We have recently moved to US on a long term assignment and we have a home loan account in India, which would need monthly payments to be done. In order to do that we will have to send the dollars earned in USA back to India as INR. While we have some commercial agencies like PayPal(Xoom) which makes it really convenient and fast to send the dollars to an Indian bank account, but it does come with a heavy fees.
Since our payments are scheduled, we could plan it a couple of days before and carry out the same so time is not much of a concern for us. So basically which is the cheapest and hassle free way of doing it? The Swift Code concept looks good, but I am not exactly sure how it works. Any other ideas that could help us!!
Let's look at the cheapest options available at the moment because as said by Mark, cheapest is not always the most hassle free, so unfortunately we can't have both!