How do you manage/reduce the bank charges on inward transfers? And how do you budget for them?

Question

Mohammed Rafiq Shaikh · Answer

Can You expalin the nature of Inward Transfer.
Many Banks do not charge for Inward Transfer.
You can save the charges by opening account with them

Rashid Waheed · Answer

By keeping sufficient balance in your account

kazy raihan · Answer

opening more current and savings deposit or low cost deposit and increas number of branches for serve customer easily anywhere in country.

Sanoj Mathew · Answer

generally internal tranfers r not charged...still v can slab the charging pattern as per the multiples of100s or1000s

Mohammed Salim Allana · Answer

Inward TT charges varies with different bank and countries (correspondent bank charges). Ask your bank what is the minimum charges of TT for each country. Ask your customer to send the TT for the net amount in local currency and let them bear the TT charges.

Budgeting for such charges depends on the number of TT received in the previous year (map it with your total sales revenue) and make a forecast for the next year.

Aziz ur Rehman ur Rehman · Answer

the inwords transfer carges depends upon how much quntitiy purchased ,

so using economic order quintity formula we determine

1) Nos of optimal orders of entire requirements

2) ordering cost per order

3) carrying or storing cost per unit

hence we can determin the level at which all the above cost minmum

Amjad Maznani · Answer

maintaing sufficient balance in account ,,

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How do you manage/reduce the bank charges on inward transfers? And how do you budget for them?

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