click to close
help
edit

Forums ›
Finance

Money transfer to India.. Please advice

  • filter:
  • Tell A Friend
  • Text Only
  • Search this Topic »
  • switch to 'Classic' view
  • Page :
  • 1
rated:
   posted: May. 9, 2008 @ 11:56p
alert mods    

I wish to send a "good amount" of money ("good amount" for my standards) to India. Taking into consideration the exchange rate, transfer fee etc, could I get some good advice in this forum as to
1)which bank or organization would be the best in terms of low or no transfer fees. I, know for one, SBI does it for large amounts (But their exchange rate might not be great)
2)During this period of fluctuating dollar versus rupee, is it a good tiime to exchange dollar for the rupee.
As always I rely on my fellow FWers for their valuable advice. (I have to transfer money this month). TIA

   posted: May. 9, 2008 @ 11:56p

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.


rated:
   posted: May. 10, 2008 @ 12:40a
alert mods    

Open up an NRI account with ICICI bank and you will be able to transfer money for free. I would not recommend doing wire transfer, due to silly hefty fees.

rated:
   posted: May. 10, 2008 @ 12:57a
alert mods    

m2spatel said:Open up an NRI account with ICICI bank and you will be able to transfer money for free. I would not recommend doing wire transfer, due to silly hefty fees.
I believe ICICI has restrictions on transfer to probably 15,000 a week and limited to the number of transfers. Also, their exchange rate is not good. They have a rate calculator online.

rated:
   posted: May. 10, 2008 @ 7:12a
alert mods    

StinkPot said: Try doing a generic search and you will never get it.
I searched for "India" and that link came up, so you must not have searched.
Yes, this topic comes up quite often, some examples.
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=749870
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=721181
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=703435
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=694557
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=455428
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=305679
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=546055
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=617415
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=633484
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=489032
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=691711
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=192338
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=586256
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=446513
http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=419223

/not linked for the lazy

rated:
   posted: May. 10, 2008 @ 9:30a
alert mods    

HDFC Quick remit is the best option and better rate than anybody always...

linky

rated:
   posted: May. 10, 2008 @ 11:46a
alert mods    

*deleted*

Message edited by: worth on 2008-05-10 11:47:12 CDT
rated:
   posted: May. 10, 2008 @ 2:07p
alert mods    

one word "Hawala"

rated:
   posted: May. 10, 2008 @ 11:41p
alert mods    

thechakra said:one word "Hawala"

With free flow of exchange there is no hawala.

rated:
   posted: May. 11, 2008 @ 10:30a
alert mods    

Did you encash your vacation pay first?

rated:
   posted: May. 11, 2008 @ 5:53p
alert mods    

My suggestion is to study the difference between advice and advise. Proper English will take you far.

rated:
   posted: May. 11, 2008 @ 10:09p
alert mods    

adityanm said:thechakra said:one word "Hawala"

With free flow of exchange there is no hawala.

Not if you have what they call "black money"

rated:
   posted: May. 12, 2008 @ 12:27a
alert mods    

m2spatel said:Open up an NRI account with ICICI bank and you will be able to transfer money for free.

It is not free because ICICI gives much lower exchange rate than what you can get with other banks.

rated:
   posted: May. 12, 2008 @ 7:52a
alert mods    

have you ever tried remit2india com.a timesofmoney service ? i am sure you will get better exchange rats according to current $ value.

rated:
   posted: May. 12, 2008 @ 10:40a
alert mods    

samirguru said:have you ever tried remit2india com.a timesofmoney service ? i am sure you will get better exchange rats according to current $ value.
Thanks for your valuable info. I will look into that

rated:
   posted: May. 12, 2008 @ 12:31p
alert mods    

Get a paypal debit card for the person you are sending the money to and let them withdraw from any ATM in India.
They charge you $1.00 per transaction

rated:
   posted: May. 12, 2008 @ 12:34p
alert mods    

please do not send money out of the us at this time. we are in a resession and need to hold on to all money as possible.

rated:
   posted: May. 12, 2008 @ 12:49p
alert mods    

tijkane said:Get a paypal debit card for the person you are sending the money to and let them withdraw from any ATM in India.
They charge you $1.00 per transaction
From their fine print:
** If your transaction involves a currency conversion, it will be completed at a retail foreign exchange rate determined by PayPal, which is adjusted regularly based on market conditions. This exchange rate includes a 2.5% spread above the wholesale exchange rate at which PayPal obtains foreign currency, and the spread is retained by PayPal. The specific exchange rate that applies to your multiple currency transaction will be displayed at the time of the transaction.

rated:
   posted: May. 28, 2008 @ 6:30a
alert mods    

StinkPot said:I wish to send a "good amount" of money ("good amount" for my standards) to India. Taking into consideration the exchange rate, transfer fee etc, could I get some good advice in this forum as to
1)which bank or organization would be the best in terms of low or no transfer fees. I, know for one, SBI does it for large amounts (But their exchange rate might not be great)
2)During this period of fluctuating dollar versus rupee, is it a good tiime to exchange dollar for the rupee.
As always I rely on my fellow FWers for their valuable advice. (I have to transfer money this month). TIA
Try remit2india online money transfer service which gives best exchange rates than any other online service offers also you can track your money online and transfer fees is also reasonable according to my experience of 14 transactions i am much satisfy by their customer support. some of my fellows are using other online transfer services which offers zero transfer fees first and after collect it as a tax ! i hope this will help you a lot after all its your hard earned money.

Here is a link for ease: www.remit2india.com

rated:
   posted: May. 31, 2008 @ 6:35p
alert mods    

bulletguy said:StinkPot said:I wish to send a "good amount" of money ("good amount" for my standards) to India. Taking into consideration the exchange rate, transfer fee etc, could I get some good advice in this forum as to
1)which bank or organization would be the best in terms of low or no transfer fees. I, know for one, SBI does it for large amounts (But their exchange rate might not be great)
2)During this period of fluctuating dollar versus rupee, is it a good tiime to exchange dollar for the rupee.
As always I rely on my fellow FWers for their valuable advice. (I have to transfer money this month). TIA
Try remit2india online money transfer service which gives best exchange rates than any other online service offers also you can track your money online and transfer fees is also reasonable according to my experience of 14 transactions i am much satisfy by their customer support. some of my fellows are using other online transfer services which offers zero transfer fees first and after collect it as a tax ! i hope this will help you a lot after all its your hard earned money.

Here is a link for ease: www.remit2india.com
Thanks a lot! I am happy I asked for help and came to know of remit2india (also from a preious Fwer in this thread. Ever since I am following up on their website and track their rates. Far superior to SBI. However, I thought there was no fees. I wrote to their customer service and they wrote back it was approximate Rs 114. Could that be right?

 Close

Sign Me In
Nickname: 
Password: 
Remember My Login Information:

Forget your login information?

Not Already A Member?
Sign Up Now!


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.