Sending money with Icici Money 2India vs SBI online Remit ?

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Bingo
Member since: Jan 07

Posts: 198
Location:
Post ID: #PID

Posted on: 16-08-15 08:28:45

Which one to go with for good rates and less hastles ?

Blue_Peafowl
Member since: Dec 08

Posts: 1351
Location: Brampton, Ont, Canada
Post ID: #PID

Posted on: 17-08-15 12:55:16

mcg7 - on lighter note - u should have islamic bank account open - no interest charge

its not complicated: just call Icici and they will explain you .

NRI/NRO : account has been discussed already on this forum , just search in on charcha...

BTW: i got no clue since i don't have any of them

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Fido
Member since: Aug 06

Posts: 5286
Location: Canada
Post ID: #PID

Posted on: 17-08-15 15:30:15

Naam aur pataa bhejo , tumhare bhee khaata khulwaa dete hain

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Fido.

Barangas
Member since: Jul 11

Posts: 12
Location: Metro Vancouver
Post ID: #PID

Posted on: 18-08-15 13:46:06

NRE (Non Resident External) is only for NRIs. Interest is NOT taxable in India. Capital as well as Interest can be taken out of India. Capital deposited has to come as foreign currency, can be converted into Rs. when deposited.

NRO (Non Resident Ordinary) accounts are strictly for Rs. credits and transactions. Interest is taxable in India and withheld by bank.

NRIs cannot have regular savings account in India. On becoming NRI, this account has to be converted into NRO. However banks do not follow this up strictly and hence no damage in case you have not converted it yet. But better to do so at the very first opportunity.

Hope this helps.

Barangas
Member since: Jul 11

Posts: 12
Location: Metro Vancouver
Post ID: #PID

Posted on: 18-08-15 13:47:27

- deleted -

rajcanada
Member since: Jul 03

Posts: 2713
Location: Kitchener, ON
Post ID: #PID

Posted on: 18-08-15 14:55:05

Money2India is ICICI Bank's money transfer website. You can link your regular bank account or send a cheque to them and then money can be sent to any account in India.

From SBI Canada account and also using ICICI Canada's HiSave account, you can send money to India.

This has nothing to do with NRE/NRO account, which has to be opened in India and both of them are maintained in Indian rupees.

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Barangas
Member since: Jul 11

Posts: 12
Location: Metro Vancouver
Post ID: #PID

Posted on: 18-08-15 15:01:44

*************
This has nothing to do with NRE/NRO account, which has to be opened in India and both of them are maintained in Indian rupees.
*************

NRE Account can be tied to FCNR [Foreign Currency Non Resident] deposits. NRO Account is strictly for Rs. handling.

Contributors: Barangas(4) mcg7(4) Bingo(2) Fido(1) rajcanada(1) Blue_Peafowl(1)

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