Suitable method for receiving payment in India

Hello!

For some time now, I have a regular client at US who is paying through Credit Card (either in his name or in the name of the company he is working for, i am not sure) to my paypal account.

While I have no problem with this, I was wondering if there is a better method of directly accepting the payment to my Indian bank account without having to use Paypal so that I save some amount of fees. I understand that the fees are nominal per transcation, but when I look at the balance sheets for the whole year.. there is substantial amount lost.

Therefore, I was wondering if he can directly send to my Indian Bank account as he is a person whom I can trust completely.

Thanks

Jeet

 

Even if you recieve money transfer using Wire money transfer bank will charge you some amount. So ask your bank about the money to india charges using wire transfer.

 

Paypal is the simplest method. Paypal to Indian bank accounts transfer are pretty fast and affordable. Wire bank transfer is an option. But it is very costly

 

Try western union

 

I don't know about any direct process but if you can use moneybookers its cheaper thn paypal .. Receiver gets the whole payment and you just need to pay $2.45 for any withdrawal made at your bank account ..

 

I think you can ask him to pay using Xoom directly to your bank account.

You will need to give him your bank acount number, branch code, district and other information may also be required.

For more information check www.xoom.com.

If he uses it then ask him to use a coupon which Xoom gives as free for first transaction.

Hope it helps.

 

PayPal is the better option. Otherwise You can use any of the services from ICICI Bank

 

The easiest, simplest and the one with the least transaction fees will be definitely the PayPal - Bank transfer.

 

Standard Charted is available in US, if your client is nearby Standard Charted Bank (If you are very lucky) you can accept Wire Transfers easily.

 

If both of you have a international bank account.then you can easily send and recieve money.

 

Thank you friends for your suggestions.

An overall view of all the opinions put together is tilted towards Paypal which is what I am following currently. Neverthelss there are few other intersting options too...

Thanks once again

Jeet

 

If your client is longstanding and trusted fellow, you can perhaps advise him to pay you in lump sum in big amounts...rather than various small installments...You will be able to save on substantial fees this way...
Adopt this method...only if you trust your client and you kind of have an handle on his character...

Regards,

RightMan

 

how about using reloadable prepaid plastic cards from usa.. u can ask some one to buy or order online to a usa address. and then have it shipped. most comes with a USA bank account. so the fees of transfers within the usa banks is also cheaper. and u can withdraw it at ATM's near u. cheaper too.
try
rushcards, accountnow.net.

 

use the westerbn union. best and fast

 

For paypal if the amount is more than Rs.7000 i think paypal will not charge, it is the cheapest option