Money transfer to India

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high vision
Member since: Jul 12

Posts: 95
Location: Somewhere on Earth
Post ID: #PID

Posted on: 07-08-12 11:11:32

What is the best legit option to transfer money from canada to india and to get a competitive rate as well? Thank you in advance.

high vision
Member since: Jul 12

Posts: 95
Location: Somewhere on Earth
Post ID: #PID

Posted on: 07-08-12 12:12:14

What is the risk in transferring funds? They will give the rate and I will transfer it. What I would like to know is getting a better rate. I know everyone will charge a bit of charges to transfer funds.

That's why I wrote "best legit option" as I do not want to use hawala options.

Ash20
Member since: Apr 06

Posts: 443
Location:
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Posted on: 07-08-12 16:24:02

If you need INR in India (not CAD/USD for FCNR) then I will suggest you to convert CAD to INR here in Canada with any Indo-Canadian Bank (ICICI/SBI). If amount is larger than 10K then you can negotiate the rates with them (around 25-50 paisa/$). You will get better exchange rates here in Canada. More than likely banks won't charge you any transfer fees too (or may like $10).

You will know what you will get in INR in advance.

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