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?

 

[zaid_2913]

Hello everyone,

I’m new to foreign inward remittance. Today, my former employer in the UAE transferred my settlement amount to my HDFC account, but the funds are on hold. HDFC is requesting disposal instructions. Can anyone please guide me?

Guys Update.
For 15990 USD i got 1378018.

 

[HumorSimpson]

Guys Update.
For 15990 USD i got 1378018.

can you give full details like charges forex rate given etc ?

 

[zaid_2913]

can you give full details like charges forex rate given etc ?

Break i don't have, They credited this amount.

 

[HumorSimpson]

Break i don't have, They credited this amount.

You would be getting an email with all details. Mask any confidential details and please post here.

 

[shashankverma]

Guys Update.
For 15990 USD i got 1378018.

They deducted 24k INR / 275$ in the process

 

[zaid_2913]

You would be getting an email with all details. Mask any confidential details and please post here.

Yes received details

 

[HumorSimpson]

Yes received details

Total charges 1058₹
Forex rate 86.18

Wonder what would it have been for IOB? IOB today's tt sell is 87.97. Atleast 16K ₹ would have been saved for 16K $ remittance

 

[zaid_2913]

Total charges 1058₹
Forex rate 86.18

Wonder what would it have been for IOB? IOB today's tt sell is 87.97. Atleast 16K ₹ would have been saved for 16K $ remittance

I shared my HDFC account details over a year ago and had lost hope of receiving the money from the company. They unexpectedly transferred it. I could have saved thousands if I had done my research properly.

 

[HumorSimpson]

I shared my HDFC account details over a year ago and had lost hope of receiving the money from the company. They unexpectedly transferred it. I could have saved thousands if I had done my research properly.

OK then great !!! it was due from the old company, getting itself is a huge thing.

 

[shashankverma]

@zaid_2913 So HDFC didn't charge the flat intermediary 10$ fee?
Did you receive 15990$ actually or was it 16k$ from your company and then HDFC deducted 10$ intermediary and made it 15990$?
Also, crop or blur your account number in snapshot.

 

[shashankverma]

Total charges 1058₹
Forex rate 86.18

Wonder what would it have been for IOB? IOB today's tt sell is 87.97. Atleast 16K ₹ would have been saved for 16K $ remittance

For inward remittance You have to look at TTBUY 87.41

 

[HumorSimpson]

For inward remittance You have to look at TTBUY 87.41

Sorry my bad. Anyways I have taken only $1 difference, so the statement of atleast ₹16K difference still valid

 

[zaid_2913]

@zaid_2913 So HDFC didn't charge the flat intermediary 10$ fee?
Did you receive 15990$ actually or was it 16k$ from your company and then HDFC deducted 10$ intermediary and made it 15990$?
Also, crop or blur your account number in snapshot.

They sent 15990 only.

 

[shashankverma]

Thread 'Bank of Baroda BOB inward remittance SWIFT/intermediary and other charges'
https://www.technofino.in/community...e-swift-intermediary-and-other-charges.43569/

 

[SureM]

I have 30k USD RSUs in fidelity US account. I want to encash it. Fidelity is charging flat 2.5%. Resident Indian. No bank account in the US. HDFC salary account in India. Is there a way to avoid these steep charges. Kindly suggest.

 

[shashankverma]

I have 30k USD RSUs in fidelity US account. I want to encash it. Fidelity is charging flat 2.5%. Resident Indian. No bank account in the US. HDFC salary account in India. Is there a way to avoid these steep charges. Kindly suggest.

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