Transfer amount when in india

vasu123 · Post by **vasu123** » Sat Apr 13, 2019 5:42 am

My friend got stuck in india due to work visa problems. He can not come to usa. He worked in USA almost 10 years on work visa. He has all his savings in USA. Can he transfer his money from his usa bank account to indian bank account without physical presence in usa. He said bank may ask physical presence if he use online wire transfer for big amount. He can use online remittance services but they have limit on transfer amount. He said he needs to transfer around 200k. He ha chase account and sbi in india. Please suggest best options.

plansup · Post by **plansup** » Sat Apr 13, 2019 6:44 am

I have transferred over 200K from online savings account to brokerage account over the internet. Also xoom has limit of 50K for outward remittances, so he can make 4-5 transfers.

vasu123;690736My friend stuck in india due to work visa problems. He worked in USA almost 10 years on work visa. He has all his savings in USA. Can he transfer his money from his usa bank account to indian bank account without physical presence in usa. He said bank may ask physical presence if he use online wire transfer for big amount. He can use online remittance services but they have limit on transfer amount. He said he needs to transfer around 200k. Please suggest best options.

vasu123 · Post by **vasu123** » Sat Apr 13, 2019 6:52 am

plansup;690740I have transferred over 200K from online savings account to brokerage account over the internet. Also xoom has limit of 50K for outward remittances, so he can make 4-5 transfers.

Did you transfer 200k from usa bank account to usa brokerage account while you were in india?

I will tell him about xoom 50k limit. He is asking all friends about best options to avoid issues if he stuck with bank wire transfer since he is in india and he can not come if bank asks physical presence. He said he never used wire transfer. He has chase account in usa and sbi account in india.

sjc2pnq · Post by **sjc2pnq** » Sat Apr 13, 2019 12:08 pm

vasu123;690741Did you transfer 200k from usa bank account to usa brokerage account while you were in india?

I will tell him about xoom 50k limit. He is asking all friends about best options to avoid issues if he stuck with bank wire transfer since he is in india and he can not come if bank asks physical presence. He said he never used wire transfer. He has chase account in usa and sbi account in india.

Another option is transferwise. The limit is lower but he can do multiple transfers.

At least for Wells Fargo, wire transfer (intl) of large amounts need physical verification.

techynt · Post by **techynt** » Sat Apr 13, 2019 1:57 pm

Best way would be to deposit a check to his Indian account. In the comment/note section he can write transfer to self.

He can get in touch with customer service if needed to let them know that he has written check to himself to transfer funds to his Indian account.

I am hoping he does not need money in a day or two and can wait for couple of weeks for check to clear.

vasu123 · Post by **vasu123** » Sat Apr 13, 2019 5:51 pm

techynt;690745Best way would be to deposit a check to his Indian account. In the comment/note section he can write transfer to self.

He can get in touch with customer service if needed to let them know that he has written check to himself to transfer funds to his Indian account.

I am hoping he does not need money in a day or two and can wait for couple of weeks for check to clear.

he can wait a month or so but he does not want to get his money stuck while attempting these things. If he takes his chase bank check to sbi and write amount in dollars, would they start process. Does sbi allow dollars check from usa ( is it regular check book that we use in usa or any seperate international related check).

Also as other member said, Xoom is also a option to do multiple transfers slowly in 4-5 months.

techynt · Post by **techynt** » Sat Apr 13, 2019 9:20 pm

vasu123;690749he can wait a month or so but he does not want to get his money stuck while attempting these things. If he takes his chase bank check to sbi and write amount in dollars, would they start process. Does sbi allow dollars check from usa ( is it regular check book that we use in usa or any seperate international related check).

Also as other member said, Xoom is also a option to do multiple transfers slowly in 4-5 months.

I have used regular check to deposit amount in NRE and resident account many times in past.

vasu123 · Post by **vasu123** » Sat Apr 13, 2019 9:51 pm

techynt;690753I have used regular check to deposit amount in NRE and resident account many times in past.

ok Thank you sir. If you don’t mind what was your usa bank name and india bank name.

shriji · Post by **shriji** » Sat Apr 13, 2019 10:41 pm

vasu123;690749 Does sbi allow dollars check from usa ( is it regular check book that we use in usa or any seperate international related check).

Yes most big Indian banks will accept US checks from any US bank. It is slightly faster if the Indian bank branch has a forex department (I dont think it is a requirement to have one). It takes 1 to 3 months to get the money. They will send the check to US Bank for validation and funds transfer. The exchange rate is determined on day the funds are transferred and not the day the check is accepted.

dbs · Post by **dbs** » Sat Apr 13, 2019 10:41 pm

techynt;690745Best way would be to deposit a check to his Indian account. In the comment/note section he can write transfer to self.

He can get in touch with customer service if needed to let them know that he has written check to himself to transfer funds to his Indian account.

I am hoping he does not need money in a day or two and can wait for couple of weeks for check to clear.

Long time back. I had just deposited into my account a cheque from a third party. I got the money in my account after a month or so. But that was several years back. Now it should be quicker.