[carthick1000]

Originally Posted by Akshay6988

Should I let the educational loan financing bank handle all of the process ?

I would recommend the financing bank for fees remittance as the best option. Saves you a lot of paperwork and fund movements. Almost all reputed nationalised banks in India can do a wire transfer abroad and the rates are competitive.

For incidentals and funds later on you could use wise.com.

[Thad E Ginathom]

I use wise.com (formerly transferwise) almost every month to transfer UK->India. Reliable and good. Many transfers happen in seconds. When it takes longer (hours to a couple of days) the delay seems to be cause by the Indian banking end.

[hothatchaway]

Originally Posted by Thad E Ginathom

I use wise.com (formerly transferwise) almost every month to transfer UK->India. Reliable and good. Many transfers happen in seconds. When it takes longer (hours to a couple of days) the delay seems to be cause by the Indian banking end.

How does it work when one wants to transfer money to India? Does one have to link the foreign source account and the Indian receiving bank account to wise in order to execute the transfer? Is the process simple and possible to do from home? Thanks.

[hdus001]

Thanks for recommendation for Wise. Just tried it out now and took just minutes to transfer to an Indian HDFC account. Does this work for transfers into NRI accounts as well?

[carthick1000]

Originally Posted by hdus001

Does this work for transfers into NRI accounts as well?

Yes, it works for both NRE and NRO accounts where the accounts are INR denominated. However, wise cannot be used for FCNR accounts as it is denominated in the foreign currency you are sending.

[Thad E Ginathom]

Originally Posted by hothatchaway

How does it work when one wants to transfer money to India? Does one have to link the foreign source account and the Indian receiving bank account to wise in order to execute the transfer? Is the process simple and possible to do from home? Thanks.

There are various options for making the payment from the source bank, but I do what has always felt easiest to me: Set up the payment in Wise, and then, using the details they give, make a payment from my source-bank's online banking.

The vital details from Wise, sorting code, account number and Wise reference, will remain the same so you can set them up once as a payee in your banks online banking and use again and again, even for different payees.

Having chosen the option to pay this way in Wise, I make the payment, and then, in Wise, click on "I have made the payment."

In Wise, this is the "manual" method. I've never tried the alternative[s].

[dragracer567]

Originally Posted by hothatchaway

How does it work when one wants to transfer money to India? Does one have to link the foreign source account and the Indian receiving bank account to wise in order to execute the transfer? Is the process simple and possible to do from home? Thanks.

Apart from the process described by Thad E Ginathom's solution which generally is the cheapest (and I personally find the best), there might be an option to send money via debit card or credit depending on your country of origin but this generally has higher fees. From an European perspective, the source bank's online banking option is generally the cheapest and best option. However, I know that there are other options as well in Australia, Canada and US, so it really depends on from which country you want to remit. The Wise website can give you a pretty intuitive projection of the fees for each remittance option by remitting and receiving currency.

[download2live]

I found instarem to be offering better conversion rates than the others. Depending on the type of transfer you choose (There are a few options like Poli etc) money arrives in the account in "decent" amount of time.
I use it when there is no urgency.

Also there are always onsite software guys who need to send money to India and some guys who want to transfer the rent getting collected from investment property in India to Australia. I have seen them coordinating and avoiding the bank conversion rates althogether.

[Samurai]

This thread has maximum posts about emigrating to Canada. But, what if you become too successful in Canada? Don't fret, there is help around the corner to help you escape Canada.

https://www.youtube.com/watch?v=f88UDzk2UGc

Checkout the comments section, it has plenty of stories of Canadians escaping Canada. Once comment takes the cake:

My parents fled communist Poland for Canada in the 70's. I fled (becoming) totalitarian Canada for Poland last year.

[Dry Ice]

Originally Posted by download2live

Also there are always onsite software guys who need to send money to India and some guys who want to transfer the rent getting collected from investment property in India to Australia. I have seen them coordinating and avoiding the bank conversion rates althogether.

Isn’t that hawala?

[JediKnight]

Looks like Canada is also the favorite place to migrate for Punjab based criminals:

9 out of 11 men in Canada police most violent gangsters' list are of Punjab origin

[sdp1975]

Came across this article in DH today.

https://www.deccanherald.com/nationa...e-1142987.html

This reminds me - about 20 years ago, I had 2 colleagues who were commerce graduates working in IT. They saw no career prospects in India because of their degrees - they were simply outnumbered by engineers. One of them went to Canada and did his mba. The other went there and found an IT job.

They had families and kids but left them behind in India for a few years before they could settle and join them in Canada. I found it hard to digest the fact that they left their families behind, but then I realized that if I'd been in their shoes I'd have done the same, even if it meant staying away from my family. They are now Canadian citizens and quite happy with their lives and choices. People go to a great extent to secure their future and that of their family's. Not everyone has a plush job or career prospect in India.

Post covid many countries are opening up more than before to tackle labour shortage and to attract wealthy individuals, and this is affecting the developing nations.

[hothatchaway]

^^^ these articles fail to reveal the fact that most of the labour shortages in the West is for unskilled or entry level retail jobs, which their own citizens are not keen on. This is especially true for countries like Canada and perhaps even australia, where their economy isn't big enough to create ample white collar job opportunities for skilled college graduates.

It is true that competition is fierce in India, but the majority of so called students flocking to Canada, Australia or even the UK would be hard pressed to gain entry into a top 20 business or engineering school in India, let alone the IIMs and the IITs. Good students from India continue to compete for top schools in the US/UK but they form a miniscule percentage of this number. If a fresher cannot land an entry level IT/ops/sales job in India due to lack of employable skills, he is unlikely to do so anywhere else in the world, and schools in the West don't even do campus placements, which is taken for granted in India, even in institutions far below the pecking order.

Education is big business in all the English speaking western countries, and after the pandemic they are pulling out all stops to attract customers, not all of whom have the academic merit for an advanced degree.

[Akshay6988]

Hi Team BHPians, I'm not sure if this is correct thread to post but any help is appreciated ! With the current accommodation crisis going on in Dublin, I'm seeking help everywhere !
This is on behalf of my sister - she's going for her master's to Dublin. I'm looking for temporary / permanent accommodation for her, available at earliest. Please dm me if anyone has any leads, much appreciate your help !

[redcruiser]

Originally Posted by V.Narayan

T

How many of us drawing room critics have written to the PM on the email link provided for any citizen to write up on any subject. So long as you are writing half sense you will usually get a reply in a few days. How many of us write to the local MP of our constituency or the local IPS officer or IAS officer and then see what happens or does not happen. I can bet my last rupee less than 1% of the members of this forum would have done any one of these. We are a nation of grumblers. How many of us actively lead local efforts or projects to improve our environment - the record here may be somewhat better.

Does these kind of writing work? I would really like to know.
Do you have any feedback for the same.