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Transfer Money to India
Posted on 05/01/2011 4:15 pm
Transfer Money to India
Hi
I would appreciate if anybody would tell me the best way to transfer money from my german postbank account to indian ICICI NRE account. The time it takes to transfer is not a big matter for me, but i want to save cost like commission etc.
Thanks & Regards
Rajeev
rajeev
Member since 01/09/2010
Posted on 05/01/2011 4:47 pm
Re: Transfer Money to India
You can save a lot by cancelling the ICICI account and go for any other bank.
Use OUR-Zahlung in postbank and i find the commision from postbank is ok. ICICI have the worst rate and also money comes few days later.
raj
Member since 27/01/2004
Posted on 05/01/2011 5:00 pm
Re: Transfer Money to India
Re: Transfer Money to India
You can save a lot by cancelling the ICICI account and go for any other bank.
Use OUR-Zahlung in postbank and i find the commision from postbank is ok. ICICI have the worst rate and also money comes few days later.
Hi Raj,
I am not able to see OUR-Zahlung on postbank internet banking menus/portal. Please tell me in some more detail, i am very new to germany.
Regards
Rajeev
rajeev
Member since 01/09/2010
Posted on 05/01/2011 7:50 pm
Re: Transfer Money to India
i checked out both exchange Indian rupee rates in website , both are offering same ..
friend082
Member since 22/03/2010
Posted on 06/01/2011 9:45 am
Re: Transfer Money to India
@ Rajeev
Use Money2India from ICICI Bank. Here is the link.
https://m2inet.ici...t/m2iNetLoginForm.jsp
goodfaith
Member since 07/04/2005
Posted on 11/01/2011 4:53 am
Re: Transfer Money to India
Hi Raj,
Is there any issue you are facing with us? Anything we can do to help you retain your confidence in ICICI Bank? For any concerns, please write to us with your contact details at care@icicibank.com with subject "IBGUID: 1056988" and we will be glad to assist you.
Warm regards,
ICICI Bank Customer Service Team.
icicibankcare
Member since 11/01/2011
Posted on 11/01/2011 5:27 am
Re: Transfer Money to India
Hi Rajeev,
ICICI Bank's Money2India services offers the best and convenient way to transfer money using your local internet banking account. By using Money2India, Net express transfer, No charges for more than 800 EUR and for less than or equal to 800 EUR, 2 EUR will be charged.Currency conversion charges INR 25 will be applicable. For more information and other options, kindly click on the link, http://www.iciciba..._transfer_europe.html
Regards,
ICICI Bank Customer Service Team.
icicibankcare
Member since 11/01/2011
Posted on 11/01/2011 5:37 am
Re: Transfer Money to India
Guys,
Dont get into the smooth talking of ICICI. In the very beginning I used ICICI and stopped because of the bad rates.
Then I switched to HDFC Quickremit and was quite happy. A nice talking exec. from ICICI called me on my German number and talked to me for several minutes saying that I should switch to ICICI because they offer more competitive rates and to compare I should transfer using both services at same time and see for myself who offers better rate. And that a lot had changed at ICICI and its quality.
I did transfer using both services and ICICI was slower and offered less exchange rate. With big ammounts like 20K euros a difference of 40p makes about 130-150 Euros.
Havent tried postbank but can recommend HDFC.
supersid
Member since 26/07/2010
Posted on 11/01/2011 7:39 am
Re: Transfer Money to India
A little bit of advice of using ICICI bank. I am not sure of difference of exch rates, as in the past i always used it. But i have burnt my fingers when i was a NRI. Lost a quite a lot of money by getting into sweet talks of ICICI bank employees (Barkha Kabra-Andheri, mum). ICICI bank employees are dalals who lure NRIs to invest and as NRIs do not have the time to go behind them or they do not bother, ICICI nicely cheats them.
I would not comment on M2I but dont keep your money in ICICI banks. They are number one cheats.
I have closed all my ICICI bank accts and also all my employees in india are advised to not to use ICICI bank.
All you get sweet talks when youare out, but once you are in, you are just a hen that lays golden eggs.
savion
Member since 23/04/2004
Posted on 11/01/2011 10:40 am
Re: Transfer Money to India
@icicibankcare
Thanks for your offer. I am still a customer of ICICI but use only as a backup.
If you can access the Ticket system and look into 'ICICICARE=039-314-034', you will understand why i cannot trust ICICI anymore to be professional.
raj
Member since 27/01/2004
Posted on 11/01/2011 4:48 pm
Re: Transfer Money to India
Try Targo bank (ex citi bank), if you have a citi NRI account.
I know that the exchange rate is not that good. But i don't know how bad is this when compared to other means.
kramasundar
Member since 30/01/2009