transferring large amount of money from india

Discussion in 'Payment Processing' started by enfield1212, Mar 3, 2009.

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  1. #1
    Hey guys

    I've been living overseas for the past 5 years and last month I sold a property in india.I am currently in india and i want to transfer it to newzealand.the amount is around 30lakhs.
    Whats the best possible way to do it ?

    Cheers
    Sunil
     
    enfield1212, Mar 3, 2009 IP
  2. theonly1

    theonly1 Active Member

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    #2
    1)Wire Transfer to your bank in NZ
    2)Draft payable in NZ ,ask local bank in India they will be more than happy to help you as they will make good money on this.
    Remember You can always negotiate Currency Conversion rates at any bank even first they will say its fixed
     
    theonly1, Mar 3, 2009 IP
  3. seohyderabad

    seohyderabad Peon

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    #3
    i think you can use NRI banking (citibank ) or by western union
     
    seohyderabad, Mar 3, 2009 IP
  4. saurabhj

    saurabhj Banned

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    #4
    we can't send money from India using Western Union. I think wire transfer is the best way OR you can open an NRI account as well..
     
    saurabhj, Mar 3, 2009 IP
  5. hdwills

    hdwills Well-Known Member

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    #5
    Wire transfer is the best way. I transferred $65K in total to USA, broken in 3 installments.

    You will have to do it through SWIFT. Written FERA/FEMA declaration to RBI is essential. Your bank should arrange
    that for you. you will just have to sign a couple of forms.
     
    hdwills, Mar 3, 2009 IP
  6. Mr Goldberg

    Mr Goldberg Banned

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    #6
    Walk to the bank. They will give you the best solution. As far as I know,you can use WIRE TRANSFER for 3-4 parts of it. Thats the best easiest way..
     
    Mr Goldberg, Mar 3, 2009 IP
  7. cgull00

    cgull00 Peon

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    #7
    fund your paypal with this money .then you can withdraw from any country
     
    cgull00, Mar 3, 2009 IP
  8. kolucoms6

    kolucoms6 Active Member

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    #8
    Paypal ? 30 lacs ? 60000$ ? not bad...
     
    kolucoms6, Mar 3, 2009 IP
  9. blogreviewsolution.com

    blogreviewsolution.com Greenhorn

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    #9
    This is not a good idea i think. What if paypal freeze your paypal account? VERY Large money on paypal is suspicious.
     
    blogreviewsolution.com, Mar 3, 2009 IP
  10. hdwills

    hdwills Well-Known Member

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    #10
    Have you ever tried transferring large amount of money from one country
    to another, if not, do refrain from posting such weird solutions.
     
    hdwills, Mar 3, 2009 IP