Scotiabank Funds Transfer [ICICI Money2World]

[johnnyCA]

Even I have opened Scotia account.
My case is similar to rookiemistake. However, I feel charges of ICICI are higher. I am looking at Bookmyforex to transfer the funds and I guess would need to open an account with Axis most probably..

I too feel ICICI rate is expensive

 

[NetMecca]

Something else to think about is perhaps open a foreign currency account in Canada, transfer your foreign currency, then once the money is here, start looking at the best exchange rate options.

 

[johnnyCA]

Something else to think about is perhaps open a foreign currency account in Canada.

Oh , I wasn't aware of this option. Thanks for the tip. Do Canadian banks open foreign currency account for all currencies worldwide, or just the top ones like GBP, USD, AUD, etc?

 

[yodheydhara]

Is Xoom available for transfer from India to Canada? If yes, you could use that.

 

[johnnyCA]

Is Xoom available for transfer from India to Canada? If yes, you could use that.

Xoom is backed by PayPal, which straightaway means hefty fees

 

[NetMecca]

Oh , I wasn't aware of this option. Thanks for the tip. Do Canadian banks open foreign currency account for all currencies worldwide, or just the top ones like GBP, USD, AUD, etc?

Not entire sure about all currencies, best is to pick your back and call them. Pretty easy to get an answer. I do know USD and Euro is possible. I am sure others would be also.

 

[APPNOV2014NY]

Xoom is backed by PayPal, which straightaway means hefty fees

Not really. Just made a transfer from USA to India. No fees but there was different in conversion rate. Official conversation rate was 63.94 but Xoom gave me 63.49

 

[yodheydhara]

Xoom is backed by PayPal, which straightaway means hefty fees

Not sure about how the fees compare to other institutions, but I have used Xoom and I feel that the fees are okay. Atleast xoom gives better rates.