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Old 17th August 2015, 15:30   #61
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Default Re: Transferring Money into / out of India

Does anyone have any experience with transferring money using an IBAN number.

For a studio apartment I booked in Switzerland, the owner has sent the IBAN no. which is like an International Account Number and should be sufficient to make the payment. However, the banks need a whole lot of details like Owner Name, Address, Bank Name, Bank Address, Account No. (besides this IBAN no.).

Any fast way of transferring money to the apartment owner in Switzerland?
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Old 17th August 2015, 15:41   #62
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Default Re: Transferring Money into / out of India

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Originally Posted by fine69 View Post
Does anyone have any experience with transferring money using an IBAN number.

For a studio apartment I booked in Switzerland, the owner has sent the IBAN no. which is like an International Account Number and should be sufficient to make the payment. However, the banks need a whole lot of details like Owner Name, Address, Bank Name, Bank Address, Account No. (besides this IBAN no.).

Any fast way of transferring money to the apartment owner in Switzerland?
I am not an expert, but you could try calling your bank cc in India and ask them how to make an international wire transfer, and what details you need.
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Old 17th August 2015, 15:44   #63
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I am not an expert, but you could try calling your bank cc in India and ask them how to make an international wire transfer, and what details you need.
I did that and the bank needs all the details that I listed. However, Western Union website states that only IBAN with Name, Bank Name details should suffice. But then no single Western Union Agent is able to give me a proper answer about wiring money using IBAN. Weird, aren't they supposed to wire money day in day out!
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Old 17th August 2015, 15:55   #64
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Default Re: Transferring Money into / out of India

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I did that and the bank needs all the details that I listed. However, Western Union website states that only IBAN with Name, Bank Name details should suffice. But then no single Western Union Agent is able to give me a proper answer about wiring money using IBAN. Weird, aren't they supposed to wire money day in day out!
I am guessing you are in India currently, otherwise you wouldn't be asking this question. Western Union page says you need theseinfo to make a wire transfer internationally.

If you are in SWZ already, you could make a transfer from your local bank or an ATM.
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Old 18th August 2015, 15:12   #65
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Default Re: Transferring Money into / out of India

@fine69: SBI's netbanking can do that. I've wired money that way previously to a non-IBAN a/c number. It accepts IBAN also as per the screenshot.

Transferring Money into / out of India-screen-shot-20150818-3.11.38-pm.png
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Old 24th January 2016, 00:13   #66
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Default Re: Transferring Money into / out of India

Did anyone try money2world service by ICICI Bank? The charges seems to be flat 750 plus taxes. They offer 16 currencies. Please share your experiences.
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Old 20th June 2017, 19:30   #67
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Default Re: Transferring Money into / out of India

Last post on this thread is from 2016 and hence thought of checking if there are any new avenues/options available recently.

I am in need of effecting an inward remittance from my overseas account to indian account.

Apart from xoom and icici services that have been discussed here, I have found findstoindia by Kotak.Any feedback on it.

I need some guidance on the process since I would be doing it for the first time.
Are there any charges that my overseas bank would levy in addition to those by remittance company?

Rgds.
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Old 20th June 2017, 21:30   #68
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Default Re: Transferring Money into / out of India

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I am in need of effecting an inward remittance from my overseas account to indian account.
You will have to do SWIFT from overseas bank to your Indian bank. The remitting bank normally charges 25-40 $ or Euros and a similar amount is lost normally at the time of receipt due to intermediary / receiving bank charges. More than charges you should be concerned with the Exchange rate that Indian bank will give. If the amount is large get in touch with your Bank and ask them to freeze rates for you for a day or so, they may hold some funds in your account to cover any variance in case they don't get.
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Old 3rd July 2017, 17:20   #69
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Default Re: Transferring Money into / out of India

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Originally Posted by sindabad.sailor View Post
Last post on this thread is from 2016 and hence thought of checking if there are any new avenues/options available recently.

I am in need of effecting an inward remittance from my overseas account to indian account.

Apart from xoom and icici services that have been discussed here, I have found findstoindia by Kotak.Any feedback on it.

I need some guidance on the process since I would be doing it for the first time.
Are there any charges that my overseas bank would levy in addition to those by remittance company?

Rgds.
If it's not too late, you can try Transferwise. The rates are usually better than what banks offer and the conversion charges are also on the lower side.
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