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Old 18.02.2017, 04:19
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Bringing Money into India from CH

Hey Guys...

Just wanted few feedbacks if any of have successfully tried getting around 15k CHF to India, without setting up a NRI account?
I wud be moving to India soon, so any suggestions on how to get money into India with low charges and rates would be awesome.
Heard Travellors Cheques are not popular here.

Thanks in Advance!
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Old 18.02.2017, 07:42
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Re: Bringing Money into India from CH

Bitcoin?
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Old 18.02.2017, 19:58
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Re: Bringing Money into India from CH

To transfer money to India you don't need an NRI account. You can use any means of money transfer, below are some of the known ones.

1. Any swiss bank will have international transfer facility but they will charge some amount and FX conversion may not be favorable.
2. ICICI Money2india
3. Western Union
4. TransferWise (This is a fairly new service and they provide good FX rates with min charges).

-Uday
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Old 18.02.2017, 20:55
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Re: Bringing Money into India from CH

Baggy trousers?
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Old 18.02.2017, 21:36
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Re: Bringing Money into India from CH

Simply take it with you and declare it at Indian Customs?
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Old 18.02.2017, 21:53
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Re: Bringing Money into India from CH

If it's foreign currency they were pretty relaxed about it for cash, just need to declare it. They only allowed 10,000 INR though, not valid in your case but just saying.

Why not just go there and use e-banking to transfer from your current bank to your new Indian bank when you settle?
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Old 18.02.2017, 22:01
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Re: Bringing Money into India from CH

You can carry up to 5000 CHF entering India and anything above the said amount should be declared. Not sure though if you will be asked to pay any amount/tax. You can share your tax details that you paid in CH and proof the amount that you carry. However, I personally wouldn't do that. Why do you want to carry cash in CH when your goal/wish is to convert to INR?

Also, you don't need a NR account to transfer this amount. you can transfer to resident accounts too.

TransferWise gives best rates compared to regular banks or any other exchange guys.
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Old 18.02.2017, 22:06
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Re: Bringing Money into India from CH

In case if you are worried about current rates and planning to carry the cash for now and exchange when rates are better, I recommend to leave the cash in your Swiss bank.

Anyways, you may need to maintain the account here for a while as you may have to pay few bills (like electricity, telecom, etc) and even you may get back some money (if you over paid for electricity or heating etc).

DO not close the account now and instead give power of attorney to one of your friend here and they can close the account for you later. Exchange the money when you feel rates are better and then let your friend close the account
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Old 19.02.2017, 16:59
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Re: Bringing Money into India from CH

Wow, Thanks so much for the infos guys!! Appreciate it
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