I want to receive money from USA to india to my axisbank account in USD Dollars though a wire transfer . I have couple of questions please answer them if anyone having experience of that process before. Ques 1- what are the necessary information do i need to provide to that US person to process the wire transfer hassle free? Ques 2- how much time it can take to clear fund to my account and do i also need to pay fee for receiving funds? Ques 3-I have read somewhere Nostro Account Details of beneficiary .what are these so far i know about my bank details like swift code ,account number and bank name ? thanks and any help is appreciated
need swift code which is given by your local bank and you just need to inform that code to outsider. it take 2-3 business day(can be different as it depend on your local bank respond) to receive. Thanks.
First of all you have to submit a w8 form which contains some tax information. Then you have to supply the sender with your bank name, account number & swift code only. PM me if you need further details. I've been recieveing wire payments every week since past 2 years
Check with your bank for a swift or some code. Usually it will be on your cheque book. Other than this, the remaining stuff is usual, ur Bank details with address and your name and account details. It usually takes 1 working day, but sometimes depending on the bank it will be from 2-3 days If it goes beyond that, then ask the person transferring the money to check it out.
but unlike banks, westernunion is costlier. For a couple of days, if that additional amount is OK then you can try the other two. It all depends on how much can you let go in commission and how fast you want it
PayPal is the best man.. I am using it for the past 5 years.. had some problems initially and my account got frozen twice, but I managed to recover it and now its working fine for the past 3 years.
man, Indian can't receive more than $500 at once in paypal account and i am earning a lot more than that and i don't want to put hassle for sender to send the amount into installments. Well last night my vendor send a wire of $9k into my account . money is not still not available into my bank account . I will update the thread once i would have receive the payment . thanks all for the valuable information .
i have read somewhere that they have receiving limit as well . one can only receive $2.5 k at once and only 12 transition per year for an account
Infact you should see it tomorrow in your bank. All it takes for me is 1 day and sometimes 2 working days
I once got funds from china by only giving my swift code and w8 form provided by the bank in local , think it applies for internationally also.
plz help me too. stuck wid same issue.wats the procedure for wire transfer.and also how to register for anti money laundrin thin.someone said its very imp.plz help.its my 1st time.
Did you ask your bank? They will give you the information you need to receive the transfer? Good Luck
Yes, You have to provide the Nostro account details for easy transfers. You may contact your Axis bank Branch for the Nostro details. Wire Transfers may take 2 to 3 weeks.