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Old 06-12-2013, 10:45 AM
nrmarrivada9 nrmarrivada9 is offline
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I experimented with Remit2India, HDFC Direct Deposit, and Moneydart.

Remit2India is the worst. Whenever you make a huge transaction the money is held hostage till they make a good profit out of it. I used it for about two yrs and switched to Moneydart on friends recommendation. I have been using it since an 1.5 yrs and have no complaints so far.
1) Exchange rate is better than the rest 2) Exchange rate is fixed on the day that you ordered the transaction. 3) There is a fee of $15, but that is a coupon code that brings the rate to $5. 4) You could call and request them to expedite the transaction because of which transaction could be completed in 24hrs (if you call before 2 PM).

HDFC Direct deposit is the worst.

My friend uses SBI NRI account. SBI gives a rate better than that of Moneydart and the transaction time is also than 24 hrs per the process that he walked me through. It was pretty impressive. SBI requires that you maintain $1000 deposit to avoid transaction fee.

- Naveen Reddy
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