India Intermediary bank charges for money transfer
Hi All,
Does anyone know how much the intermediary banks charge in India for a transfer from HSBC UK bank to a non HSBC bank in India? The recipient bank doesn't charge for inward remittances. I was charged 7 USD by UK HSBC. I received less money than advised by HSBC UK. I was told by HSBC UK customer care, that the HSBC India would have charged as being the intermediary bank. Any experience ? thanks in advance Mittdee |
Re: India Intermediary bank charges for money transfer
Originally Posted by Mittdee
(Post 13129933)
Hi All,
Does anyone know how much the intermediary banks charge in India for a transfer from HSBC UK bank to a non HSBC bank in India? The recipient bank doesn't charge for inward remittances. I was charged 7 USD by UK HSBC. I received less money than advised by HSBC UK. I was told by HSBC UK customer care, that the HSBC India would have charged as being the intermediary bank. Any experience ? thanks in advance Mittdee |
Re: India Intermediary bank charges for money transfer
Originally Posted by Millhouse
(Post 13129984)
Better to not use an intermediary. Revolut or Wise will likely cut out those fees. Fees can be up to 50USD.
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Re: India Intermediary bank charges for money transfer
Originally Posted by Mittdee
(Post 13129933)
Hi All,
Does anyone know how much the intermediary banks charge in India for a transfer from HSBC UK bank to a non HSBC bank in India? The recipient bank doesn't charge for inward remittances. I was charged 7 USD by UK HSBC. I received less money than advised by HSBC UK. I was told by HSBC UK customer care, that the HSBC India would have charged as being the intermediary bank. Any experience ? thanks in advance Mittdee |
Re: India Intermediary bank charges for money transfer
Happened to me too while sending GBP to USD from HSBC to HSBC via Wise. HSBC have an intermediary bank they don't mention, charging $25. Probably the same charge for you.
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Re: India Intermediary bank charges for money transfer
Thanks all for your experience sharing. Appreciated.
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Re: India Intermediary bank charges for money transfer
Originally Posted by Pulaski
(Post 13129989)
Unless you're sending USD100k+ it is likely that the on-line remitters will give you a significantly better FX rate too.
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