Hello,

I have a student account with Post Finance. I want to transfer money from it to an Indian bank account (HDFC or ICICI bank)

Does anyone have any suggestions or tips on how to go about this? And any inkling of the charges involved, and if it makes sense to convert CHF to INR at Post Finance's end or to do so at the Indian bank's end?

Thanks and regards,
Kunal Bhatia

PS - Apologies if this is a repeat question. i searched around in the forums a bit, but couldn't find any info specifically for Post Finance accounts.

You can use money to india : http://www.icicibank.com/ https://m2inet.icicibank.co.in/m2iNe...tLoginForm.jsp

normally you will pay the charge in Switzerland and the money should be converted when it arrives on the other bank.

Sign up for e finance with la poste http://www.postfinance.ch/index.html.en

It will take a few days before you get all the stuff you need (little code reader , password, and number) but after that I do everything online and it is so easy. you can transfer money also to other banks outside of Switzerland!

Gee, Post Finance is behind the times then ... with ZKB you can choose whether the transfer fee is paid by you, the receiving account or split; and you can also choose in which currency to send the money. All depends on the current exchange rate for each bank, or how much you trust them to convert it at a 'fair' rate.
It may also be possible that Post Finance gives you those options as well, so look into it - and e-finance is a good idea, gives you more control (and you can do everything in English on it, if your English is better than your German or French!).

E-finance gives these options, except the split option.

They do give you these options but when my mother receives my money (car loan ) she gets it straight in Euro while I send in chf

Your mother's in Switzerland as well, or outside? If in Switzerland, don't understand ... if in the EU, maybe her bank converts it without telling her?

Good to hear e-Finance has those options too.

Ok..

If you are tranferring to a normal indian bank account...the transfer charges are around 5 chf for CS bank...not sure of Post Finance...
and the money gets converted on the conversion rate CHF-INR that day.
Also some amount is deducted from the transferred amount by the indian bank itself ,that are the conversion charges...i guess.

If you have an NRI account to transfer money it will be better as you have an option to keep the same currency and convert based on the conversion rate.the amount which will also be tax free.

Have you by chance transferred your CHF to your mother's EUR account?

Martin

u pay a small charge, try post finance site. however, it will transform to INR, once it changes the account. not complicated

Nope Belgian bank account , I send in chf she gets all in Euros

Unless she has opened a CHF bank account with her Belgian account she would receive any monies converted to EUR since that is the account currency she has.