money issues
 

Hey

Just a quickie question.

How much money can I withdraw out of my ICICI account per day? Thinking of flying to India to try and bring some cash home (converted into pounds of course)

Cheers

Re: money issues
 

http://www.icicibank.com/pfsuser/ici...ay/sal_r&f.htm

hope this helps

Re: money issues
 

At todays rate-68rps to £1 don't think I would be taking much out of the bank to change back into pounds. :eek:
Just looked at our bank statements and 22,000 it the largest we ever took out quite a few times when we were buying furniture etc so would guess that is it.

Re: money issues
 

emsirrah..totally disagree, this is the best time to change your rupees back to pounds.
If you change 1lakh rupees
at R68 you would get £1470
at R80 you would get £1250
at R85 you would get £1176
Definately do it now if you can !!
regards
Indiapurple

Re: money issues
 

I totally got that the wrong way round. :curse: silly me. sorry.
Thinking of it from changing it to rupees. Yes of course you would have to give less.

Re: money issues
 

You got the "telling Mitzy to f-off bit" wrong too, it happened on 15th Nov. 2008. Thought it sounded familiar!
Love
J5

Re: money issues
 

Would like to start a new thread of how to transfer money from UK when the rupee is on a high in Monsoon. Have heard that some people have only been charged as little as £10? Anybody got the names of the banks which transfer to HDFC Goa for that amount.

Still have problems with site, cannot start threads etc.

Re: money issues
 

Hi Noni try ICICI we transfered money out with them last year and it was about £10 but we have an account with them:thumbsup::thumbsup:

Re: money issues
 

We transfer via Citibank. The transaction is instant and online- you can log into both accounts and see the money transferred in seconds. There are no charges and we normally get the best rate that way. They should be able to help even if you don't have an account with them

Re: money issues
 

Really am having a "senior moment" day today J5 - must have been too early in the morning. Will go and have a look. Some of these threads are being resurrected after a year and I never look at the dates - until it is too late it seems.

Re: money issues
 

we use ICICI as well but our last transfer we got a v. poor rate - Rs. 69.5 where on the same day we got Rs.72 for a small withdrawal on an ATM (good old Nationwide!)
Think I'll talk to CitiBank or Axis

AndyD 8-)#

Re: money issues
 

the best bank in Goa for FNs? which is it??

Re: money issues
 

IDBI never had any problems and the service is brilliant:thumbup::thumbup::thumbup:

Re: money issues
 

I HAVE different bank accounts here,HDFC and ICICI.

Hdfc are by far the best,excellent service and nothing is too much trouble for them.As for icici,totaly useless,we have been trying to change our address with them for the past 8 months and it still hasn'nt been done.

John

Re: money issues
 

I think you will find that under Indian financial laws, you are required to hold a valid visa whilst operating a bank account.

Strictly following the letter of the law you should close your bank account before one visa ends and open a new one when you return.

Different banks have different attitudes to this situation, some ignore it, some are aware and rigorously enforce it, some deny the law exists, etc. Bear in mind, its in their interest (sic) to get hold of your money, like any bank. In theory, having a UK ICICI bank account doesn't alter any of the above.

The law involved is FEMA (Foreign Exchange Management Act) which is available on line if you search. The wording is in plain English and straight-forward.

With the Indian Authorities closing in on everything foreigners do here, especially the British, please be careful, we have heard of some "panicky" situations.

If you simply want to access your money while on holiday, a Nationwide Flex account allows you to draw from ICICI atms (and it would appear, some others) free of charge and at good exchange rates.

If you are trying to gain from the higher interest rates available here, then please accept that there are risks involved, not just with the "credit crunch", as Indian banks do not offer the guarantees given in the UK, but also the "illegality" of having a bank account without a valid visa.

J5

I posted this on HT yesterday as so many of the "happy-holidaymakers" were extolling the virtues of their Goan bank accounts. Thought it might be relevant to this thread as well. Quite happy to be told I am wrong, but please check first, before you do!

Re: money issues
 

everything you wrote is a valid and useful information for me, so thanks a lot!!! :thumbsup:

Re: money issues
 

hi j5 i would be very grateful if you could advice me on how to get my money out of Goa.The developer says he cannot transfer it back into my bank account in the U.k. but will give it to me if I go to Goa. I don't have a bank account in
Goa it is around 30,000pounds the oringinal cash was sent directly from my bank to the developers bank




hi j5

Re: money issues
 

Good evening Bijou!

Oh dear, I have bin and gorn and given the impression I know about banking?
The extract was based on some info I found accidentally a few months back, which after a few discussions convinced me NOT to run a bank account in India.
I know many many others do, and good luck to them.

There are various ways, I think, most of them quasi-legal. Probably best to give it a few days and see if someone who knows what they are talking about gives a more definitive answer.

With the p*ss-poor exchange rate at present, this is very good for changing rupees into pounds (you need less rupees to buy one pound)

If you are not talking profit here, and I gather you are not, there should be few restrictions?
Regards
J5

Re: money issues
 

bijou1,

Your builder CAN return your money through normal banking channels - he would've had a Foreign Inward Rmittance Certificate when the money originally went into Goa - you should INSIST on having your money returned this way as you do not want to be in Goa with just over two million Rupees in cash :eek::eek::eek:

Best of luck

Hemingway

Re: money issues
 

That's what I thought. But was not sure.
How about trying to get your builder to accept this as the correct approach and then coming over to make sure it happens?
J5

Re: money issues
 

This as all been post earlier in this post. Sorry but this is getting boring each and every member on here as given advise
Please go back to the start of this thread:curse::curse::curse::curse::curse:
Now Im sounding like J5 or Douglas:wub::wub::wub::wub::wub:

Re: money issues
 

Dear Aunt Noni,:wub:

I am filling my expenses claim and wonder can I claim for "my" second home in Goa ?
Although I have tried to comply with the law (?:rofl:) over there, I feel I am now getting Sh1t on over here as well :thumbdown:

Your help is appreciated

Robin.D.Votor M.P ( Fidlingham)

Re: money issues
 

Mr. Fidlingham, you claimed £800 per month for a non existant mortgage, us oap's only have £400 a month to live on. you try it mate.:banghead::curse: please can we have expenses to fly to Goa to save on heating and cheap food.:fingerscrossed:

Re: money issues
 

My father-in-law who is not an M.P. but is 74, uses his winter fuel allowance towards the cost of running his AC in Florida from November to March! :scaredhair::scaredhair::scaredhair:

Regards

Hemingway

Re: money issues
 

He has to keep his home heated whilst away :thumbup: - and he has paid all his working life for the privilege. :frown:

Re: money issues
 

Just because you can't escape the british weather, don't take it out on f-i-law. :o Think he is a pensioner poor old sod not like these loaded MP's with their noses in the trough what he gets for his winter allowance is what most of them spend on lunch. :scaredhair:

Re: money issues
 

Not in Florida but me too - yippee :thumbsup:

Re: money issues
 

[QUOTE=noni;7575065]Just because you can't escape the british weather, don't take it out on f-i-law.QUOTE]

Wouldn't dream of taking out on him - just envious at the moment, not of being 74 , but of spending winters in sunny warm weather - infact in 'X' years time, I hope to be spending my own winter fuel allowance on running AC somewhere warm. . . . . . . . . . .

He's being doing his winters in the sun every year since the mid 1980s & if I can be in anything like as good health as him when I'm 74, I'll be well pleased!

Regards

Hemingway

Re: money issues
 

[QUOTE=hemingway;7575233]:thumbsup: