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Money Transfer From US--please help.

Discussion in 'Money Matters' started by jothi, Feb 21, 2007.

  1. jothi

    jothi Senior IL'ite

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    Hi Friends,

    I desperately need to send money to India for my father's sugery as soon as possible in the next couple of days. Which is the fastest method to send money. Have any of you used Citibank or ICICI bank to do money transfers. Please help. I need to find the quickest one possible and a bank which gives good exchange rate.

    Thanks in advance,
    Jothi.
     
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  2. srilak

    srilak Senior IL'ite

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    Hi,

    You can send money through ICICI bank. Generally, when u have an account in ICICI and your father also has account in that same account then u can send money within one day.

    Otherwise, u can send money through wire transwer. However it takes 3-4 days to reach your father.For wire transwer, bank useually charge u some money. But when u use ICICI bank they don't take any money for the service.




     
  3. Vandhana

    Vandhana Silver IL'ite

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    Hi Jothi,

    I have used the ICICI money to India . It is quite quick. If you have not set up an account, it takes about 2 to 3 business days to activate. If you are transfering to an ICICI account, the money is there in 3 to 4 business days.

    Hope this helps

    Vandhana
     
  4. raginiprakash

    raginiprakash Senior IL'ite

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    Hi Jothi,

    ICICI is a good option to transfer money to India. We've used it & the money is transferred in 3-5 business days & above all it's free. You & the recipient will be alerted thru email when the money is transferred to the a/c.

    Western Union is also another option but i've heard that it's expensive, don't have a personal experience of that.

    Hope this helps & wishing your father a speedy recovery.

    Bye!

    Ragini.
     
  5. Tulasi

    Tulasi Silver IL'ite

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    hi Jothi,

    you can send the money by wire transfer it takes only one or two days. i have sent like this no issues you will also get the good exchange rate. only thing is
    you have to pay $30 wire transfer fee..

    hope this works
     
  6. jothi

    jothi Senior IL'ite

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    Dear Tulasi, Vandhana, Rajni, Srilak,

    Thankyou all so much for your response and ideas. I will definitely look in to that.
    I have an account with ICICI but my dad does not have an account there. How does that work then. Does he have to have an account to receive the money.

    Jothi.
     
  7. Vandhana

    Vandhana Silver IL'ite

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    Last edited by a moderator: Jan 25, 2008
  8. puni88

    puni88 Moderator Staff Member IL Hall of Fame

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    Hello,
    Money transfer thru banks would take time, if your father or any close relative doesn't have ICICI account, even if they have ICICI account and you have not sent the money earlier, then it would take time to setup the account connections etc. If you have citibank NRI account, you can send a DD to any person (again encashing DD would be time consuming).
    The quickest way would be western union. They would charge something like $30 for $300 - $3000.00, you can send to any name, that person should take some ID card and can get the money from the nearest western union.
    If you send money around evening, your parents can get money by couple of hrs when it is morning to them. But you need to use cash to western union to send the money, they would not accept Credit cards etc.

    Good luck.
    Punitha
     
  9. KrutikaRao

    KrutikaRao Senior IL'ite

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    I was not comfortable with ICICI after their use on goondas on customers.
    I have a CitiNRI account. I transfer funds from my US account to my NRI account and from my NRI account directly deposit into my parents accounts. It free and no-hassles.
     

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