Transfering Money from India

amitgu · Post by **amitgu** » Sun Jul 01, 2007 9:16 am

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

Vinni · Post by **Vinni** » Tue Jul 03, 2007 9:51 pm

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

Thanks!

sohu · Post by **sohu** » Wed Jul 04, 2007 8:59 am

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.

hetal18 · Post by **hetal18** » Tue Jul 10, 2007 7:20 pm

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

dbs · Post by **dbs** » Thu Jul 12, 2007 12:53 am

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 · Post by **MadMax** » Thu Jul 12, 2007 12:59 am

hetal18;33178money2india.com shows links to inward and outward remittance. I think that should work![/quote]

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

MadMax · Post by **MadMax** » Thu Jul 12, 2007 1:05 am

dbs;33454I 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.[/quote]

That's very informative. Do you know if there any check cards available that'll work internationally? Also, what kind of credit limit do they usually give in India?

hetal18 · Post by **hetal18** » Thu Jul 12, 2007 1:55 am

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!

dbs · Post by **dbs** » Thu Jul 12, 2007 2:15 am

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.