Hi,

My name is Anita, I just moved to Berlin for work. I was wondering if someone can give me more information on easy Money Transfers. I tried looking up at the usual Western Union and found it expensive. Can someone suggest cheaper options??

Anita, pls dont use Western Union. They will eat your money in all fronts. If you are from india, use Money2India by ICICI or Remit2India.

If you have ICICI bank acct it takes max 3 days and in other banks it should take a week.

Western union, is good if you want to transfer money in emergency situations. its takes place the very next sec and your person can collect it in the home country. IF you have time pls use other means

regards

Hi,

I tried something new. Its called voicecash.com, through this you can send upto 1000 Euros just for 6 euros as charge!! I found this to be very economical way to transfer cash.

I have also tried this Voice cash. Seems the easiest and cheapest way! You shud try it...

@satvik,@sharma,

How long does it took for transfer (please do mention country).
If you have transferred to India, what was the transfer rate and how different was it from Money2India by ICICI or Remit2India.

Thanks

Hi,

just presenting my view point. I used for last 5 years ICICI money2india service and it worked really good. You have good customer care support over email or telephone. It is easy to use and if one uses Netexpress feature then in 3 working days, the amount is deposited in your account ( if it is icici account in india ). Negative side I found is that they have some 20 - 30 paise less rate.

Other good service is of HDFC quick remit. The customer support little bit sloppy, but you can call them on a number in USA ( if using nonoh or jumblo then costs nothing ). service is also easy to use, but take a while to get acquainted. They have better rate than ICICI money2India. Negative side is they need sometimes a soft copy of passport and residence proof to activate your account. Its better to wait till account is activated and then initiate the transfer. I had problem with first transaction. It took 2 weeks till account is activated and money getting credited in Indian account. Not so good communication.

The charges for remittance of HDFC quickremit and ICICI money2india are as follows

Service tax as per sub rule (7 of Rule 6 of the Service Tax (Amendment) Rules 2011:
- For Amount of currency exchanged up to Rs.100,000 - tax will be 0.1% of amount, or min Rs.25/-
- For Amount of currency exchanged above Rs.100,000 up to Rs.1,000,000 - tax will be Rs.100 + 0.05% of incremental amount above Rs.100,000 (Education Cess @ 3% on the amount of service tax)

So for 1000EUR say at 64.5 = 64500 Rs.
64500 x 0.001 = 64.5 Rs
3% education cess 64.5 x 0.03 = 1.935

So total charge will be 64.5 + 1.935 Rs.

Its much less than 6 EUR

Both take 3 WORKING days

What are the charges for Money2India and Remit2India??? Voice cash seems to be offering much better rates for transfer... Can I also transfer the amount in Dollars???

Yes... VoiceCash seems better ...Only 4 euros for amounts upto 500€ and 6 euros for amounts upto 1000€. You can transfer upto - 10.000 €; the rate for the maximum transfer:
If the reciepient gets INR -> 12€ fee
If the reciepient gets INR -> 18€ fee