Rupees to UK Pound Money Transfer
Blue_Max
India > Community Forums > India Expat Area
#1
| Member

Rupees to UK Pound Money Transfer

Hi all
I need to convert Rupees to UK Pound to send to my bank account in UK.
Rupees will be from NRE accounts that I hold in Indian banks.
Banks give a poor exchange rate. As much as 250 points below the FX rates.
They also charge high fees on top.

In the past, when converting UKP to INR, I fond much better rates through currency brokers in the UK such as Muthoot Global. As low as 80 points below the money market rates.

But I don't know of any that can convert from INR to UKP.
Does anyone know?!
Or any suggestions on any other ways to do this?
Thanks!

4 Replies

#2
| Learning... from others' experiences!
But, what would be the mode of transfer...?
#3
| Humble Genius
Other than banks, select FFMCs (full fledged money changers) are authorized by the RBI to perform outward remittances. The list for Kerala is here -

https://rbi.org.in/Scripts/femaview.aspx?femaid=24

Also look at the RBI website regarding outward remittances for residents before going ahead with anyone - https://rbi.org.in/scripts/FAQView.aspx?Id=66
#4
| Member
Hi,
Did you try to contact https://transferwise.com/? THey can help you may be.
Cheers,
J
#5
| Senior Member
Similar to Transferwise is Xendpay.com Might be even cheaper.

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