sending money back home

8POSTS

8 years ago

Hello,

I am Tarun. I came to Bangalore a few months back. My family stays back in Malaysia. I'm having a difficulty in sending money back home. Should I choose a bank? or a money remittance company? Can anyone help in sorting things out for me as I'm too too confused.

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cvco Malaysia Expert

1237POSTS

8 years ago

If you have a bank account now, use it for wire transfer. Otherwise, try Western Union.

Tarunsonthalia New member

8POSTS

8 years ago

Hi CVCO,

Thanks for the info. But can you specify me which banks or other remittance companies you would recommend. This is a first timer for me. Which would be the best option?

Expatind Active member

71POSTS

8 years ago

There are many option you can transfer money to india in your bank account聽 using remit portals or CIMB bank via speedsend

Portal

聽 (Merchanttrade)

聽 (UAE exchange)

(Ria money transfer)

(Lotus)

All have different rate and charges depend if any promotion it will be less etc.

1 member reacted to this post

Tarunsonthalia New member

8POSTS

8 years ago

hello Expatind,

I just wanted to know that are banks the cheapest way to transfer money, because I don't want half my salary going in Bank charges. Also, could you share your experience of remitting money through a bank or a third party. What made you choose that service? What improvements have they gone through or you would like to see in future.

The reason to ask is, these pointers would help me make my decision about choosing a third party or a bank.

Thank you for replying

amgaitonde Member

2POSTS

8 years ago

Send through India international bank of Malaysia on jalan raja chulan.

They charge just RM 10 per remittance and you save on the overseas and local bank charges

Check the rates. They quote daily and you need to negotiate a few paise more as they play safe.

MisterStretch ViP

805POSTS

8 years ago

Maybank also is only RM10 for an international wire transfer.

There are probably some cheap remittance services, as there are many workers here.

I prefer MoneyGram, which has a low fee for direct to bank transfers, but even if it's a live pick up is much, much cheaper than Western Union.