Cheapest way to transfer money abroad?

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mango-man

I want to transfer money from my savings account to my sibling in Canada. Which is the cheapest way to do it? I have savings accounts with ICICI, HDFC and IDFC First. Can open account with IndusInd if needed (might have to transfer multiple times in future).

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Deal Cadet Deal Cadet
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shoaibmax wrote:

https://wis...m/

Compare the transfer charges here.


Thanks.

Is this a reliable and trustworthy 3rd-party? Haven’t heard of wise before.


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mango-man wrote:

Thanks.

Is this a reliable and trustworthy 3rd-party? Haven’t heard of wise before.


Wise was called TransferWise earlier. It is much better than banks and paypal. 

I’ve been using their service since more than 5 years.

Deal Subedar Deal Subedar
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open a jupiter account here…load money in it….and parcel the jupiter debit card to canada….jupiter has 0% forex charges…

Cash withdrawal from any ATM outside India ₹100 per cash withdrawal

₹100 per cash withdrawal + 3.5% forex fee on transactions beyond the specified limits of -
  • ₹ 25,000 per month (for Savings Account)
  • ₹ 1,00,000 per month (for Pro Salary Account)

Cross currency forex charges on international debit card transactions Zero forex fee on international spends
  • Upto ₹ 25,000 per month (for Savings Account)
  • Upto ₹ 1,00,000 per month (for Pro Salary Account)



Deal Subedar Deal Subedar
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i have used wise (transferwise); pretty easy and safe and fairly priced with tx charges.
takes time for 1st transaction (2 days around), after that it happen quickly within a day.

Deal Subedar Deal Subedar
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batmanBABA wrote:

open a jupiter account here…load money in it….and parcel the jupiter debit card to canada….jupiter has 0% forex charges…

Cash withdrawal from any ATM outside India ₹100 per cash withdrawal

₹100 per cash withdrawal + 3.5% forex fee on transactions beyond the specified limits of -
  • ₹ 25,000 per month (for Savings Account)
  • ₹ 1,00,000 per month (for Pro Salary Account)

Cross currency forex charges on international debit card transactions Zero forex fee on international spends
  • Upto ₹ 25,000 per month (for Savings Account)
  • Upto ₹ 1,00,000 per month (for Pro Salary Account)



niyo card also has similar charges, that’s also an option

Deal Newbie Deal Newbie
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could you please share your referral code?

Deal Cadet Deal Cadet
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Checkout niyo global, jupiter, fi. 

Also if you are familiar with cryptos, you can tranfer USDT.

Deal Cadet Deal Cadet
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sandeep3004 wrote:

could you please share your referral code?

for which site/app?

Critic Critic
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mango-man wrote:

Any way to check rates without opening digibank savings account?

In the above link scroll down & you will see a table with all the charges. To see detailed example see this link & click on + icon to expand the "Give an example of foreign currency conversion application on remittance transaction? "
https://www.dbs.com/digibank/in/banking/remitta...

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guest_999 wrote:

In the above link scroll down & you will see a table with all the charges. To see detailed example see this link & click on + icon to expand the "Give an example of foreign currency conversion application on remittance transaction? "
https://www.dbs.com/digibank/in/banking/remitta...

Thanks, saw those already. Would like to compare real-time rates and charges with other services like wise and bookmyforex. Guess I’ll have to open a digibank account for that.

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mango-man wrote:

Thanks, saw those already. Would like to compare real-time rates and charges with other services like wise and bookmyforex. Guess I’ll have to open a digibank account for that.

It is a 10k min balance acc with specific cities restriction. If you can afford to keep 10k there then I suggest opening it as it is a decent acc with regular balance maintain plus spend campaign offers that are more than enough for the reason to have this acc. PM me your mobile no for getting referral link(if you spend 5000 on debit card within 30 days of opening acc then both you & I will get 250 cb).

Deal Subedar Deal Subedar
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Watcher wrote:

Checkout niyo global, jupiter, fi. 

Also if you are familiar with cryptos, you can tranfer USDT.

Buying crypto using INR is so expensive. What’s the point of buying USDT using INR and then transferring it to Canada and his brother selling it for CAD and then using it?

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sardasa wrote:

Buying crypto using INR is so expensive. What’s the point of buying USDT using INR and then transferring it to Canada and his brother selling it for CAD and then using it?

https://cdn0.desidime.com/attachments/photos/755453/original/images.jpeg?1648568161

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