Hi,
As per my knowledge, for the time being Wire / Swift transfers are the fastest possible mode of transfers (except Western Union). The delay is likely because the money from Mexico may not come directly to the Indian Bank. Its likely to be coming via one intermediate Bank.
In India we can't have International Banking account nos. (IBAN - the big 22 digit account nos.). So an instant online transfer from any international account to an Indian account is still not possible (as per my knowledge).
Some banks operating in India allow online international transfers but only from people having accounts in their oversas branches. So if you can arrange to open one overseas account in US / EU (not feasible for small business like the one I have) then you can receive money instantly transfered to that international account having IBAN. Subsequently you can access that account from India to transfer the money to your Indian account. I think its better to opt the Swift transfer mechanism for the time being until our Govt. opens up our economy further.
Another possibility is to request the client in Mexico to transfer the money from a different bank account (if they operate thru multiple banks). This once helped me to considerably reduce the transfer time for transfers from France.
Paypal is good for paying money but bit complex for receiving money in India. Its also much slower ( because the purpose is different) than Swift Transfers. .
Best Regards 😄
Swarup
Kolkata
As per my knowledge, for the time being Wire / Swift transfers are the fastest possible mode of transfers (except Western Union). The delay is likely because the money from Mexico may not come directly to the Indian Bank. Its likely to be coming via one intermediate Bank.
In India we can't have International Banking account nos. (IBAN - the big 22 digit account nos.). So an instant online transfer from any international account to an Indian account is still not possible (as per my knowledge).
Some banks operating in India allow online international transfers but only from people having accounts in their oversas branches. So if you can arrange to open one overseas account in US / EU (not feasible for small business like the one I have) then you can receive money instantly transfered to that international account having IBAN. Subsequently you can access that account from India to transfer the money to your Indian account. I think its better to opt the Swift transfer mechanism for the time being until our Govt. opens up our economy further.
Another possibility is to request the client in Mexico to transfer the money from a different bank account (if they operate thru multiple banks). This once helped me to considerably reduce the transfer time for transfers from France.
Paypal is good for paying money but bit complex for receiving money in India. Its also much slower ( because the purpose is different) than Swift Transfers. .
Best Regards 😄
Swarup
Kolkata
Hi,
Forgot to write that its easier for your client's bank in Mexico to track the transfer. As per my knowledge, the delay is normally attributable to the transferring bank.
In case of any problem the transfer will return back to them - normally no chance of a transfer to a different account. .
Best Regards 😄
Swarup
Kolkata
Forgot to write that its easier for your client's bank in Mexico to track the transfer. As per my knowledge, the delay is normally attributable to the transferring bank.
In case of any problem the transfer will return back to them - normally no chance of a transfer to a different account. .
Best Regards 😄
Swarup
Kolkata
