How long does it take for TransferWise transactions?
There are multiple factors affecting the speed of international money transfers made with TransferWise (e.g. currencies involved, amount, day of the week, time of the day, verification, payment method, personal or business transfer…)Furthermore, speed of transfers is one of the key things that TransferWise is constantly improving and that will keep getting better over time.For example (depending on multiple conditions) transfers made among the most common currency routes (as GBP → EUR) could actually be delivered to your bank account in just a few minutes ⚡️If you want to see the delivery estimate for a specific transfer, follow these steps:Create a free account on TransferWiseGo to the first step of the transfer flowChoose the currencies and amount you want to send / receiveCheck the delivery estimateTip to get your money faster: if you send money with “instant” payment methods (such as debit or credit card), TransferWise will receive the money right away and the transfer will immediately be on its way to your bank account!
How much time does an International Wire Transfer made from USA to India (HDFC Bank) takes?
Although there could be contradiction to this answer:24 hours = If the money is sent by an NRI into their NRE/NRO account.3–5 Business days = If the money is sent by a foreigner from their bank account to your bank account.7–10 business days ( as I have experienced myself ) = I was in london last year when I wire transfered the money by visiting the bank to my wife here in India. And it took more than 8 days time, as far as I can roughly remember.The other way:I was working as freelancer for long time. And whenever someone wants to pay me quickly for a quick service, I used to give them 2 options: 1. Western Union 2. XOOMIn case of Western Union, it was quite easy to collect money in next 10 - 15 min, as there are many agent locations for western union & if you are standing at a Western union agent location by providing the MTCN.IN case of XOOM, it was always painful. I had only a PNB bank as a centre from where I would have received it. And the Branch Manager was the only person who had to approve it. My experience was worst. Everytime I used to visit there he will make sure to make me wait for min 2–3 hours to collect the money and sometimes, I was asked to come next day.
What is the best way to transfer money from elance/oDesk to my bank account/credit card in India?
An old question but I hope this answer helps other freelancers. These suggestions may be applicable to any freelancer (US, Europe, Asia...). Also, want to let you know that Payoneer is great for receiving payments from Amazon, Commission Junction and so on. Note: Elance-Odesk is now rebranded to Upwork.Payoneer Mastercard is great for fast withdrawal of small funds $100 to $400. You can withdraw more amount if your local bank if your bank has higher withdrawal limit for MasterCards. Payoneer is the quickest way to withdraw freelance earnings because you can load the money into your MasterCard as soon as you get paid on Elance or Upwork."The "Immediate Load" option lets you withdraw cash withing few hours- otherwise, you can use the "standard load" option which is free but takes two days to load money, which is still a lot faster than Wire Transfer (5-10 days). Because each Payoneer MasterCard ATM withdrawal carries certain fee, make sure to withdraw the highest amount possible at one go. You can also earn a reward of $25 if you sign up via a Payoneer affiliate link. For detail instructions, read: How to Apply and Get Payoneer MasterCard for Free Payoneer also lets you withdraw money to your local bank. However, this service is not available in some countries. Recently, India and Bangladesh got the Payoneer Local Bank Transfer option so we can expect to see more countries added to the list.Use Elance/Upwork (Odesk)Local Currency Transfer for up to $700 or less. This method is free to use once every month after which you are charged $5 for additional transfers. Your local bank might also charge certain processing fee. The Local Currency Transfer method takes 7 to 10 days. Use Elance/Upwork (Odesk)USD Wire Transfer for above $1000: $25 fee is charged to non-US freelancers. Your local bank might also charge certain processing fee. The USD Wire Transfer method takes 5 to 7 days.Skrill is quite cheap as long as your personal account is not changed to merchant account. Skrill considers freelancers as merchants because they sell services to clients. Once your "Personal" Skrill account is changed to "Merchant" account, you will be charged extra fees which makes Skrill withdrawal quite expensive even compared to Elance Wire Transfers. Skrill Swift transfer takes 7 to 10 days. Fo detail explanation of each of the above mentioned withdrawal/payment methods read: Best withdrawal methods for non-US freelancers
How long will it take for an international wire transfer reach my SBI India bank account?
72 hrs. Approximately
How can I transfer my money from UAE to India easily and cheaply?
UAE is the land of opportunity for many ex-pats who come here to work and save money, especially from developing countries such as India, Bangladesh and Pakistan. It is therefore, not surprising that there is a great demand for money transfer services to and from these countries. Families back home want to be able to send money to their relatives living and working in UAE. Similarly, every pay-check day, there are lines of ex-pats waiting to send their hard earned money home to their families.Previously, the only way to do this was to use the services of a bank, which could be an expensive option. But nowadays many money transfer services and banks offer best exchange rates and lower fees that you need to know before doing any transaction.There are couple of things you have to keep in mind before doing money transfer like-What is the cheapest way ? Depending on your sending amount, what is the fastest money transfer service because time can mean everything. What are the transfer methods available ? Is your final option is the best option for sending money ? There are many things need to think of, while we are thinking about the cheapest way then isn’t it great if anybody tells us the option that meets our requirement and can we believe it without any hesitation ?Here is the best decision maker ExchangeRateIQ for you for helping in decision making. It does all calculation for you that you need to do while doing money transfer.The cheapest way for sending money from UAE to IndiaSee in the below screen shot that Kotak is offering best value for your money transfer at this time from UAE to India.Similarly, when you want The fastest way from UAE to IndiaRemit2India takes same day for money transfer which is the fastest way at this time in below screen shot.You just need to be updated regularly about exchange rates and transfer fees with best money transfer provider. It is also a hectic process to go every money transfer website but no worry ! Because ExchangeRateIQ gives you this facility to get best exchange rates in your inbox now. You just need to provide your email address once and you are all set to GO.Get best exchange rates in your inbox daily from UAE to India now !Using all the facilities of ExchangeRateIQ with best money transfer service, you need not to worry about being cheated or stuck in fraud anywhere. So do your money transfer with best money transfer service which will offer you higher exchange rates and lower fees.
Why do online services take 2-5 days to refund your money but takes only 5 seconds to debit from your account?
The short answer is: risk and the system.The longer answer is: it doesn't.I know those aren't the sexy answers you were looking for, but they are accurate.When money is “debited” because you swiped a card, it doesn't actually leave your account immediately. It gets allocated in banking database software to look like it has been spent, and therefore is unavailable to you. This has proven to make the financial institution look fancy and hip with technology.**poof** money gone. That is what it looks like to you. But in reality your money is still in an account designated with your name on it. That night, or sometimes with weekends or holidays, a few days later, the money is moved to the merchants bank. Assuming it is a card transaction, the money is guaranteed, but with ACH depending on how it's done, it could be non-guaranteed funds which then could add a few more days to abate credit risk.The following day, the money is usually credited to the merchant. Technology has sped up some of the money movement, but it takes at least 24 hours and usually 2–3 before it is firmly available at the merchants bank. In some cases it even flows through processors’ accounts and that delays it even more.Why does it take 2–5 days to get your money refunded? For the same reason the merchant isn't paid immediately when you buy something: the money isn't at your bank and available to them yet. once it is, they make it available to you. Many banks get the credit but wait to give it to you until the next morning. This makes their ledger balances bloat a bit, and they can lend the money to another bank overnight and make interest on it, then give it to you the next morning, keeping the earned interest themselves.The risk involved to banks i created when the money bounces between institutions based on claims made by both parties (consumer and merchant). If the money isn't available, someone is left short, so they can hold it to minimize that risk as well.
What is the best way to withdraw money from freelancer.com in indian currency?
Sorry this is not the answer for your question. But this answer will do good to a lot of people.Never ever go for freelancer .com. I’m a student who did web designing on freelancer .com in my free times. You can see it is the biggest market place and all. But it is the biggest scam. Please google for freelacer .com scams. You will find a lot of scams about freelancer .com. It is not the employers or the freelancers who does the scam. It is the platform. I’m writing this post because I was also cheated by freelancer .com today.About my experience:I was awarded 3 separate projects by a client from uk. I did the job and received payment for all the 3. It was 20GBP + 60GBP + 100GBP =180GBP. After about 30 minutes I requested for cash withdrawal to my bank account. When I looked to my transaction history, the freelancer has taken all this money back. When I contacted freelancer support, they told that the clients account was closed and they have taken my hard earned money according to the terms and conditions I accepted when registered on the platform.I’m a person who believes we should not tell something like this without proofs. I’m attaching my transaction details and the chat with freelancer support along with this post. Click on the image. You can read it easily.
How safe is it to pay a bill over the phone by giving them your bank routing and account number?
Since today is Saturday, you need to wait at least till Monday or Tuesday. Banking transactions don't happen over the weekend. You are probably okay giving that info to the credit card, but check by phone is one of the worst ways to pay your bills. For starters, there the receiver often charges a service fee -- some rather high. Second, you have given them direct access to pull from your bank account. Lots of opportunities for problems. They can take more than you authorized or duplicate payments or pull another payment next month ... In the future, you may want to check into online billpay thru your bank. Most banks offer it free. You can schedule payment for all your bills, even set up auto pay for recurring bills like rent or car payments. Yet you have control and can change or cancel up to a couple days before the due date. Plus you have a papertrail and can monitor payments.
Do Indian banks accept cheques in USD denomination?
Yes, they accept. Processing takes time. Prefer online transfer if you have an option.One of the services rendered by banks as part of their normal banking operations is collection of cheques deposited by their customers, some of which could also be drawn or payable on banks that are outside the country. Such cheques are called foreign currency cheques and, presently, a significant part of these cheques are US-Dollar denominated payable by banks in the United States of America. RBI has advised banks to refine their USD cheque collection procedures and frame their own USD Cheque Collection Policy covering aspects like mode of collection, collection period, charges for collection, etc. This policy shall be made part of their regular Cheque Collection Policy.Timeframe for collection of USD cheques will vary depending on the collection mode. The charges levied by banks for collection of such USD denominated cheques are dependent on the type of collection arrangement chosen by customers and the number of intermediaries (correspondent banks) involved in the collection process. Each of the central banks will levy their own charges for facilitating the process of collection. All these charges will be in turn levied by the collecting banks in India from the customers. The customer’s account is credited net of collection charges (proceeds minus collection charges)Read Reserve Bank of India for more details.So?Just visit the branch and deposit the cheque like any other cheque. But, there will be cheque handling charges and process takes time. I handed over few $100 notes in HDFC Bank and they took 3 days to credit to my account. Guessing it will be more duration in the case of a cheque.Alternative better solution:Please read How do I receive money to India from US?Go online. Ask your client or the person paying you to link their bank account on Xoom after creating an account. They can transfer up to $6000 per month from one account.Advantages:Better exchange rates than the bank where your cheque is deposited.Zero charges for transactions above $1000.Zero processing time for HDFC and ICICI Banks in India. Yes, Instant transfers.Max. 4 business working hours in India from the moment he transferred the money for all other bank accounts.Dollars(currently $25) to the person for first transaction.