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Transfer money from India to UK

Posted: Tue Sep 14, 2010 10:16 am
by easygirl_id
Hi,

Can someone suggest how could I transfer my money from India to UK with best rate and without much hassle.

Posted: Thu Sep 16, 2010 11:49 am
by geriatrix
If you need the best rates, banks are your best bet. Enquire about international telegraphic transfer / wire transfer / swift transfer / outward foreign currency remittance in any bank where you hold an account. (e.g. ICICI, HDFC).

If you need minimal hassle and okay with lower rates, use reputed money transfer agencies. e.g. - Western Union.


regards

Posted: Thu Sep 16, 2010 2:38 pm
by wunder
Banks are not the best option - as they usually have very unfavourable exchange rates. Something like XE would be much better choice.

Posted: Sun Sep 19, 2010 7:22 pm
by kenfrapin
Hope you know that while its easy to transfer from the UK to India by just being online, its really difficult the other way round.

Transferring legally can only be done through banks but given the low conversion rates and charges it makes no sense at all. Many who need cash actually ask friends to transfer locally within the UK and transfer the amount in Rs in India - I know this is difficult but a lot better than going through banks.

Not very sure about Western Union but I do know they allow you to do the transfer. There are a million of WU shops all over India so might be easy to get someone to just pop over and ask them

Wunder - how can one transfer Rs from India to the UK via XE? I dont know much about XE other than using it for conversion rates. I have some spare cash back home that I would love to get here :D

KP

Posted: Wed Dec 22, 2010 5:49 pm
by light_tunnel
You can opt for a travel card which is quite hassle free. The only requirement is you need to preload the card and carry with you. On deficit of funds you can ask somebody back home to top up the card.

Cheers,
Light

Re: Transfer money from India to UK

Posted: Wed Dec 22, 2010 6:08 pm
by chinagef
easygirl_id wrote:Hi,

Can someone suggest how could I transfer my money from India to UK with best rate and without much hassle.
Just as a side topic, you may wish to be aware of potential money laundering laws if you intend to transfer large amounts of money from one country to the other.