PolishForums.com
POLAND . The Unofficial Guide
Unanswered | Archives
Culture and Customs of Poland Witamy, Guest | PF Members | Gold Members

Polish Forums / Business, Economy /

What is the Cheapest way to send money FROM POLAND to INDIA ?


posts: 7

SatyanamThreads: 3
Posts: 11
Joined: Feb 23, 10
 Jun 17, 10, 08:36    #1
If any of the members can help my query i would be really grateful for your inputs. Thanks and kind regards

Satyanam

SeanusThreads: 22
Posts: 30,158
Joined: Dec 25, 07
 Jun 17, 10, 09:05    #2
I think Western Union operate only to Britain though I could be wrong. Some banks have such options. Sometimes it's not a matter of cheapest but more of having an option in the first place.

I know CHAPS, a branch of Nationwide Building Society in Britain, offer a service but I will warn you by saying that transfers can take up to 3 months to get to final destination, i.e India. India is somehow a special case in their transfer system, maybe it's due to clearance issues on the Indian side??

Poland is bound to have sth similar. Ask at the bank. Some postal orders are available but sb must sign for them at the other end and is a risky means of transfer. The banks may take a fair cut but if you opt for a standard transfer then there is a greater chance that your money will reach home.

I hope that helped, albeit in a small way.
OlafThreads: 8
Posts: 1,369
Joined: Oct 29, 09
 Pictures: 1
Edited by: Olaf  Jun 17, 10, 10:08    #3
Why not use a normal bank transfer? Isn't this cheaper than Western Union?

Bank transfer charge from a Polish bank costs between 0.25% and 1% of the amount, or in other banks it's fixed fee of 65PLN or in other between 20PLN and 200PLN depending on the amount.
Vaganti  Aug 10, 10, 13:00    #4
Olaf:
Why not use a normal bank transfer? Isn't this cheaper than Western Union?

Bank transfer charge from a Polish bank costs between 0.25% and 1% of the amount, or in other banks it's fixed fee of 65PLN or in other between 20PLN and 200PLN depending on the amount.


If it was that simple there wouldn't be any problem. But international transfers are made through SWIFT and in that case transfer is not made directly but through a number of corespondent banks. Everyone of them can charge you its own fee. So you can not predict how much will you pay for a transfer and there is no upper limit.

There is a number of remittance services offered by various indian banks (HDFC, Axis, ICICI, etc) most of them base on timesofmoney.com services, but to use them for transfer from Poland, you also need to use an SWIFT transfer (you can not use cheaper, faster and more reliable SEPA transfer).
I wish the Citibank Global Transfers were working in Poland. It is ridiculous that you can use it to transfer money from India to Poland but not the opposite way.

I thought that finally I would find an answer here, but as always it is a dead end.
SeanusThreads: 22
Posts: 30,158
Joined: Dec 25, 07
 Aug 10, 10, 13:14    #5
Also, as I said above, India is a special case. All other countries 'swiftly' expedited the procedure but it takes 3 months to get money to India from the UK. From Poland, perhaps even longer. That's through Nationwide Building Society as they have the CHAPS option.
OlafThreads: 8
Posts: 1,369
Joined: Oct 29, 09
 Pictures: 1
 Aug 10, 10, 16:00    #6
Well, if you fear that the corresponding banks will charge extra for the transfer then what's the problem - just contact your bank and ask what it'll be in total. I would not accept an answer that they don't know of course.
Vaganti:
I thought that finally I would find an answer here, but as always it is a dead end.
In 10 minutes you'll have an answer if you call them so stop moaning;)
sa11yThreads: 4
Posts: 191
Joined: Dec 12, 11
 Dec 13, 11, 15:18    #7
This thread is a bit old, so you may have found answer. If not - then if you want to transfer money between own bank accounts, try moneybookers.com
I've been using them transferring money from South Africa for few years now, never had problem.
You will need to submit some paperwork (passport scan, confirmation of address, might even be proof that you earned the money legally - like a contract, not sure as I did this quite a while ago). It takes approx 5 working days for money to appear on the other bank account, they charge small provision and you will lose few % on the exchange (as you don't have option to fix spot rate) but I still found them the cheapest of all options.



Home / Business, Economy / Unanswered [this forum] | Similar


Similar discussions:

Business Etiquette (Polish companies' dealings with clients in other counties)  Open an account from abroad (not arriving to Poland until the next 3 months)


Random: Question on allegro.pl. Have I actually paid?

Only registered and logged-in users may post here. Please log in or register.


27 [Guests - 23 / Members - 4] users on live forums now


Home | Unanswered | Archives | Random | Statistics Time in Poland: 04:07 / May 26

About Us | Contact Us | Rules, Privacy | Poland Advertising

© 2005-12 PolishForums.com