Need advise to send money from India to USA

[mastfun]

Hi Team,

Is there a best possible way to send money from India to USA?

I tried this method and works perfectly:

1. Use RBL Safari Card to transfer money from Paypal India to Paypal USA
2. Use Paypal USA balance to Account.

Will there be any tax implications with new Taxation? Note: RBL Safari doesn't has a forex markup fee!

Thanks,
Avinash K N

 

[Deleted member 11974]

look for remmitance providers like flywire or banks like dbs have the lowesr remittances rates is what i have heard.
or find someone in usa who wants to remit usd to inr
tell him to pay at your place and you pay at his place
money never crosses borders no markup

 

[CARDBITRAGE]

Hi Team,

Is there a best possible way to send money from India to USA?

I tried this method and works perfectly:

1. Use RBL Safari Card to transfer money from Paypal India to Paypal USA
2. Use Paypal USA balance to Account.

Will there be any tax implications with new Taxation? Note: RBL Safari doesn't has a forex markup fee!

Thanks,
Avinash K N

Best way would be to buy crytocurency and withdraw that in the US. 🤣
Jokes aside, Wise is the most convenient, Bookmyforex(wire transfer) is the cheapest.
I think Paypal has high fees and bad conversion rates. So I'm not sure if it a good option.

 

[RajeshV]

Note: RBL Safari doesn't has a forex markup fee!

Not really exclamation worthy... Also, PayPal charges more than enough fee to compensate (the lack of markup) and then some.

 

[mastfun]

Best way would be to buy crytocurency and withdraw that in the US. 🤣
Jokes aside, Wise is the most convenient, Bookmyforex(wire transfer) is the cheapest.
I think Paypal has high fees and bad conversion rates. So I'm not sure if it a good option.

Thanks a lot , I will try Bookmyforex

 

[mastfun]

Found a better way 🙂
1. I used Safari Card to Load Skrill wallet
2. Skrill wallet to bank with no fees 🙂

RBL charged me 83.32 per dollar which is dynamic and better conversion rate!

RBL Transaction Log:





No fees or what's so ever! Isn't this good way to convert?

 

[mastfun]

Wise take 983 for the same

 

[Deleted member 11974]

Why is it that i am being levied a fee?

 

[mastfun]

View attachment 32355View attachment 32356



Why is it that i am being levied a fee?

Interesting! Can u try to US, let's see?

 

[Deleted member 11974]

yes will check and send

 

[theglobalinvestor]

How does this work for larger amounts like ₹5k or $10k?

 

[Deleted member 11974]

 

[Deleted member 11974]

there is a fee for credit cards and a slight markup in rates as well markup

 

[mastfun]

Hmm interesting. I am not able to see that fee as posted in the screenshot!

 

[moneyMaker]

Dukascopy is another multi currency bank.

 

[theglobalinvestor]

View attachment 32361View attachment 32362

Thanks I meant $5k or $10k USD. Also, curious how they handle TCS above ₹7L.

 

[Deleted member 11974]

Thanks I meant $5k or $10k USD. Also, curious how they handle TCS above ₹7L.

there are certain transaction limits based on profile
not sure abot TCS

 

[Deleted member 11974]

Dukascopy is another multi currency bank.

kindly share its transaction fees

 

[Deleted member 11974]

Hmm interesting. I am not able to see that fee as posted in the screenshot!

maybe because of small transaction i guess

 

[Rajatkumar1]

I agree, it’s better to use remittance providers like BookMyForex or any other similar platform available online for that matter. I have used BookMyForex twice to send money to my sister in the USA.

My experience was pretty ok, money got transferred within 1-2 days but rates were impressive. TCS will only be charged if you are sending more than 7 lacs in a year, depending on the purpose.