Wire transfer you need to be very careful, not only there is wire fee but comparatively higher exchange rates. But if you do the same using lets say HDFC and Scotia bank or ICICI the exchange rate and wire transfer fees is less.

Hi Meghal,

Was wondering if you could share more information about the wire transfer process from a TD account.

I have a TD account in Montreal and am looking to initiate a wire transfer to an ICICI account.

So far, I have this link to work with:
http://www.icicibank.com/pfsuser/icicibank/ibank-nri/nrinewversion/money_transfer/common/wire_transfer/wiretransfer_localbank_cad.htm

Does this information seem correct?

Thanks in advance,
Ranga N


I have a brochure from HDFC bank which mentions Scotiabank as one of the institute through which money transfer can be done. And I have done wire transfers through TD. IIRC, they are cheaper than Western Union.

Quote:

---

Originally posted by idea0101

Does one know the best and safe way to transfer money to india...?

Thanks in advance

---

Use any bank service and send it officially but please DO NOT use hawala because it promotes terrorism and black money movements. Sometimes, there are chances that you will receive few fake bills (in the bundle) in India which will cause your entire funds seized by the banks or other authorities for further investigations.

Please avoid hawala, you may get few hundreds of Rs more in India but it is not worth promoting terrorist activity and black money (tax payer's hard earned money) going into swiss bank a/c.

SBI in Canada will give you good exchange rates.
If you are a good negotiator, ICICI will also negotiate the exchange rates if you are sending more than 10K.

I am not too much familiar, but as far as I know, if you use NRI/NRO service, you can officially (legally) bring the money back in the future without any additional fees/charges.

Thank you for helping our Native Country.