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|6th August 2008, 11:23||#1|
Join Date: Nov 2007
Thanked: 67 Times
Need help: Money transfer to UK
Can anyone suggest ways to send money to UK? Any suggestions on offline transfers be welcome. I had borrowed in USD , so can I send it in USD?
|6th August 2008, 11:54||#3|
Senior - BHPian
Join Date: May 2007
Thanked: 245 Times
You can transfer an equivalent of GBP after the conversion. Your bank can help you, you will have to fill a form for the transfer to another account out of india.
|6th August 2008, 19:36||#4|
Join Date: Sep 2006
Location: Was PB, DL, HR , KA and Now GJ-1
Thanked: 21 Times
HDFC bank does give this facility & so does Union Bank. I used them both to transfer money to my brother in Australia. You need to have person' s name, account no, address of the bank (where the account is) & the swift code for that bank.
Hope it helps.
|8th August 2008, 18:21||#6|
Join Date: Jul 2007
Location: New Delhi
Thanked: 14 Times
Yup, there any categories under which you can transfer money out of an HDFC bank account such as Gift, Educational etc etc. The limit of a Gift transfer is USD 5000 a year. This is the highest limit amongst all the categories.
You can send it in any currency, and they will give you the exchange rate of that day itself. It usually take (they say) 2-3 days for the transfer to take place, but in every one of my transfers it was completed the next day
They charge Rs.200 for every such transfer. You have to fill out 2 forms, second one in duplicate - so it doesnt take too long at the bank.
Good thing about them is that, they give you a copy of the swift code receipt so you can mail it to whoever you sending money to.
As far as Western Union goes, my experience (of 2 months ago) taught me that they do not allow outbound transfers only allow incoming ones.
(I have just made 3 transfers to China in the past 2 months and have an account with HDFC - thats why I know)
|23rd November 2008, 19:57||#7|
Join Date: May 2008
Thanked: 28 Times
Guys my family is planning to sell our property in India and transfer that money to UK. Anyone here knows whether this can be done? I know there is a limit of $5000 which can transferred out every year but the money involved here is quite more than $5000.
I have heard about off-shore accounts but don't know much about it. Can anyone help please?
Also would we be liable to pay tax on the money in UK that is transferred from India?
Thanks in advance!
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