The Bank Manager knows the current rules and regulations in sending your money to you in the form of Canadian Dollars.

Since the HSBC has a branch here and if you have links, in the form of an account with them, get it transferred to this branch.

Freddie.

Last time I talked to the HSBC manager in Mumbai and he suggested to change the saving acc. to an NRO account.

That time, I did not have an acc with HSBC here. Now I have an acc with Local HSBC.


Can I transfer my money to a local HSBC bank here when I am in India?

Thanks for the info

The last time I was in India, I used up most of the NRO money and what was left in that account. Which was converted without any application or the form filling and it was under $500 U.S. Anything over that they said that they can give me but in the form of a negotiable instrument such as a demand draft etc., I carried the balance over the $500 in the form of Indian Rupees, about Rs.5,000/= in total for the trip that the family will be making in the future for a start there. This only helps us in the sundry expenses and taxies. So, we hold a reserve.

It is hard to say what each branch will do. But in Major cities like Bombay and Bangalore, this has become normal routine and they will help you get most of it in FOREX for your travels. They might ask you for a travel ticket and a visa.

Freddie.

Can anyone suggest what is the maximum amount that can be brought from India to Canada (without getting into trouble with CCRA ) ??
If you hold an NRO account in India and your relatives deposit X amount on a monthly basis, is there any issues you guys can think of ?
Thanks for help.

I recently had 2 transaction of money transfered from India through ICICI Bank Canada. One was of $18000 & another was $15000 without any issues.

All you need to do is to walk in your local branch & ask for the details for international wire money transfer to your account. The teller will print out a page with the all the information including the correspondent bank details with swift code. Just check your account number then scan the page & email it to the person in India. Tell him to take that to the bank while doing the the money transfer & the bank in India will take care of everything. Nothing to get confused about it..... nothing to show to CRA or anybody if its under $100K as per ICICI bank Manager.

http://www.icicibank.com/Personal-Banking/account-deposit/Outward-Remittance/index.html" target="_blank">http://www.icicibank.com/Personal-Banking/account-deposit/Outward-Remittance/index.html</a>

This is link for the ICICI bank India outward remittance page. You will get all the details there. You can transfer through them to your HSBC or any bank account.

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i..........rock........!!!!!

Thanks irock for your valuable input.

yes it is easy if you hav Indian origin banks like ICICI or HDFC