Remittances Other than Middle East - NRI

SWIFT / Wire Transfer

You can send remittance to your beneficiary’s account in India from your overseas bank through SWIFT (MT 103). Salient features of this facility are as under:

• Facilitates remittances from anywhere in the world to any part in India
• Beneficiary's account, if maintained with us, is credited through Core Banking within 1 business day of receipt of message
• Accounts of beneficiaries in other Banks will be credited through NEFT / RTGS within 2 business days
• Remitters to provide the following information to their Bankers while sending remittance, for incorporating in the SWIFT messages:
  1. Mention correct SWIFT code as per following -
     1. For remittances up to USD 10,000 or equivalent: SBININBBFXD
     1. For remittances more than USD 10,000 or equivalent: SWIFT code of home branch of the beneficiary. If home branch of beneficiary does not have SWIFT code, then please mention SWIFT code of a link branch or any nearby SBI branch of that city / state. Please click here to view the SWIFT codes of all SWIFT enabled SBI branches.
  2. 11 digits account number of the beneficiary (with initial digit as non-zero). If International Bank Account Number (IBAN) needs to be mentioned then, please mention beneficiary’s 11 digits account number only in IBAN field. Please do not prefix or suffix SWIFT / IFSC Code etc.
  3. Full name and complete address of beneficiary
  4. SBI Branch Code / IFSC Code
  5. For other banks beneficiary existing CBS account number, bank and branch name, IFSC Code
  6. Full name, address and account number of the remitter
  7. Purpose of remittance
  8. Details of correspondent / intermediary Bank, in case if remitting bank is not direct correspondent of State Bank of India. Please click here to view all correspondent bank accounts.
• Rs. 25/- is levied by SBI in India for conversion of foreign currency into Indian Rupees.
• Service tax for conversion of Foreign Currency to Indian Currency will be levied as per following:

Sample SWIFT transfer instruction form, which remitter can submit at his / her remitting bank:

• Field 56 (Correspondent Bank / Intermediary Institution details)

  • SBI's Correspondent Bank Name:
  • SWIFT Code:
  • SBI's Nostro Account No:
  • Additional Details (if any):
  • Please click here to view all correspondent bank accounts and corresponding details.

• Field 57 (Beneficiary Bank details)

  • Bank Name: State Bank of India
  • SBI Branch Name:
  • SWIFT Code of SBI Branch:
  • Please click here to view the SWIFT codes of all SWIFT enabled SBI branches

• Field 59 (Beneficiary details)

  • Beneficiary Name:
  • Beneficiary's Account No:
  • Beneficiary's Address:

• Field 70/72 (Remittance information / purpose of remittance)

  • Please mention the desired disposal of remittance amount, such as
  • Convert to Indian Rupees and credit the beneficiary account
  • Issue NRE / NRO / FCNR (B) deposit for <please mention the duration> years in <please mention the currency if FCNR (B) has to be created > currency
  • Get instructions from beneficiary

In case of any issues about this product, please contact our International Remittance Centre (IRC) helpline from 10:00 to 17:00 hours (IST) at:

Charges for ‘Instant Transfer’ vary at different branches. Branches in some countries may offer the facility at concessional rates to their account holders. Please contact our branch in your Country to know the schedule of charges of ‘Instant Transfer’ for you.

• Email: ircresponse.fd@sbi.co.in or irc.fd@sbi.co.in
• Tel: +91-33-2288 2363 or +91-33-2288 3778

Draft / Cashier's Cheques

Cashier's Cheque / International Money Order:

Remittance by cashier's cheque or International money order, works on the same principles as a cheque drawn on a foreign bank. Please click here to know more about foreign currency cheques and other instruments collection policy.

Draft:

If a remittance is sent as a Demand Draft, the beneficiary can deposit it at the branch in India where either you or your beneficiary hold an account. The draft will be sent to the branch where it is payable. After collection, the proceeds will be deposited in the account. If there is a need for currency conversion, the currency conversion rate prevailing on the date of conversion is applied. Collection charges will be as applicable from time to time. Please click here to know more about foreign currency cheques and other instruments collection policy.

Foreign Currency Cheques

You can deposit personal cheques drawn on a bank abroad in foreign currency and credit the same to your account with a branch in India. The cheques are sent to the respective countries for payment and on collection of funds, the amount is deposited in your account. Collection period varies depending on the country, local clearing regulations and location of the bank on which the cheque is drawn. Collection charges are recovered as applicable from time to time. Cheques can be deposited at the branch through messenger or sent to the branch by post / courier. If the cheque amount is in foreign currency and the credit has to be offered in India rupees, the currency conversion rate prevailing on the date of conversion will be applicable. Please click here to know more about foreign currency cheques and other instruments collection policy.