How to transfer money regurlarly from India to Canada????

[pranjal1989]

Hi friends,
I will be moving to Canada in December.I have few questions

1. What is the best way to transfer money from India to Canada regularly?

2. What banks can i use to transfer money from India, which can be operated there.

3. If my parents deposit money here in India at a bank which has branches there in Canada, at the time of withdrawal will i be charged with some currency exchange fees?

Please help me on that .

Thanks

 

[twentyone]

I dont know the best way but here are the few options:

1. Through a wire transfer... like you sent your college fees and GIC but its time consuming and a bit expensive.

2. Open an account with an Indian bank such as SBI, ICICI, PNB that have branches there and use their debit card. The card comes with a daily limit of atleast $500 or so (Not Sure but it wont be any less). Very nominal charges on each transaction or probably no charges, check with the bank's website.

3. The illegal route of Hawala but its risky, therefore not reccomended.

 

[sabby2612]

Hi friends,
I will be moving to Canada in December.I have few questions

1. What is the best way to transfer money from India to Canada regularly?

2. What banks can i use to transfer money from India, which can be operated there.

3. If my parents deposit money here in India at a bank which has branches there in Canada, at the time of withdrawal will i be charged with some currency exchange fees?

Please help me on that .

Thanks

Wire transfer in a Canadian account from India (TAT for TT-wire transfer is 3 days) and it comes with a wire transfer fee and Forex charges.

Second option, open an account with any Indian National bank which can issue you an international debit card. Usually every withdrawal will cost you a fee of 125 rupees plus forex charges (when the machine will dispense money, they will give you CAD at the rate of their selling price).

Cheers!

 

[sinestra]

I have opened an NRE account in SBI with the intention of transferring money to India.
Now I see that there is no way to perform an Inter Bank transfer.
I am yet to check with my bank. But I would still like to know if anyone knows how to transfer money directly to SBI NRE account.