Jul 13, 2023 10:00 AM
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I have tried several methods and all of them fail on their promises or have some sort of glitch or the other. For example one just wouldn’t accept the ID proof of the sender even though he punched in the numbers right. As for others, they claim to make “instant” transfers but don’t.
However as a base rule, keep the below factors into consideration before proceeding with the transfer.
You should have a legit Indian account from one of the top banks and with a good standing. It should not be an dummy account lying unused for several months with no transactions.
The Indian bank account should preferably be one of the top banks(SBI for nationalised banks; HDFC Bank, ICICI Bank, etc among private banks). Although not needed, it would be better if the banks are SWIFT enabled so that you don’t go through the hassles of having intermediary banks.
Wise is perhaps the best of the lot right now and it has been tried and tested by me thrice over a period of 3 yeaRs. Western Union has this setback that the person has to visit one of the branches and get the amount in the form of cash. I suppose they have also introduced direct transfer to local bank accounts. But given I haven’t tried that, I can’t comment on the same.
A demo of the transfer process and the speed of transfer for Wise is there in this video:
