USD wire to an Indian bank like ICICI or HDFC...

Discussion in 'Payment Processing' started by akbsol, Dec 8, 2008.

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  1. #1
    hi everyone,

    Somewhere on this forum it was suggested that USD wire is more economical and faster than USD cheque deposit. I am totally new with this wire thing. Can anyone please tell me how much it takes to recieve a USD wire in HDFC or ICICI in India (assuming the sender bears the wire fee charged by sending US bank). For example if someone wire me $100 and current xchange rate (shown of tv, newspaper n elsewhere) is 1 USD = 49.50 INR, how much should I expect to see in my account and how long does it generally take?

    I would be very glad if someone advises me on this.

    Regards,
    Akash
     
    akbsol, Dec 8, 2008 IP
  2. infogle

    infogle Prominent Member

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    #2
    ICICI takes a flat fee of 250 or 500 i think... and the conversion charges + service tax - also you need to submit a declaration to them in order to credit them the USD money in your INR account... usually the rate which you will see in CNBC and the rate you will get will have a difference of Rs.1 to Rs.1.5

    hope it helps...
     
    infogle, Dec 8, 2008 IP
  3. akbsol

    akbsol Member

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    #3
    I had sent a query to HDFC customer care about the fees they charge to receive USD wire in my account. And here is their reply. Is it possible ??

     
    akbsol, Dec 8, 2008 IP
  4. prasanth11

    prasanth11 Peon

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    #4
    my relative has done from usa to axis bank,it took 7 days
    if ur branch has forex,it will be much faster like 3-4 days
    if u see 50rs / $ in cnbc tv 18,bank wil charge u 48.50 like that
     
    prasanth11, Dec 9, 2008 IP
  5. agnivo007

    agnivo007 Peon

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    #5
    Can anyone confirm if the declaration about inward forex is needed and procedure?
     
    agnivo007, Dec 11, 2008 IP
  6. 11Sale

    11Sale Banned

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    #6
    I have been reciving it at SBI since long, they never requested any documents. Earlier it was free, now they charge Rs 25/-
     
    11Sale, Dec 14, 2008 IP