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What is the most efficient way to transfer money from India to Singapore?

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Old 14-10-2018, 10:55 AM   #1
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What is the most efficient way to transfer money from India to Singapore?

I have a "small business venture" in India, looking to transfer money from India to Singapore.

Thanks.
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Old 14-10-2018, 11:31 AM   #2
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How much are you talking about?
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Old 14-10-2018, 02:21 PM   #3
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I have a "small business venture" in India, looking to transfer money from India to Singapore.

Thanks.
Try InstaReM

Fee is INR750 for every INR100,000. Gives you wholesale FX rate.

Sign up as a Corporate and indicate staying address as India.
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Old 14-10-2018, 02:46 PM   #4
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How much are you talking about?
About 300-600 SGD every week.
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Old 14-10-2018, 02:47 PM   #5
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Try InstaReM

Fee is INR750 for every INR100,000. Gives you wholesale FX rate.

Sign up as a Corporate and indicate staying address as India.
Compared to Western Union, how does this differ? Thanks.
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Old 14-10-2018, 04:39 PM   #6
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Compared to Western Union, how does this differ? Thanks.
FX rate and even fees are a lot better, plus InstaReM is a digital service without need to visit the agents.
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Old 14-10-2018, 06:33 PM   #7
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FX rate and even fees are a lot better, plus InstaReM is a digital service without need to visit the agents.
You are obviously an agent for them.

Do share in detail how it works. I sign up, link a bank account and will be able to receive money from my partner in India?
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Old 15-10-2018, 08:22 AM   #8
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Indian rupee is not a fully convertible currency. So it is not so straight forward to transfer money out of India. I don't even know how foreigner businesses do it. I know how resident Indians can do it. There is a liberalised remittance scheme and the limit is 250k USD per year. Need to go to an authorized money changer or bank and fill some forms.

In OPs case I have no clue how you will do it. It is not straight forward that is what I can say.

Sent from Dont Take Any Of My Statment As Investment Advice. Do Your Own Due Diligence. using GAGT
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