Thursday, December 8, 2011

What is the best way to receive money from India and how long does it take?

I am trying to set up a company offering various services to the Indian market, but require them to pay in advance of receiving the service. I was just wondering what the most effective way of receiving money from them is? I have thought about cheque but I don't want this to be the only way as there is the obvious issue that I have to wait to arrive in international mail and then for it to clear before I can commence my side of the bargain - which would slow the whole process down. I'm not sure how prominent things like paypal is in India so am unsure whether this form of instant payment is viable. Is a bank transfer feasible - would one bank be better to go with than another and how long does a transfer take from India (PS is it safe to send them my acc. details and sort code?)? Are there any other safe but effective and fast ways of receiving money from Indian customers that anyone may advise me on? Many thanks in advance for all your help.||| Extract from web site; Moneysavingexpert.com - Lloyds TSB has teamed up with Indian bank ICICI to allow zero fee currency moves via its Indian Banking service.聽 You need to open a special Lloyds account.聽 It's not available from all branches, but mainly those in聽areas with a high Indian ethnic population.聽|||stuff the cash into a suitcase and get on an aeroplane, seems easy enough to me.

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