Payments to india

Arjy

I've approached a few banks, and they're all very vague about how long a wire transfer would take, ranging from the standard two days response to the lovely 'WE CAN'T GUARENTEE ANYTHING'.

I've thought about Western Union and a few other money transfer ways, but the costing is ridiculous. Would work out cheaper getting a flight out there!

GiraffeMan

That sounds the bomb

http://www2.postoffice.co.uk/finance/making-payments/post-office-international-payments?cmp=google_highvolume&kw=foreign+payments+Broad&RMGPOPPC=post+office+-+overseas+money+transfer&campaignid=PPC_OMT

Arjy

Yes but will the Post Office send the money quickly?

I was originally with Nationwide, and apparently as they have no banks in India, they have to send the money though an intramidant agent before the money is transferred to my grandfathers bank.

I assume that will be the same with the post office. Although that is a great offer.

Arjy

And do i convert the money to begin with, or let the bank who recieves the money do the exchange? Will the effect the time it takes to arrive?

GiraffeMan

I would imagine they'd book a rate for you, given this little snippet from there website. The rate may be a bit lower, its your choice as I understand it, if you send it in sterling or the currency of the country it is being received in:
Is the service completely free?

Using our service won’t cost you a penny. We guarantee no transfer charges, no commission fees and no overseas bank receiving fees. If you’re charged we’ll arrange a full refund.

GiraffeMan

They also do a cheeky moneygram effort, which is available in ten minutes (alledged time) available at your local post office

baby_frogmella

GiraffeMan wrote: »

They also do a cheeky moneygram effort, which is available in ten minutes (alledged time) available at your local post office

I have used moneygram before and yes the money does reach the recipient in minutes. For India Moneygram charge £27.99 to transfer up to £6500 and then £9.99 to transfer an additional £500.

jonesMUFCforever

Sorry to pour cold water over previous posts but India is notorious for sending international payments to.... your bank may be able to give you an idea (sterling to India 12 working days) but when its gone its gone - normally the delay is at the Indian end weeks is not unheard of .

eagleeye

Hi
You can try Punjab National Bank(PNB) international Uk to send money to india.If the account is in pnb india then it takes about 4 hours and for other banks i don't trust them. In london ,the most of indian banks have got branches.Try the one in which you have got account in India.
http://www.pnbint.com/remittance.asp

saferider

go to a uaeexchange office they have 4-5 offices in London, they have been pretty good from my experience, they promise in 3 days, but to my icici acct it reaches the next day. u will have to carry some sort of identity/proof of address and your bank statement to register yourself the first time. i think for 7k they charge 25

td_007

Arjy wrote: »

Need to send around five to seven grande to India, for my grandfathers operation (you really do appreciate the NHS when you realise how much they have to pay for operations abroad).

I've approached a few banks, and they're all very vague about how long a wire transfer would take, ranging from the standard two days response to the lovely 'WE CAN'T GUARENTEE ANYTHING'.

I've got my grandfathers account number, swift number, etc so will be going into the bank tomorrow to send the funds. Anyone else been through this? Any experiences?

My fear is that the money arrives before the schedule of his operation, next wednesday.

I've thought about Western Union and a few other money transfer ways, but the costing is ridiculous. Would work out cheaper getting a flight out there!

Use an online transfer service like Money2India (https://m2inet.icicibank.co.in/m2iNet/m2iNetLoginForm.jsp). It is provided by ICICI. You will be able to transfer funds directly to the recipient's bank account. The charges are competitive and you can choose the mode of transfer that suits you. The best thing is you do not need to visit any bank, but simply transfer the amount you want to send to India via BACS to the ICICI account in UK (like sending money to any UK bank account) and from there it gets wired to India.