Transferring Money to India after R2I

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PuneR2Iite2010
Posts: 4
Joined: Thu Jul 09, 2009 8:09 pm

Transferring Money to India after R2I

Post by PuneR2Iite2010 »

How can one transfer US $ from US banks to India after R2Iing? I need to keep my bank accounts open for some time due to several reasons.

I have this question because I understand that after R2I, one has to close NRE accounts. I am a little apprehensive about depositing the US bank check in an Indian bank cause clearance takes anywhere from 20-45 days. Is there a faster way to do that?
mkngtrbl
Posts: 233
Joined: Mon Nov 09, 2009 10:41 am

Transferring Money to India after R2I

Post by mkngtrbl »

You can transfer from US $ account to any account in Indian NRE, NRO or Resident Indian. I have transferred to my resident account after R2I.
gurusw
Posts: 629
Joined: Sun Jan 21, 2007 10:19 pm

Transferring Money to India after R2I

Post by gurusw »

mkngtrbl;332577You can transfer from US $ account to any account in Indian NRE, NRO or Resident Indian. I have transferred to my resident account after R2I.


Hi, are you suggesting to use services like money2india, etc to move the money? I have big sum of money to move to India after R2I. I want to move it in installments so as to even out the exchange rate fluctuations. What is the best way for me to move this money to India after R2I? I am talking about $25K installments for 3-4 times.

I saw this thread praising SBI rates:
http://www.r2iclubforums.com/forums/showthread.php/19422-How-to-transfer-money-to-India-in-one-go

However I am not sure if it's possible to use this service after R2I.

If anybody is/was in my boat, please advise.
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