How to transfer money from US to India?

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Last Comment 2023-09-20

2023-09-19

Please suggest any best and safest way to transfer money from US to India and what would be the charges?

Also, once I get the money from NRE to NRO account then will it be chargeable to my parents, if I transfer same funds to their account?

Thanks in advance.

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https://www.desidime.com/discussions/how-to-transfer-money-from-us-to-india?page=1#post_9561576

pradyot666

2023-09-19

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Depends on how much USD u plan to send . Usually riatransfer( good rates small amounts) and moneygram ,XE.com are also good and trustworthy.

https://www.compareremit.com/compare-money-tran...

Just dont go with some untrusted name .

If u plan to do large amounts 50k USD then best is Wise (formerly known as Transferwise)

Transfer from ur acc to NRE (exempted) and if u plan to give to parents then u can do that its tax free for them . As long ur under 250kUSD i think , gifts are non taxable.

Charges depends on several factors , some will give u exact rate but charge fees ef Wise , some will give u bad exchange rate but no transfer fees . Hence check that acordingly .

https://www.desidime.com/discussions/how-to-transfer-money-from-us-to-india?page=1#post_9561957

Mk07

2023-09-20

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pradyot666 wrote:
Depends on how much USD u plan to send . Usually riatransfer( good rates small amounts) and moneygram ,XE.com are also good and trustworthy.
https://www.compareremit.com/compare-money-tran...
Just dont go with some untrusted name .
If u plan to do large amounts 50k USD then best is Wise (formerly known as Transferwise)
Transfer from ur acc to NRE (exempted) and if u plan to give to parents then u can do that its tax free for them . As long ur under 250kUSD i think , gifts are non taxable.
Charges depends on several factors , some will give u exact rate but charge fees ef Wise , some will give u bad exchange rate but no transfer fees . Hence check that acordingly .

Okay, thank you for the suggestion.