You might consider using Wise, the total fee was only $11 for my $200 order, and Jagdish’s company is already setup on Wise.
All money transfers from country to country involve transaction fees, whether it is an ACH, wire, or company such as WIZE, etc. Unfortunately, these transfer fees are often hidden or not easily seen. The recipient, in this case, Jagdish Nikose in India will have no idea what a particular transfer fee will be. He is only quoting what he needs to receive in his account.
There is often a currency exchange loss also depending on what currency is transferred and the conversion fee on his end.
I have been dealing with Jagdish Nikose for over a year and have bought several medications from him other than rapamycin. I have always received my shipments in a timely manner and have no complaints.
I have also bought from other Indian suppliers and have had the same transfer problems.
It is unfortunate but it is not really Jagdish Nikose’s problem.
Remember even with transfer fees you are still getting a bargain compared to buying in the U.S.
Some money transfer companies even canceled my accounts because they thought my transfers to India might be money laundering.
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I don’t mind paying a fee. My bank doesn’t charge one. If he had told me of one on his end, I would have been happy to pay it.
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Again, yes it is a little frustrating at first. Try WISE, if it works for you it will show exactly how much the recipient gets, but again, even with them, you have to watch for hidden fees. I don’t like to use the term “hidden” but sometimes there are fees tacked on to the back end of the transaction depending on the currency used. If WISE allows you to transfer dollars to INR (Indian rupees) then everything should be transparent. It does not matter what vendor you deal with, money transfers can be a problem.
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I haven’t used Wise yet. Once you set it up, and have the bank info of the receiving party - I’m assuming everything is much easier for subsequent transactions - is that correct?
If there are bank fees on the receiving end that you have to cover, that should be stated clearly as part of the invoice or built into the price. I have sent money to Kacchella twice now, no issues with unanticipated claims for fees on the receiving end. Anil just states a total price with shipping included. Done and done.
For those who haven’t tried it yet, I’ve attached some screenshots from the wise.com transfer process.
I was surprised by just how cheap the fees were. Can’t beat free of course, but the convenience factor of not (in my case) having to call Vanguard and interact with a rep was more than worth the wise fee. You get a variety of choices for how source funds.
I was concerned that the resultant conversion to INR on the receiving end would be shorting the received amount, but I included a screenshot from xe.com that shows the wise conversion rate is not skimming much if anything there.
Wise did at one point make me provide ID (passport) and then match photo with a selfie. I might have triggered that by my screwing around, not sure that it is required for all.
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Thanks! I did set up an account at Wise but as you say, can’t beat free. And I had a similar concern about the conversion. One would think, given that Niba uses a very large bank for all transactions, that they would have information about what thw receiving fees are. My bank rep said she had never heard of any receiving fees, and
they do not charge them.
Yes, pretty easy to set up. I use it. Initially, it was great for me, but then it quit allowing me to transfer dollars to INR. So now I have to convert dollars to Euros to deposit into Jagdish Nikose’s account. Why is a mystery to me. Others, seem to still be able to convert dollars to INR. I still use it because of the convenience for me. Remitly and XE both canceled my account when I tried to transfer money to Nikose’s account. Remitly worked great the first time I used them, but the second time caused my account to be canceled with no explanation. Both, Remitly and XE refuse to give an explanation, but they list probable causes, one of which is suspicion of money laundering.
@Nellie_DeBruyn That’s exactly what I did, only to find that HIS bank ate another $30 that MY bank said nothing about. Remember that the Indian banks make their own rules. I followed his instructions, and ended up settling for fewer tabs.
I won’t use wire again.
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That’s beginning to dawn on me as the probable outcome. But it seems a bit scammy. Surely they are aware of the potential bank fee on their end, and could put it on the invoice as a line item, which will allow us to make an educated decision about how to manage it.
The bank, Kotak Mahindra Bank, looks like a small local bank.
I have sent the following message to Mr. Nikose. I will let you know how he responds.
"Dear Mr. Nikose;
How are you? I hope you are doing well.
Have you considered using another bank for your overseas customers?
Many people on a forum I belong to are complaining about charges from your bank when they try to send you money. Remitly and Xe will not transfer funds from my account to your bank. WISE will now not allow me to convert dollars to INR for deposit in your bank. That is why when I order I am sending you EUROs instead of INR.
You are losing business because other members are switching to other suppliers."
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@desertshores - Kotak Mahindra Bank has 71,000 employees. (according to its website) I do very much appreciate your effort!
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Wow, that’s a pretty big bank. Should have done my homework better.
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This is the reply I got from Jagdish Nikose:
He then includes receipts from several other services. (I will include just one example)
Cross-border payment fees are problematic, which is why several cryptocurrencies are trying to solve the problem. Also when he quotes a price that is based on that day’s exchange rates so they might have changed by the time you actually order.
In any case, I have placed many orders with Jagdish Nikose and received them, usually in 2 to 3 weeks with no problems. The only problem I have is with the money transfers which I don’t think are his fault.
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is it customary to bargain with these Indian dealers? I thought I read someone got a better price by saying another proprietor on India mart were giving lower prices. Or are these prices set it stone?
It doesn’t hurt to try bargaining… But also just shop around. They are frequently changing the prices and seeing what the market will bear.
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I should update you that I got an e-mail from Jagdish to say that the package is on the way with a photo and tracking info. No mention of missing fees. So, I don’t know if he “ate it.” or if indeed the bank on their end does not charge a receiving fee.
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He has been a reliable supplier to me. He also is in the middle price-wise. I continue to use him because he is so reliable. He will not ship meds that are illegal to ship according to Indian law. For those items, trazodone for instance, I have to use more sketchy suppliers.
Yes, I do think he ate it and shipped it anyway. I don’t think he lost any money. Experience will make things easier next time.
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Today I received a shipment from Jagdish.
He had a very fast response and was very helpful.
The shipment included Zydus Siromus, 1 mg, which cost $1.34 each.
Shipping to Poland via EMS was $40, and the delivery took 11 days.
I will start taking the medication in a week, and after a month, I will do a blood test to check the concentration of the medication in my blood.
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Rl pharma and niba healthcare both are same company
Jagdish
Watsapp number - +91 7219601928
Gmail- rlhealthcare1928@gmail.com
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