Sending wire transfers from India

[Keral_Patel]

Hello,

I am from India and I have some bank account here and there.

The issue is that I am able to recieve the wire transfers to my banks fro abroad. But when I wanted to send the wire transfer for a purchase of a domain name they told me that I cannot send the wire transfer out.

Has anyone ever sent some wire transfer from their Indian bank account to abroad. And if yes then please mention the bank name I will open an account in that bank.

Thanking You.

 

[-ET-]

You cannot send wire transfers out sitting at home IMO in indian banks.you should visit the bank and put a wire transfer request.
There is a charge of 1300rs-4000 for transfers upto 12000$.and you need to specify&verify the reason for transfer if the transfer is not for education or medical purposes.

Hope this helped.

 

[Keral_Patel]

You cannot send wire transfers out sitting at home IMO in indian banks.you should visit the bank and put a wire transfer request.
There is a charge of 1300rs-4000 for transfers upto 12000$.and you need to specify&verify the reason for transfer if the transfer is not for education or medical purposes.

Hope this helped.

Yes the bank people told me so.

So if I am buying some domain name. What you think should I supply as a proof.

EX: If I send money on sedo or afternic or to some seller on forum. I don't have any proof in advance or any documents that I can show them.

 

[-ET-]

You need to show I.T returns & some photo identity.but it may vary from bank to bank.

 

[Keral_Patel]

Got it. I have I.T. returns and my PAN card as photo identity. Thinking to try it out tomorrow. I heard from another forum that someone has successfully done this via HDFC bank.

Thanks -ET-

 

[-ET-]

Good Luck.

 

[buysellfast]

what you need is a letter from your CA, HSBC needs a fax document stating that the money is tax paid something like that,when we invest in india and take out money, thats all they wanted and you can remit upto 100K USD per year. for local residents you can also remit monies now to make purchases overseas.

 

[Keral_Patel]

Humm.... its confusing as in the current running year. I cannot show that it is tax paid. But maybe I can show them that I do pay taxes and maybe my last year's tax receipt they can see. As for now till 31st march all the money I have are not going to be tax paid. I will inquire though.

 

[buysellfast]

They simply need a letter from your ca stating that, as long as your ca can state that, the bank takes the responsibility away from themselves and will let u do the TT.

If your amount is small, you may not even require all this. it is very very easy and legit to do TT's these days in India.

 

[Keral_Patel]

Thanks. I will get the stuff needed. Have called the CA though. Waiting to hear what he says.

Thanking You.

 

[rdthewall]

@TS, can you update me with the situation. I am facing similar problem and would be glad if anyone can help me out.

(I do realise that I am bumping a pretty old thread, but had no other choice as TS and me share the same problem)

 

[SiberForum]

I suppose the procedure of sending wire depends on the bank you are client of.