Jersey #10 Posted September 6, 2015 Posted September 6, 2015 Hey guys, What's the best way to send money to India? I'm looking to transfer $225, or the equivalent to INR15,000. I've never done this before. I saw that westernunion eats up almost a rupee off of the exchange rate. Is this normal? Are there taxes and fees on top of this? Are there better ways to send money? maybe higher rates? I'm fine if it takes about 4-6 days - no more though. According to compareremit.com, transferwise.com has the highest rates. Does anyone have experience with this site?
Forever Indian Posted September 6, 2015 Posted September 6, 2015 Hey guys, What's the best way to send money to India? I'm looking to transfer $225, or the equivalent to INR15,000. I've never done this before. I saw that westernunion eats up almost a rupee off of the exchange rate. Is this normal? Are there taxes and fees on top of this? Are there better ways to send money? maybe higher rates? I'm fine if it takes about 4-6 days - no more though. According to compareremit.com, transferwise.com has the highest rates. Does anyone have experience with this site? I have used transferwise and they provide the best rates. I also use azimo.com and worldremit.com which have decent rates as well.
RohitSharma264 Posted September 6, 2015 Posted September 6, 2015 My brother who lives in Australia always use Western Union to transfer dollars. Its very convenient, WU caters to every nook and corner of India. I show my ID card and collect money. He sends photo of WU receipt on Whatsapp.
Raghav_12 Posted September 6, 2015 Posted September 6, 2015 I have used transferwise recently to transfer money from Europe to india. Found them good.
Jersey #10 Posted September 6, 2015 Author Posted September 6, 2015 Thanks for the responses guys. I used transferwise.com Today's rate was 66.69 and they gave me 66.67. WU was at 6.13 and Xoom at 66.00 at the time. Apparently the funds haven't cleared from my bank in the USA. It's been several hours now. I put in the correct routing and account numbers. Is this normal?
moniker Posted September 7, 2015 Posted September 7, 2015 Transferwise usually takes 2-3 working days for me. Surely you wouldn't be getting any funds cleared from your bank on a Sunday.
Texan Posted September 7, 2015 Posted September 7, 2015 Thanks for the responses guys. I used transferwise.com Today's rate was 66.69 and they gave me 66.67. WU was at 6.13 and Xoom at 66.00 at the time. Apparently the funds haven't cleared from my bank in the USA. It's been several hours now. I put in the correct routing and account numbers. Is this normal? Western Union transfers are within minutes for me most of the time. I am a little weary about using some other services offering better rates like Transfast because apparently Transfast asks for your SSN and many other personal details you may not want to share and they have no business knowing. I found Western Union to be quick and easy and offering competitive rates.
Texan Posted September 7, 2015 Posted September 7, 2015 For those using Transferwise, do they ask for needless details like SSN?
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