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Which private bank is best for inward foreign remittance?
- Thread starter COSMOCRAT
- Start date
- Replies 17
- Views 3K
USD-INR Foreign Exchange Rate Comparison
Compare USD-INR foreign exchange rates across major banks in India
forex.geekdevs.com
Have been using DBS and it's fairly reliable. Don't know about forex conversion fees. I can receive donations from PayPal and Google Admob payments without any issue.
Once someone donated to me on PayPal and I chose Axis Bank. I never received the amount.
From that day onwards, DBS is my best choice.
Once someone donated to me on PayPal and I chose Axis Bank. I never received the amount.
From that day onwards, DBS is my best choice.
The chart shows iob as the highest but in reality i have got good rates from iob in past. Hdfc has good tie ups with big corporates and generally offer 5 paise less than IBR
The chart is rates for inward remittance, the higher the better i.e. IOB provides best rates for most of the days.
I transferred money to IndusInd a week back from US and no credit even after multiple emails and calls to RM. They send email from some mailbox which don’t reach Gmail. They traced the fund but ask for a ton of documents and still yet to credit.
This is very unfortunate. This never happened to me with a decent number of inward remittance transactions. I hope you get your money soon.
I complained to Twitter and got the social media team. They are sending emails but they don’t come to gmail. The branch RM shows me those emails and forwarded it to me. When I reply to those email, I get undeliverable warning. So looks like they have problem in their process. Branch RM has no experience with inward transfer.
Had decent experience with Hdfc and Citibank in the past. Rates offered by icici used to vary a lot and lower compared to other two banks
Here is my experience for latest transfer experiment. One transaction is pending and according to KVB bank they say they will try for 82 but I am suspicious if I will get it for 82.
Burnt lot of money this month. Will try other banks next month. Forgot to mention that IndusInd bank transaction is yet to be transferred and will capture that rate too once they deposit.
Branch experience is not great. If there is a private bank which offers better rate, I will go with private bank.
This is the precise reason I had stopped banking with them after 6 years of domestic INR banking. Had opened a current account because of being happy with Indus Select Savings account, and the very first inward remittance was practically lost. It was good that I had only transferred USD 50 just to check everything first. My experience mirrors yours. This was in 2018. Nice to see the 'development' in 5 years since!
