Can I use electronic transfer to get money transferred from my friend in the UK into my account and then transfer the money locally to his family by cheque/cash? His family does not have an account that enables electronic transfer.
2006-11-27 22:53:57 · 5 answers · asked by Arun S 1 in Business & Finance ➔ Personal Finance
As long as it is legal money you should not have any problem. Generally it is advisable not to get involved in such transactions unless you are sure it is genuine and lawful money.
2006-11-28 03:58:22 · answer #1 · answered by cvrk3 4 · 0⤊ 0⤋
Defenitely, u can get money by telephonic transfer either.but he or she should have an account in the same bank (for eg. IDBI, or ICICI) If the person has an account in U.K in IDBI Bank, and a person in Hyd is having an account with IDBI Bank then he can transfer by phone from UK IDBI Bank to Hyd IDBI Bank so that the transfer would be done within 2 - 3 hrs.
2006-11-27 23:14:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There are many banks such as ICICI, HDFC & NBFCs such as Western Union provide electronic fund transfers.
I recommend to use ICICI's money2india.com. It is very trustworthy and more reliable. I did transfer money using money2india and the total transaction was done in less than a day.
2006-11-27 23:18:51 · answer #3 · answered by Srinivas G 3 · 0⤊ 0⤋
do not indulge in any fund transfer on behalf of your friend. If it is illeagal funds then you will be in prob. stay away. If its your fund ask the bank they may help you better.
2006-11-27 23:19:34 · answer #4 · answered by archana3k1 4 · 0⤊ 0⤋
As long as it is not money laundering.
2006-11-27 22:56:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋