We spent most of Sunday morning trying to figure out the most cost effective way to send money to India. Between the first kid and a sibling, the costs of sending money over there can nearly hit 3,000 USD. I can think of a lot more fun things to do with 3k!There are plenty of services out there for sending money to personal accounts, but not very many that will allow you to complete business transactions online. In the end, I just went with my bank. They charge a $50 transfer fee and couldn't verify that exchange rate, so I am not sure if we got screwed on that or not. In any case, it's sent and there is no turning back now on this process!
It's really hard to try to stay grounded during this early part of the process. I can't say "we're going to be dads next year!" without feeling the need to add "if we get really lucky". I'm trying to balance my excitement of possibly having a baby this time next year and the reality that it will likely take multiple attempts to complete our family. Optimism vs. Statistics. Either way, we know we'll be dads at some point in the future and that's pretty freaking exciting even if there are several bumps in the road on the way there!
C & B
It gets a bit easier as you go... well sort of. BofA has a flat fee of $35, the exchange rate has been pretty competitive I think. Just an FYI. good luck, I look forward to reading about your success!
ReplyDeleteGood luck with the money transfers - what a headache! I wish they would just take credit cards. I should find out tomorrow if my last transfer was successful... it has been a guessing game so far. HSBC charged me $30 for the transfer. Best of luck...
ReplyDeleteOur bank hoses us (I mean charges us) for $50/transfer as well. And I know what you mean about trying to balance optimism with statistics!! Not an easy game, that. But I believe with egg donors, stats are leaning toward your side a bit(moreso maybe than those of us with elderly ovaries trying to prod them into action)... so my fingers are very much crossed for you guys!
ReplyDeleteNO matter what - you eventually will be dads. That's the important part. Oh and it's all just monopoly money now :)
ReplyDeleteGood luck guys!
K
Good luck! If you're persistent, it'll happen. We're about where you are, but took years to get here.
ReplyDeleteYou might try looking into a credit union as opposed to a bank. Our fee is a bit less than that and they have a service where you tell them the minimum amount of INR you want to send so that the conversion always comes out to the correct amount on the receiving end of the wire. Just a thought. Best wishes!
ReplyDeleteHi Guys,
ReplyDeleteWe're in Australia and used "Money2India" for all our payments to SCI, about 20 in total and never had a problem. They have a floating exchange rate or fixed rupee transfer. The thing I liked is that all transfers are tracked. Everything is done online - you transfer from your bank account to Chase Morgan and they forward to SCI's account in India. I think the web address in America is "icicibank.com"
Cheers
Peter, Brad plus 3 (Jonathan, Oscar & 'Princess" Alice)