I have used XOOM s far. Totally risk free service but the exchange rate less than any one else who's in this business. I think if we get a chance to go with SBI(not available for some states in US), we can go for it. There is a diffrence of almost 50 paisa between XOOM and SBI.
I am willing to stick on to Indusfastremit. I heard they have got better exchange rate and it's a fixed one! Yet to explore on this. Any thoughts!!?
Couple of concerns:
1. Banks with indicative rates take more than 5 days settle the money. Heard that they would wait and do this at the time when it is exchange rate is less. It's pathetic if it's true.
2. Websites of most of the banks makes me feel that they are not secure. They should build simple but powerfull web application. However XOOM and Indus look good.
If you are a foreign national trying to send money to an Indian citizen in India then read on.............. I have sent money to India via western union, a company I have used many times before, but although western union claim they can do the transfer with no problem the reality is that it will NOT be paid out. The reserve bank of India, which handles these transactions will refuse to authorise it if it is a foreign national sending to an India citizen. Of course you will be able to get a full refund on your principle sum but your transfer fees are non refundable. When I explained the situation to western union and suggested that this was actually fraudulent. They say that as far as they are aware there should be no problem. However when I spoke to their helpline in India they confirmed that it actually the case that the reserve bank is now refusing to pay out these kinds of transfers. So I then spoke to the reserve bank of India and they also confirm that this is the case. It seems to me that a company like western union has a duty to its customers to be up to date with the latest information regarding the countries that they are blindly accepting payments and fees for. I have to say my faith in this company is severely damaged and I do not believe that a company that does not have information about the state of the laws of countries in which they do substantial business can be considered trustworthy or in any way reliable. As a point of information it seems the Indian citizens abroad can stillo transfer money to Indian citizens in India and foreign nationals outside India can send money to other foreign nationals within India, I cannot verify this though so beware.
They working so weirdly. they are asking for scan copy of SSN which is illigle in USA. they said your SSN is new we can't verifi it. my SSN is 2 year old and have good credit on it.
No one in usa can ask for scan copy of SSN. if you are not able to verifi it online than it's their problem.
So if they ask you for scan copy of SSN they don't give out them.
I've recently had a very bad experience with Remit2India. They have the WORST service ever. They sat on my money for a long time and at the end rejected my transaction citing non-compliance issues. This was ever after KYC details were verified. They said- they contacted my beneficiaries but when I inquired, my beneficiary said she didn't receive any such call. All the while, I was kept in the dark. DO NOT TRUST this service at all. SBI Express Remit or Xoom are the best.
Which money transfer Service offers the best exchange rate for remittance to Ind
I have to regularly send money to my home country. Many times I get disappointed while using bank services for money transfer. They don't provide timely deliverables and process is very complicated. Few times ago I started using Moneydart global money transfer services to send the money and it was amazing. it offers appropriate exchange rates and fast delivery of amount which makes my beloved ones happy. the service is hassle-free and proces of receving money is very easy.
To all those people who regulalry send money to their family i would like to suggest that instead of choosing any bank, it is better to use global money transfer services such as Moneydart which offers instant delivery as well as good exchange rates.
Cheque issued from capital one bank on dec 10
2011 to ICICI Bank in Mumbai and same is withdrawn on Dec 22 2011 by JPMorgan Chasebank may be agent of ICICI bank.
As on today Money is not credited in my Nre account inspite of repeated reminder by phone and written email to nri headbanking but no action. Even local bank Capitol one also not helping to track transcation inspite personal visit and several reminder by phone also no action.
Asking money back in filing affidavit to capitol one USA bank on Feb 14 2012 also not responding. Local bank also have lack of knowledge and process.Customer service is very poor.
I was transferring money using icicibank service money2india. From same account in usa and same account in india they did trasfer by ACH as well as wire transfer. last week 2/8/2012 i did trasfer with all same info using wire transfer but amount never transferred to my account in india. I called icicbank call center than they told me it rejected and amount will return backed but as today 2/16/2012 i have not received amount and also no information from icicibank. They are holding customer money and making amount on it. In plain view it looks few days delayed but in large picture when you see it seem to be fraud. CAREFUL DOING BUSINESS WITH FRAUD BANK - ICICIBANK.
I have been using this for a while now and this is what they do. Once you complete a transaction they will wait till the $ value drops, withdraw money from your account and then probably cash without you
knowing about it. They will use the window of 5 working days to see if the $ goes up again, if so they will deposit the indian currency to your account and no guesses, it is way less than you expected. Also sometimes they will wait more then 5 working days to earn the same. I reported this to Quickremit with multiple emails, they just dont reply because they dont have one.
Its a Ripoff, dont expect any support from them. It sucks.
I have account with almost all the services that transfer money to india and with my experience xoom is the best . They first deposit money in destination account before withdrawing from your account and you get u r money deposited in 24 hrs and though exchange rate is slightly less than others but u are sure of the amount that you send . you can receive reward of 25$ when u make u r first
I used SBI remittance and as promised it gets deposited at the 5th day . Stay away from remit2india,HDFC quick remit. I have tried all of them i find SBI to be the best. Also i dont have NRE a/c with SBI.
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