Money Transfer to India
Dec 17, 2007 | 4:54 am
#1
Original Poster
Join Date: Nov 2007
Programs: AA-PLAT, HH-GOLD, UA
Posts: 43
Money Transfer to India
This may not be the exact forum for this question, but I figured since it is related to travel and there seem to be quiet a few knowledgable folks here, I'd ask the question
I currently live in the US and am looking to transfer $$ to India to buy a property. What is the best way to do this. Here are the few things I am looking at:
a. Good exchange rate
b. Decent customer service
c. Ability to covert unused Rupees into $$
I have heard about CITI NRI, ICICI and SBI. Can someone tell me what is the best thing to do? I am travelling to India in 3 weeks
I currently live in the US and am looking to transfer $$ to India to buy a property. What is the best way to do this. Here are the few things I am looking at:
a. Good exchange rate
b. Decent customer service
c. Ability to covert unused Rupees into $$
I have heard about CITI NRI, ICICI and SBI. Can someone tell me what is the best thing to do? I am travelling to India in 3 weeks
Dec 17, 2007 | 5:46 pm
#2
Join Date: Mar 2006
Location: London, UK
Posts: 150
I haven't had any gripes abt remit2india.com, used them extensively last yr. I think you can send $5k or less in each transfer w/out any paperwork. But given that you're buying property in India I'm guessing you're talking abt some substantial dough - I think you're looking at something like a citi nri account.
Dec 18, 2007 | 2:22 pm
#3
Original Poster
Join Date: Nov 2007
Programs: AA-PLAT, HH-GOLD, UA
Posts: 43
OK. After some serious research, I found out the best way. Open a CITI NRE account in your name, and then use Remit2India to transfer money from your US account to your CITI NRE account in India. On R2I's website it says you can only transfer upto 5K on ACH, but I called R2I's customer service and they said there is no limit even on ACH.
On large amounts (over $10K) you can get a better rate with CITI if you talk to the CITI NRI banker in any CITI NRI US branch. But Remit2India rates are even better.
Today's rate comparison for large amounts:
CITI NRI (using banker): 39.10 (no service charge)
Remit2India (using NRE-ACH no limit): 39.42 (Rs 99 service charge per transaction)
Hope this helps others
On large amounts (over $10K) you can get a better rate with CITI if you talk to the CITI NRI banker in any CITI NRI US branch. But Remit2India rates are even better.
Today's rate comparison for large amounts:
CITI NRI (using banker): 39.10 (no service charge)
Remit2India (using NRE-ACH no limit): 39.42 (Rs 99 service charge per transaction)
Hope this helps others
Dec 19, 2007 | 7:42 am
#4
Join Date: Sep 2005
Location: BOM-WAW-EWR
Programs: UA*G (1K again), Sixt Plat, AC*G, LH FTL, AI*G *was*: SQ QPP01 & SK EBS/EBG, LH SEN, AA EXP, 9wPlat
Posts: 8,751
In our experience, HSBC gives the best TT rates in India - Citibank usually nails people/businesses with heavy fees....just FWIW...
Dec 24, 2007 | 9:10 am
#5
Join Date: Nov 2000
Location: BOS
Posts: 254
SBI has the best transfer rates but they are slowww.. They take about 3 business days more than the rest, so its upto you whether you can wait that long.
http://www.onlinesbi.com/gls
Remit2India is the best combination for fast and good transfer rates..I will be happy to refer you if you are interested. PM me. Also Remit has a rewards program called IndiRewards which gets you some goodies for transfers.
http://www.onlinesbi.com/gls
Remit2India is the best combination for fast and good transfer rates..I will be happy to refer you if you are interested. PM me. Also Remit has a rewards program called IndiRewards which gets you some goodies for transfers.
Dec 30, 2007 | 1:13 pm
#6
Original Poster
Join Date: Nov 2007
Programs: AA-PLAT, HH-GOLD, UA
Posts: 43
SBI has the best transfer rates but they are slowww.. They take about 3 business days more than the rest, so its upto you whether you can wait that long.
http://www.onlinesbi.com/gls
Remit2India is the best combination for fast and good transfer rates..I will be happy to refer you if you are interested. PM me. Also Remit has a rewards program called IndiRewards which gets you some goodies for transfers.
http://www.onlinesbi.com/gls
Remit2India is the best combination for fast and good transfer rates..I will be happy to refer you if you are interested. PM me. Also Remit has a rewards program called IndiRewards which gets you some goodies for transfers.
https://www.onlinesbi.com/glsus/exch...teusheader.htm
http://www.timesofmoney.com/remittan...partnerId=TOML