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  #1  
Old 01-15-2009, 11:33 AM
sidbee sidbee is offline
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Default Did anybody use SBI Express Remit to transfer funds to NRE Account

Hi Guys,

I have a question , and would really appreciate an answer :-)

I am planning to transfer funds from my US Bank account to my Axis Bank account in India (NRE Account).

Just wanted to confirm , if any of you did transfer funds to Axis bank NRE account , and what type of settings, did you key in , in the beneficiary details.

If you did not transfer to AXIS Bank , please answer the same question, if you transferred to any NRE account in India.
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  #2  
Old 01-15-2009, 12:05 PM
deafTunes123 deafTunes123 is offline
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Default

Yes. I recently user onlinesbi.com/gls to transfer money to my NRE account to SBH, Hyderabad not to Axis Bank. Its a cool no hassle transaction. Money got transferred with in 5 business days as promised.

I don't remember, its mostly my bank information eg., bank branch id no, account number etc., that it asked.

Hopefully this information helps you.

Quote:
Originally Posted by sidbee View Post
Hi Guys,

I have a question , and would really appreciate an answer :-)

I am planning to transfer funds from my US Bank account to my Axis Bank account in India (NRE Account).

Just wanted to confirm , if any of you did transfer funds to Axis bank NRE account , and what type of settings, did you key in , in the beneficiary details.

If you did not transfer to AXIS Bank , please answer the same question, if you transferred to any NRE account in India.
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  #3  
Old 01-15-2009, 12:38 PM
vikki76 vikki76 is offline
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Default

Have used SBI remit service successfully to xfer money to ICICI NRE savings account. No problems at all.
Quote:
Originally Posted by sidbee View Post
Hi Guys,

I have a question , and would really appreciate an answer :-)

I am planning to transfer funds from my US Bank account to my Axis Bank account in India (NRE Account).

Just wanted to confirm , if any of you did transfer funds to Axis bank NRE account , and what type of settings, did you key in , in the beneficiary details.

If you did not transfer to AXIS Bank , please answer the same question, if you transferred to any NRE account in India.
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  #4  
Old 01-15-2009, 01:32 PM
solaris27 solaris27 is offline
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Default i used it to transfre money ib sbi

i used it to transfre money ib sbi
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  #5  
Old 01-15-2009, 01:43 PM
aray aray is offline
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Default Are there any charges?

Quote:
Originally Posted by apume View Post
I used the rr instead of gls - onlinesbi.com/rr and the money was transferred in 1 day to my NRE acct in Mumbai.
apume,
What kind of information is required to start the online transfer process? Is it safe to provide this information? Are there any fees charged by your bank in the U.S. or SBI in Mumbai?

Thanks.
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  #6  
Old 01-15-2009, 03:07 PM
vin13 vin13 is offline
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Most banks do the money transfer for free. But here is the catch. They make money in the exchange rate. For those who may not know this, each bank has a different exchange rate (for the same day). So when you enquire compare exchange rates between banks. You get better exchange rates when you transfer higher amounts too. For example ICICI typically give 30-40 paise more per dollar. If you are transfering big amount, it can add up.

Most of you may be aware of these details.
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  #7  
Old 01-15-2009, 03:16 PM
ndbhatt ndbhatt is offline
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Default

Same as apume
I used the rr instead of gls - onlinesbi.com/rr and the money was transferred in 1 day to my NRE acct in Mumbai.
It is good if you see a spike in $ to INR rates.

Couple of points to consider:
Your local bank may charge you for Domestic wire transfer. Charges differ from bank to bank. Typically btween $10 and $20
With RR option you can transfer amount between $2001 - $ 100,000

Maybe I am missing something here, but Money2India (ICICI) doesn't allow more than $3,000 for service similar to SBI's RR.

Last edited by ndbhatt; 01-15-2009 at 03:19 PM.
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