SURYADEV Posted October 9, 2012 Report Share Posted October 9, 2012 Whats the best (ie low cost and best exchange rate) way to send money to India? In the past it used to be some bloke that your massi knew who would do it and give you scraps of paper as a receipt but these days I've noticed a lot of Western UNion offices providing this service. 0 Quote Link to comment Share on other sites More sharing options...
SAadmin Posted October 9, 2012 Report Share Posted October 9, 2012 Here is propa desi way in Canada and it turns to be cheaper. If its large sum i advise to divide the portions into 5 different transaction. Desi people have agencies and their contacts both in India and Canada. You go to their local office here in abroad then fill up the details in the form and details location/name of person who you want to pay, once agencies contact there make a payment in indian funds to the party there and you have full confirmation they made a payment in indian funds, you pay the local desi guys whatever conversion works out to be..!! :D 0 Quote Link to comment Share on other sites More sharing options...
SURYADEV Posted October 9, 2012 Author Report Share Posted October 9, 2012 Ah yes thats the old un-official, desi way. No paper records, cheaper costs and better exchange rate. I remember our family doing it when I was a kid. Felt very sneeky , James Bond spy type of thing to me!!! lol Is that still a common way ? coz i've seen every other shop in India is a MoneyGram or Western UNion. So our peopple must be using those channels alot too. 0 Quote Link to comment Share on other sites More sharing options...
unbreakable Posted October 18, 2012 Report Share Posted October 18, 2012 Ah yes thats the old un-official, desi way. No paper records, cheaper costs and better exchange rate. I remember our family doing it when I was a kid. Felt very sneeky , James Bond spy type of thing to me!!! lol Is that still a common way ? coz i've seen every other shop in India is a MoneyGram or Western UNion. So our peopple must be using those channels alot too. Its called money laundering and still happens as Cash is untraceable. Best way is Moneygram or Western Union, or straight bank to bank transfer, but the EX on BT won't be great. I use moneygram or western union, depends how much I want to send. Last time I used the desi way, my massi ended up with 3000 rupees which were fake. Luckily I knew the uncle here and I paid him a friendly visit. Thats the only downside. As the black money way has no trail, say somebody reports your relative or friend to the police, etc for income of unearned money, where will they provide proof, etc same goes for you. I stick with the safe option. Come to think of it, sending it the "desi" way doesn't get you that much, but it depends on how much you are sending. People do it with land too, they sell their land in India and collect in the UK/US/Canada in local currency, thus avoiding tax and other fee's, we have solictors claiming its all legal, but thats a lie. My uncle sold all his land in India for something stupid like £150k per acre, he sold 20 acres in total and he didn't want to pay tax, etc for moving the money to the UK. Another shady uncle knew some rich indian businessmen, who gave him the money here, for a fee and took his indian currency in India, via their people... dodgy world my friends, dodgy world... 0 Quote Link to comment Share on other sites More sharing options...
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