I am planning to move back to India from US after a couple of years here now. I have saved a tiny fortune in my bank in these years and want to take that back with me. What percentage of my bank balance would be lost in transaction fees, exchange fees etc when I transfer this money to my Indian bank account?
Why move it? Use a credit card and pay the card off using USD from your current bank account. You won't lose anything.
Cc conversion rate is not so good
Chase saffire no conversion rates
Usd to btc then btc to inr
You will loose more in conversion to btc.
Use xoom n Remitly.. but please open a nre account before that and send money to nre account in India
I paid flat $30 for international transfer from First Republic bank, but it was below $10k
It’s a flat fee regardless of amount AFAIK in BOFA
awesome, thanks!
In zoom apart from the money they earn in exchange rates they don’t charge anything above 1000 dollars . There are some daily and weekly and monthly limits . To send above 10k one has to submit some other docs like ssn etc . I have been using it for last 5-8 years . But mostly within the 10k limits following the daily , weekly monthly limits without providing extra documentation’s
I had done some research on this a while back. Xoom and remitly all have a decent sized difference in spot rates. I believe Instarem has a flat 0.5% fee and then you get spot rates on the transfer. Idk if they have already started US operations but if they have I would consider them seriously. Apart from that SBI used to have decent conversion rates a few years back
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Will suggest to start sending smaller amounts using Xoom ... over a period of time .
Bigger amounts get better rates. You can negotiate with banks.
what is the approximate rate? any idea how much do you lose?