Money Transfer

[fromIndia]

Hi,

Whats the best and safest way to send the money to India

[prashanthbk]

Hi the best way would be open a HSBC account and then u can send money electronically to your account in India. Practically this is the best way.

[Max]

Hi,

Whats the best and safest way to send the money to India

Follow this simple procedure:

1. secure your money in a lockable bag.
2. get a plane ticket to India, take your money with you.
3. fly there. keep a close watch on it occasionally.
4. get to your destination
5. hand over the money to the recipient.



hey,...you did ask for the "best and safest way", right?

Impractical, I know.
Expensive, obviously.
Time-consuming, definitely.
Laborious, yep, sure.

other than that, you're welcome to try these:
1. http://www.westernunion.com/info/selectCountry.asp
2. http://www.moneygram.com/
3. use your own banking service to do so.

[fromIndia]

Hey Max, if someone rob me on flight then. its not the safest.. any more suggestion

[seamale]

You can send money using PayPal.

[pebble]

Max's idea, with a slight modification, could work very well. Hire a bodyguard, wrap the money in comdoms and swallow. Better still, get the bodyguard to swallow. Don't forget also that female bodyguards have extra luggage capacity. Hire a double as a decoy for added security.

Alternatively, fold notes into paper darts and launch them in the direction of India from the top of my apartment :-D I do it all the time, honest!

Now, where did I leave my butterfly net?

[mercury_element]

Open an NRI account in Citibank or ICICI or some other bank.....

[kombuchakid]

I have recently been converted to using Western Union. takes under an hour and costs $200+

Before this I used to go to SBI and get a demand draft, which takes 10-15 days by registered post. costs $80

Before that I used to go to SBI and send a wire transfer, which took a week. costs $160

Before that I used to go to HSBC, but lousy rates and long delay, about 20 days
and the fact that they were closing branches made me quit.

[In HK]

As already been suggested it is very true that transferring through HSBC is a very good option. Having an a/c with HSBC in HK as well as an NRE a/c with them in India gives you the opportunity of wire transferring the money absolutely free of charge and it takes a day or maximum two. Its better if you opt to send HKD and get them converted once its in your a/c in India and that way you'll get a better rate than changing here and sending INR.

[AJ2007]

HSBC is a bank. Do you really think they would be providing this service for free???!!!
They may call it a "free" service but it is through their lousy exchange rate that they make their money. You are not getting a good deal because they use a much worse exchange rate than you can get elsewhere.
I asked my HSBC sales representative here in the UK for the Exchange Rate that HSBC India use in doing the conversion from UK GBP to INR but so far I have had no reply. That kind of secrecy speaks volumes about the kind of lousy service 9financially spekaing) that they provide.
Get some common sense and realise that banks are here to fleece you for money - they are not here to provide value for money.