Hi,

I would to have some information on transferring money to India without paying huge commision.

Could someone tell me the good bank in Germany which has a network with Indian banks like Icici, hdfc.

Thanks in advance

if you have citibank at both sides then its absolutley free of cost. better if you have kind of euro account also in home country.


regards
Tahmas

The banks do tell that it is free, but they decide the conversion rate which is normally less than the rate that is going on in the market by atleast 15 paise per euro..Inshort nothing is free..

Regards.

i observed that citibank gives less exchange rates than other banks.If its a big amount that u r transferring than u might loose money.

try using www.timesofmoney.com service.Its simple, u have to transfer ur money to an account here in germany & then instruct them to transfer it to ur accounts in india.Also u can ask them to make a draft.

If you have a account in ICICI Bank in India, then they have tied up with Deutsche Bank & JP Morgan bank in Frankfurt in Germany.

You have to make a Überweisung to ICICI bank´s account in these banks & Überweisung to any bank within germany is free of cost.

Also If you have online banking facility of ICICI Bank then you can avail the facility of money2india
in this facility you can track your remittance & money is remitted within 1-2 working days to your account in India.

Cheers

Also SBI has a branch office in Frankfurt.

Hi all

ICICI have the facility which is free of cost if u transfer money to ICICI bank account in India..

Just logon to the following site:

www.Money2india.com

Its very reliable and they offer good rate..

try getting a euro account in citibank in india also. then it will cost nothing...you will get euros in india and get it exchanged in open market. and citibank ti citibnak transfers are worldwide free of charge.

I always send money to pakistan this way and do not pay even a single cent extra.

regards
Tahmas

Hallo,
I have a question regarding the money transfer thru Money2India via ICICI bank. If I make a transfer to the German bank in which ICICI has an account then how can I show the Living support to my Parents for Income tax purpose, as the Transfer receipt does not show the parents name on it or there is some way to do it? A detailed procedure of transfer would be helpful.

Thanks in advance.

regards
Peacy

To Peacy:

i)Keep the money transfer information(to which acc. Nr, - U transfer your money). This info you get it from ur 'Kontoauszug'

ii)Ask ur dad to send his yearly transaction info(If ur dad, ask the bank, immediately bank will give on a computer sheet). This transaction paper contain ur dad acc.nr

iii)Now u can have i) & ii) having ur dad account Nr and the ii) has ur dad name.

iv)The money supporting form, - has your dad name and ur village office signature.


v)Produce this to Finansamt


If have doubt, contact, jpjroni@yahoo.com

Anbudan

Hi!
Some suggestion!!
Try with post bank.
If you have 1,250 euro come to account every month
you will get the accound for free and possible to get 2 awards ticket now and possible to do 1 year free visa card.

With this account it offer to do money transfer upto 12500 euros with 10 euros charges by telephone banking
or upto 12500 euro with 1.5 euro charges from postbank plus the bank recieving charge on you or on the your receiver depend on your decision mostly 5,50 euro for the big bank. Then you probably pay charge for 1.5 euro or 6.5 euro for each transfer...

I tried offen. It 's work!!

But if you have more than 12500 euro you can transfer to me for free,.
Thank
Iced dragon

Hallo,

@Anbudan

Thanks for the info. I will try to send this way in the next year. Usually the money support form and other stuff I am using since last 3 years.

@Iced Dragon

Thanks but I am already using Postbank Giro Konto to transfer money to India and they charge Eur 1,50 (+ Eur 10,00 Overseas Bank Charges for transfer upto Eur 10000). The advantage is the Kontoauzug is in directly name of the father and he gets money within 5-8 working days.
Rest you can transfer your Extra money evenif it is less than Eur 12500 for free and I will give you 5% extra on it ;-).

Have a nice day.
Peacy