Best way to receive money from Germany to India
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Hello folks,
I am doing freelance IT consultancy for a German company from home, and my first month's pay is due. The company's finance team asked me to share my Wise account details to initiate the payment, as this method could help me save on transfer fees.
However, I faced several issues while creating the Wise account:
- The Wise personal account doesn't support receiving money in India, so I had to look for a business account instead.
- Unfortunately, the business account does not support the IT consultancy category. As a workaround, I changed the category to "Educational and Learning Purpose," which allowed me to proceed to KYC (Know Your Customer).
- Now, when I try to complete the KYC, there is no one available to assist me.
I feel stuck at this point and have a few questions:
1. Are there any better alternatives to Wise? I have checked PayPal and Remitly, but PayPal charges high fees, and Remitly seems insecure.
2. What charges should I expect if I share my bank details directly with the company for payment?
3. I have accounts in IndusInd Select, IDFC Wealth, and savings accounts in Axis, HDFC, Fi, and RBL banks. Do these accounts offer cost-effective inward remittance?
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Company batado, hum bhi kar lenge freelancing
You will be a truly international guy, if so. Moving from India 🇮🇳 to USA 🇺🇸 and freelancing for Germany 🇩🇪
@amdas can you give more details about freelancing
Just use Remitly? Been using it for a while, it's really smooth & fast. Didn't have charges with my low value transactions, don't know about yours.
Supports UPI, so you don't need to signup.
They can just enter your normal Google Pay or any similar UPI ID & name & you'll receive the amount in your bank.