I am on H1B visa, is there any limit how much we can send it to India. 1) for NRE/NRO account. 2) for someone’s personal bank account. I am using standard money transfer process like XOOM and Remitly. This is for family emergency, please try to provide correct information.
If you use citi remittance (linked to your US account) on citinri, I think the limit is $30K. But if you call citinri toll free number, they might work something out. Good luck!
Use TransferWise. There is no limit on transfers to yourself under US law, although there may be with some services. You may need to tell the IRS if you send over 10k.
Wire transfers can be used for substantially high amounts but keep in mind that they are slower compared to money transfer services like Xoom. I have sent up to $50K in a single wire transfer and it took about 5days for the money to arrive in my NRE account in India.
Thank you everyone, Seems like I should be fine as long as I report these transactions with tax filing.
You are fine. Xoom has to comply with the laws on both ends of the transaction. They have to implement any government imposed limitations.
Check transferwise.com they may give you a better exchange rate along with a transfer then your domestic bank
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Can do upto 25k in xoom, standard is 10k, you may have to call them for a limit increase, can be done in 2 minuets. No limit on receiving account