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Forum Thread

best way to send money to india

samjo 18 March 24, 2011 at 07:12 AM
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which is the best way to send money to parents in india. I use icici's money2india service but it costs me $30 (Chase) to wire money to their bank account in NY. I'm looking for good exchange rates with no fees.

thanks in advance

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Joined Oct 2007
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#2
My friend says that's how he does it, too, but "we have private agents there in India at Bank of Baroda." He asked "what part of India?" so maybe certain areas can open up some options.
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#3
I use SBI online https://remit.onlinesbi.com/.
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#4
Quote from aqua267 View Post :
I use SBI online https://remit.onlinesbi.com/.
how are SBI exchange rates compared to ICICI?? I have to send money to a small town (Guntakal) in AP
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#5
Quote from samjo View Post :
which is the best way to send money to parents in india. I use icici's money2india service but it costs me $30 (Chase) to wire money to their bank account in NY. I'm looking for good exchange rates with no fees.

thanks in advance

I have compared all the sites and i think icici gives you best rate and no fees.
I use e-transfer and I pay only Rs.25 for transactions < $10k and nothing above $10k.
You need to register your bank account with icici so they can directly withdraw money from your bank account in my case Bank of America.
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#6
Quote from Herry29 View Post :
I have compared all the sites and i think icici gives you best rate and no fees.
I use e-transfer and I pay only Rs.25 for transactions < $10k and nothing above $10k.
You need to register your bank account with icici so they can directly withdraw money from your bank account in my case Bank of America.
See this link below
Barclays Online Money Transfer
Money2India Rates
Remit2India Rates
Axis Remit Rates
Bank of Baroda Rates
HDFC QuickRemit Rates
OnlineSBI Rates
http://barclaysonlinemoneytransfe...-2009.html
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Joined Aug 2010
previously crazee_an
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#7
Quote from samjo View Post :
I use icici's money2india service but it costs me $30 (Chase) to wire money to their bank account in NY.
u should not do wire transfer... with wire transfers, it will cost u with any bank...

instead use the ACH e-transfer for any service, whether it be ICICI, HDFC or SBI... it is generally free (with sometimes a minimum transfer amount)...

hope that helps...!!!
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#8
I use the following services to compare rates
http://www.entryindia.com/exchange_rates
http://www.inrrate.com/
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#9
mail it.
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Joined Aug 2011
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#10
Quote from samjo View Post :
which is the best way to send money to parents in india. I use icici's money2india service but it costs me $30 (Chase) to wire money to their bank account in NY. I'm looking for good exchange rates with no fees.

thanks in advance
I use xoom.com & remit2india.com . let me know if you want to try and i can get a referral fee from them.
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#11
Buy an HP computer.
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#12
If the person in India has an account with ICICI Bank or HDFC Bank and you have a Wellsfargo account, you may want to look into Wellsfargo's ExpressSend.
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#13
With a relative.
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#14
Here are my thoughts --

I used to use money2india but i switched to remit2india (3-4 years ago) because i have always got better rates with remit2india. ( i have made multiple transactions of the same amount on same day to test the rates). I don't know if things changed after i made the switch. What i noticed was that on the day the money is supposed to be deposited in you account in India, icicibank gave the lowest rate of that day while remit2india gave whatever the actual rate was when they initiated the transfer . Honestly speaking i am kinda sick of waiting 7-8 days for the money to be deposited and even thought xoom offers low rates compared to others, its the fastest. So it depends, do you want money transferred immediately or 7-8 days wait is ok with u, which is still a gamble.

I have never tried SBI or any other services so can't say anything about those
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#15
Quote from MsGal View Post :
Buy an HP computer.

LMAO I came in here to post that, glad someone beat me to it!
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