Hello all, I am sure lot of my fellow DP members have done international transactions. I wish to know what are the best ways of receiving international payments in India. Here is what I intend to know - I am based in India and I hold an international credit card provided by Citibank. I also have other back accounts (savings & current) with leading Indian banks. I also have a verified paypal account. My client is located in Europe and wants to transfer about $300 to me. Q1. What is the best way to transfer the money? [Ex. Paypal?] Q2. Is it a good idea to ask my client to mail the check to me on my address? Q3. Is there a way to accept payment on credit card (mentioned above)? Is this a good idea? Q4. My banks allow internet banking. Can my client transfer money online; directly to my bank account? Is this recommended? Any help is appreciated. Thanks.
Use moneybookers or paypal for faster payments. If that is not possible ask them to send you international wire transfer to your indian bank account. see this site: http://indian-banks.info That is also possible. But it is a slow process. Banks will take about 1 month to cash the cheque. Ask your client to pay with his credit card to your paypal account/moneybookers. Just send him invoice. no, online banking is only for local intra-india payments. For international payments you have to use wire transfer. Just go speak to your bank manager and ask him how to receive a foreign payment. Make a note that many banks charge about $20 to process incoming wire payments. And by the way, you have a nice blog
1.Credit card 2.No advisable coz it will add up the total cost and the security issue. 3.Yes you can accept CC payment easily if you have merchant account. 4.This only work if you targeted local market and not workable if you have international client.
Wow, thanks for your responses, olddocks & mentos ! So I guess Paypal & Wire-transfer are the preferred way of accepting international payments. I'll find out more. PS: Thanks for appreciating my blog