Hi All,
I am posting here first time.
I work independently for a foreign employer, he sends me the salary through wire transfer Bi-Monthly in my Citibank Savings account (my previous firm opened it and I continue using this). I noticed that Citibank is charging very high conversion rate. He wired the money to me on 5th or 6th April, I received it in my bank account on 7th. However, they charged INR 3,900 as conversion rate and transaction charge. This would cost me around 1 lakh p.a. I am planning to open a current account (as the income is more than 20 L p.a.). Can you please suggest me Banks with lower conversion rate, transaction fee and with Good internet banking. My father is saying to open the account in Govt Bank like Canara but I know their Customer Service so I am in a dilemma. I cannot use Transferwise etc because my employer would only send me money directly to my bank account.
Please help.... Sorry if this is not the right place but I feel this community have great advisors that is why posted it.
Thanks!
I am posting here first time.
I work independently for a foreign employer, he sends me the salary through wire transfer Bi-Monthly in my Citibank Savings account (my previous firm opened it and I continue using this). I noticed that Citibank is charging very high conversion rate. He wired the money to me on 5th or 6th April, I received it in my bank account on 7th. However, they charged INR 3,900 as conversion rate and transaction charge. This would cost me around 1 lakh p.a. I am planning to open a current account (as the income is more than 20 L p.a.). Can you please suggest me Banks with lower conversion rate, transaction fee and with Good internet banking. My father is saying to open the account in Govt Bank like Canara but I know their Customer Service so I am in a dilemma. I cannot use Transferwise etc because my employer would only send me money directly to my bank account.
Please help.... Sorry if this is not the right place but I feel this community have great advisors that is why posted it.
Thanks!