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Thread: I want to transfer money from USA to INDIA.

  1. #1

    Join Date
    Nov 2008
    I am currently working overseas. If I want to transfer my money from overseas to my Indian residential account what do you think is the most convenient way of remitting money?

  2. #2
    Senior Member
    Join Date
    Apr 2009
    Hi Michelle,

    You can use Western Union money transfer on Adhoc basis or open a Bank account either with ICICI or State Bank of India in the US and you can transfer funds through net banking. Where are you placed in the US. My brother is in Baltimore for the last few years and he has an ICICI account and he operates the same way to transfer funds to Bangalore. If you want I can put him through to you and you can get first hand updates.

    Sanjay ( Help always at hand ) ;-)

    Michelle bhat wrote:

    > I am currently working overseas. If I want to transfer my money from overseas to my Indian residential account what do you think is the most convenient way of remitting money?

  3. #3
    New Member
    Join Date
    May 2009
    Paypal can be a option
    Or if u have ICICI bank a/c than that is the best way bcoz they charge very less amt for funds transfer

  4. #4

    Join Date
    Jul 2008
    Hi Michelle Bhat,

    If you would like to have a Bank AC in india,we can help you getting one for your transactions.we charge 2k for this service apart from the minimum balance to open the account.Plz write to us at [email]mrk.global@yahoo.co.in[/email] for more details


  5. #5
    Senior Member
    Join Date
    Jan 2008
    I found Paypal is the right option to transfer your money easily to your personal account.

  6. #6
    Senior Member
    Join Date
    Mar 2011

    Thumbs up

    Hi mr. bhat,

    I’ve found some information in some other websites which talks about money transfer , I took this below information in a website which I like to share with you,

    • Cheques / Demand Drafts – A cheque or demand draft is the simplest method, though it is slowly decreasing in popularity, mainly because it might take weeks to get the instruments cleared. Some banks, like SBI, make this process easier by offering to make cheques /DD in Indian rupees.
    • Wire Transfer / Telegraphic Transfer – This is perhaps the most popular and the fastest way to transfer foreign exchange to India. The funds become available almost immediately in the recipients’ account. This service is offered by all the major banks in India and abroad.
    • Western Union / Money gram – These are specialized money transfer services, and they are gradually increasing in popularity. They have a large network of agents, and the process is usually easy and painless.
    • Banks – Almost all the major banks, both private sector and public sector, offer a number of very specialized services for remittances. You can contact your bank for more details. The major players in this segment are SBI, HDFC Bank, ICICI Bank and Citibank.
    • Online Portals – Paypal and Remit2India are the major players. While Paypal is usually favored by freelancers who render services to foreign based clients, Remit2India is the favored method of NRIs who want to transfer foreign exchange with minimum hassles.
    • Prepaid Cards – This method is also slowly gaining ground, especially among the freelancing community. In this, the recipient is issued a prepaid card by a third party (e.g., Payoneer), which is credited by the employer or the person who is remitting the money. The recipient can then use the card to withdraw money from the nearest ATM.
    • Others – There are various other options such as Xoom, iKobo and Moneybookers which are available, and can be used as per the convenience of the parties involved.

    hope this would be helpful for you

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