r2i forum

Hi,

I need to transfer money from India to US. Can someone tell the best way of doing it? Can someone tell if anyone has done it?

Any advice or pointers are appreciated.

Thanks
Amit

please let me know if you found a way of doing it ?

Thanks!

It depends on the amount of money to be transfered, source of that money in India, the purpose for which one wants to transfer, etc.

Examples:

- Indians can take forex out of country while traveling to other countries. There is probably a limit on the amount of forex.

- You can get forex for higher education after admission to a foreign university.

- You can repatriate money that was bought in as investment in to India (terms and conditions apply).

- Certain credit cards issued in India allow foreign-currency transactions. You can pay them in rupees and buy the goods in $$.

- Government has relaxed the rules for investment in foreign equity markets for Indian residents.

All of the above are legal ways. There are probably other ways that I do not recommend for money transfer out of India.

money2india.com shows links to inward and outward remittance. I think that should work!

I have citibank and ICICI credit cards, obtained without reference to being an ex-NRI and both are valid outside India. I guess, if I have a lot of transactions with big amounts, I may be called by RBI to explain.

These are settled in rupees in India.

MadMax;33455I don't see this anywhere. Could you please post a link.

Uh...Yeah...It would be www.money2india.com and it redirects you to some icici website. There is a link called "Money Transfer" just above Shah Rukh Khan's photo!

I shall have to check when I return to India, next week; the amounts are something like Rs. 200/300K.
I do not think, there is a concept of a cheque card in India. Debit cards do exist.