The best way to transfer money to an Indian bank account??

#1 Mar 22nd, 2017, 08:03
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#1
I have hire a car in Karnataka for mid May

But the car hiring company requires a deposit of rs. 2000, and they need me to transfer about 10 days before the journey.

I live in UK and I only have a UK bank account, I would like to ask, how to transfer money to the bank account of the car hiring company? They gave me a bank account with a swift code, but my bank in UK charges 9 pounds as commission per transition. And the car hiring company doesn't have a paypal account

Hence I would like to ask, in stead of bank to bank transition, what is the best way to transfer money to India?
#2 Mar 22nd, 2017, 08:10
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Quote:
Originally Posted by Mimimiha View Post Hence I would like to ask, in stead of bank to bank transition, what is the best way to transfer money to India?
Ask the company ! What they have in place apart from a bank2bank transaction ?
#3 Mar 22nd, 2017, 08:10
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#4 Mar 22nd, 2017, 08:33
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Originally Posted by old india hand View Post compare
https://transferwise.com

https://www.westernunion.com/home.html
Thanks very much
I will use westernunion
#5 Mar 22nd, 2017, 08:59
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Originally Posted by Mimimiha View Post
will use westernunion



TransferWise .. higher or lower cost than WU ?
#6 Mar 22nd, 2017, 09:24
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Originally Posted by Mimimiha View Post Thanks very much
I will use westernunion
Before you use WU, make sure to execute a cash transaction; Many (if not most) banks, irrespective have a transaction fee for bank2bank wire-transfer. WU's currency rates are not the best; but you are transferring a very small amount ( <30GBP) so it might be a wash.
#7 Mar 22nd, 2017, 09:44
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Originally Posted by old india hand View Post TransferWise .. higher or lower cost than WU ?



TransferWise fee 2 GBP

WU fee 1.9 GBP

However, TransferWise offer better exchange rate .. close call.

Banks .. not worth mentioning.
#8 Mar 22nd, 2017, 13:41
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@OP: Ask the rental company to come up with something or simply tell them that you'll pay when you arrive and go to the competition if they don't agree. I mean, 2000 INR is a trifling amount, if they really insist on collecting that as an advance then it's up to them to provide you with a hassle-free way to pay.

On an unrelated note: I'm not certain that it's wise to pay anything in advance until you've seen and checked the car and the driver.
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#9 Mar 22nd, 2017, 15:29
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Some of us who regularly pay money from UK to Indian bank accounts use Money2india online. It works well.

Sorry about the exchange rate. Blame the Brexit voters.
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#10 Mar 22nd, 2017, 15:33
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#10
Better option would be to change company, which agrees to cash payment on arrival...
#11 Mar 22nd, 2017, 23:00
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I haven't paid the deposit of re.2000 yet
I guess the owner isn't happy as I was haggling the price hence he asks for a deposit.


I will get the quotes from other companies and see

At the end of he day, I do agree that, see the car and driver then pay.
#12 Mar 25th, 2017, 00:18
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Good grief, this has been chewed over a few times - do not use WU, from the US/UK/Au money2India wins hands down, but for this sort of payment if you have to pay a deposit/ show bona-fides just use a credit/debit card as you would at home (yes, they will accept them - if not find someone who does).

AndyD 8-)
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#13 Mar 25th, 2017, 22:16
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Originally Posted by a_f_d View Post Good grief, this has been chewed over a few times - do not use WU, from the US/UK/Au money2India wins hands down, but for this sort of payment if you have to pay a deposit/ show bona-fides just use a credit/debit card as you would at home (yes, they will accept them - if not find someone who does).

AndyD 8-)
Is it save to use a credit card on this case?
#14 Mar 25th, 2017, 22:54
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#14
I would not like to pass my credit or debit card details to an unknown person.

At least the online transfer is one step removed from your own personal bank/card/etc details.
#15 Mar 27th, 2017, 01:23
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Originally Posted by Nick-H View Post I would not like to pass my credit or debit card details to an unknown person.

At least the online transfer is one step removed from your own personal bank/card/etc details.
I assumed the payee had a client account - if not then pay them nothing. Cars and/or drivers can be hired with no problem.

AndyD

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