I’ll be moving to India for (at least) one year in July and I was wondering the best way of managing money since I will be paid in INR. The idea is two find the cheapest way possible to the transfer the INR balance into GBP/EUR.
I see two solutions:
Open a bank account in India and then transfer the money on Revolut, exchanging it either in GBP or EUR: this should cost me 2% commission plus the spread.
Use the Revolute bank account in INR and get paid straight away there, but I guess commissions will be higher since it seems a normal international bank account (by Lloyd’s).
Sounds to me the first option requires a little bit of effort, but is cheaper. Am I correct?