What is the charges of WIRE TRANSFER IN INDIA

Discussion in 'Payment Processing' started by seoservicesworld, Sep 17, 2010.

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  1. #1
    Hello DP members,

    I want to know that what is the charges for getting money through wire transfer if it is more than 5000 euro.

    And is there any service tax is deducted in this while transferring in India

    Tks
     
    Last edited: Sep 17, 2010
    seoservicesworld, Sep 17, 2010 IP
  2. JoomlaDesigner

    JoomlaDesigner Active Member

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    #2
    You as a receiver will not get charged any amount to receive a wire transfer.
     
    JoomlaDesigner, Sep 17, 2010 IP
  3. vallento

    vallento Member

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    #3
    Some banks actually do charge you a service fee for all wires you receive. Then you will ALWAYS loose some money if the transfer is being sent in another currency then
    currency of your account.
     
    vallento, Sep 17, 2010 IP
  4. Digital_shubhi

    Digital_shubhi Illustrious Member

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    #4
    Yes, My HDFC takes around Rs.100 for all wire transfers.:)
     
    Digital_shubhi, Sep 17, 2010 IP
  5. Algore

    Algore Peon

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    #5
    Which bank gives u the best conversion rates ???
     
    Algore, Sep 17, 2010 IP
  6. Digital_shubhi

    Digital_shubhi Illustrious Member

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    #6
    Whatever the banks gives, its always better than PayPal rates. :)
     
    Digital_shubhi, Sep 17, 2010 IP
  7. seoservicesworld

    seoservicesworld Peon

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    #7
    Yes shubhi, you are right, Wire transfer is better than Paypal.

    My second question was, is there any problem to transfer such a huge amonut 5000 euor together? May it create any service tax or anyother problem?


    Please reply here to help me.

    Tks

     
    seoservicesworld, Sep 17, 2010 IP
  8. Smart Boy

    Smart Boy Well-Known Member

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    #8
    I think Speak to your bank they will give you the information you need. I have done wire transfers hundreds of times for business (all over the world).
     
    Smart Boy, Sep 18, 2010 IP
  9. Digital_shubhi

    Digital_shubhi Illustrious Member

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    #9
    Well, nothing much but they will call you for asking why it is coming and from where.
     
    Digital_shubhi, Sep 18, 2010 IP
  10. seoservicesworld

    seoservicesworld Peon

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    #10
    Hi

    I talked with my client and send them the swift code and IBan no. but they are telling its wrong, They said to me that IBAN no is not correct.

    Well i got the IBan no from here http://www.icicibank.com/pfsuser/ic.../wire_transfer/wiretransfer_localbank_eur.htm and and check it with the customer care of icici bank. And Icici bank people told me that it is correct

    So I use the following details

    Bank Name : JP MORGAN CHASE, FRANKFURT
    Field 56 Swift Code / BIC : CHASDEFXXXX
    (Intermediary bank) Bank Clearing Code : IBAN No. DE91501108006231605988

    Tell if these are wrong details.

    Any Experience holder in this, please help me in this regard


    Thanks in advance
     
    seoservicesworld, Sep 20, 2010 IP