Hello friends, One of my client from US is going to send money to my saving bank account from his US bank account. I just checked other thread and found people are getting calls from banks that they cant receive payments to savings account for business transactions. So will it create any problem? I really dont want to risk the amount and I can find any other way to do this transaction. Paypal is giving lots of trouble nowadays so trying to avoid it. Please let me know if its fine to do it. Regards, dani4800
if you are rcvg money in your personal name and you are the owner of the business then it does not make a difference if you show the transaction in your books of accounts. rcvg money into you savings account is completely legal and no issues! we have done it after consulting our CA.
okay thanks friends, I have asked my client to make payment today. He will be doing it in 2-3 days. Does anyone know how much time remit2india takes to deposit funds?
Remit2India is for only personal payments and NOT for any kind of business transaction. So, better go with PayPal as RBI has approved them.