Hi guys, what is the best way to transfer 150K from Chase bank to HDFC NRE account? Is International wire transfer my best bet or there are other ways? Remitly, Xoom etc has limits per year. #finance
Did this app turn into a Indian support group?
Way too many intellectuals here from every industry What’s the harm in asking for some free advice?
Nothing wrong with the question itself. Weird place to ask it though. I am worried real professional career topics are being crowded out by the non stop India questions.
Use XE, it has best rates. You do wire transfer do XE beyond 30k USD/month XE will transfer to NRO acc in INR
Hawala is ok for?
I've had great experience with Remitly for larger amounts too. You have to get passed the identity verification steps though.
It’s 30K per month
If you're concerned that the amount is high then don't worry about it, it's not. What is most important is you find the best rate and fee combination. So compare the Remitly rate + fee to Wise to whatever your bank will charge you (if you're a private client then there's no fees but still the spread).
How did you transfer money?
Personal Finance
8h
945
Thank you AAPL and NVDA
Tech Industry
16h
604
What is the minimum number of years you should spend at a company so that it doesn’t look bad?
India
14h
587
'Hindutva': The Radical Hindu Ideology That Seeks to 'Push Christianity Out of India’
World Conflicts
13h
510
Israeli precision-guided munition likely killed group of children playing foosball in Gaza, weapons experts say
World Conflicts
11h
450
Is "From the River to the Sea" So Wrong?
Wire transfer is best imo, usually takes a day or two. Other services will have limits and extra headaches/paperwork for large amounts.
Will I be taxed in India and do I need to declare via some form sending this large amount?
Yes, I think so. Best to consult a chartered accountant. If you don't have an Indian CA for consultation, you ideally should. Lemme know if you need one, can share a contact.