Repatriate to India

infoUser123

Registered Users (C)
#1
We plan to return back to India in couple of months after having stayed in United States for 7 years. What are the possible ways to transfer our money to India and maintain in US $. I understand from various websites, that travelers cheque could be taken and deposited in RFC accounts, however it needs to be declared in the customs. Now my question is do the Indian customs impose any duty on the traveler's cheque, or is it just for record purpose? What are the other options besides traveler's cheques?
Any inputs are appreciated.

Thanks in advance.
 

ginnu

Registered Users (C)
#2
We plan to return back to India in couple of months after having stayed in United States for 7 years. What are the possible ways to transfer our money to India and maintain in US $. I understand from various websites, that travelers cheque could be taken and deposited in RFC accounts, however it needs to be declared in the customs. Now my question is do the Indian customs impose any duty on the traveler's cheque, or is it just for record purpose? What are the other options besides traveler's cheques?
Any inputs are appreciated.

Thanks in advance.
if you have NRE account with ICICI bank then you can send money to your account directly from US. if dont have NRE account then you can open it with ICICI bank and then transfer the money from US bank to ICICI bank through "Money2India" and once you are in India inform the ICICI bank to convert your NRE account to RFC . FYI in Foreign Currency (RFC) account you can keep funds in foreign currency. if you are not going to keep the funds in USD then NRE account is better option to send money and get it converted to Indian rupees.
*** If you take Traveler checks I think you need to declare to India customs and limit is 5000 or 10000 USD and need to get the reciept so that you can deposit them in Bank.
 
#3
Check out HSBC Premier. This is a really cool service that allows you to transfer between international accounts unlike any other bank I've used.
 
Top