank, the exchange rate is locked at that moment.So, I think western union will be the way to go. I always google promotional discount to waive the transfer fee and its faster, easy and convenient.