Best Bank Account for Inward Remittance

[WhoU]

I have HDFC salary and BOB savings account. I get RSUs and ESPPs and sell them to get money in my Indian account.

I use inward remittance quite often and HDFC is a pain with calling RM and asking them to get approval for better rates etc.

Do you guys have experience with this? Which bank gives best inward remittance rate with no manual process involved?

 

[shashankverma]

I

Intermediary bank charges around 10 dollars..depends on bank and amount.
Best rate i have seen is IDFC giving 5ps on IBR.
Worse is HDFC.
Extra charges will be 100rs processing fees and GST

Tt Buy rate of IDFC is low
I see better rates on BOB and IOB want to understand if 10$ is flat IBR for both BOB and IOB or there’s other charges as well?

 

[Vinay13]

Tt Buy rate of IDFC is low
I see better rates on BOB and IOB want to understand if 10$ is flat IBR for both BOB and IOB or there’s other charges as well?

I already told you 10 dollar is flat from 1k-10k dollars of remittance. Other charges also i have mentioned. I do not care what is written on banks website. I have received approvals for the special rate.

 

[Dragon_slayer]

I already told you 10 dollar is flat from 1k-10k dollars of remittance. Other charges also i have mentioned. I do not care what is written on banks website. I have received approvals for the special rate.

Can you share screenshots of a sample transaction ?

 

[Dragon_slayer]

Tt Buy rate of IDFC is low
I see better rates on BOB and IOB want to understand if 10$ is flat IBR for both BOB and IOB or there’s other charges as well?

There are some other small charges with IOB but insignificant. If its possible for you, first make a small transaction of 1000$ on IOB, see if you find the service better and then decide. I have personally gone with IOB after checking lot of other options.

 

[shashankverma]

There are some other small charges with IOB but insignificant. If its possible for you, first make a small transaction of 1000$ on IOB, see if you find the service better and then decide. I have personally gone with IOB after checking lot of other options.

Did you try BOB as well?

 

[Dragon_slayer]

Did you try BOB as well?

I checked the rates which BOB publish on their website, that itself was worse than IOB.

 

[shashankverma]

I checked the rates which BOB publish on their website, that itself was worse than IOB.

Yeah but just 07 paise, I already have BOB account and rarely get remittance so wondering what are fixed charges on these 2 banks

 

[Dragon_slayer]

https://iob.in/upload/CEDocuments/ScheduleofChargeswef10022020.pdf

You can find details here