Topic: SBI international fund transfer - page 2. (Read 15521 times)
This may solve a problem of getting money to Japan.
Good service but SBI sucks and
Only individual "Per" Segment customers registered in Internet Banking of our Bank and maintaining account with any of our Metro / Urban Branch for minimum period of one year prior to the remittance would be eligible for availing the facility.
Only individual "Per" Segment customers registered in Internet Banking of our Bank and maintaining account with any of our Metro / Urban Branch for minimum period of one year prior to the remittance would be eligible for availing the facility.
https://www.onlinesbi.com/personal/international_fund_transfer.html
Does this solve the exchange a/c funding problem from an INR bank a/c.
Quote
International Funds Transfer
Scheme Objective & Purpose:
To introduce a product offering to our customers in India with the convenience of remitting funds abroad for gift-designed / sundry remittances' without visiting any of our branches, at competitive cost, within the RBI guidelines.
Customized Internet-banking user-based outward remittance functionality.
International Funds Transfer up-to a value equiv. of USD 2,000 per transaction, Maximum 4 transactions permitted per month i.e. maximum USD 96,000 per calendar year, designated as education, medical treatment abroad and maintenance of close relatives are offered to our retail customers. The scheme envisaged is within the scope of RBI Master Circular No. 01/2012-13/6 - dtd. 02-07-2012) on Misc. Remittances from India-Facilities for Residents
Compliance Requirements:
Remitter / Applicant’s registration of PAN no. in CBS with the Home Branch is mandatory.
Remitter / Applicant has maintained the bank account for a minimum period of One year prior to the remittance. Not available with the new customer for less than One year.
Restriction on initial remittance to overseas beneficiary within 5 days of new Beneficiary activation is equivalent in INR 50,000/
User-ID and Password security is exclusively to the responsibility of the remitter / applicant (INB user) and no claim subsequent to remittance application received shall be accepted by the Bank.
Total amount of foreign exchange purchased / remitted through all sources, in India during this financial year shall not exceed the annual prescribed limit of Reserve Bank of India under Liberalised Remittance Facility for resident individuals, for the said purpose, as prescribed from time to time.
Pricing:
Our charges upto the beneficiary Bank of the customer is USD 10 equiv Fixed (@ TT Selling Card Rate for the day) to be recovered up-front alongwith the application for effecting the remittance.
Platform: - "Online SBI" i.e "www.onlinesbi.com"
This product is delivered through the "Online SBI" platform, through technology interface. Only individual "Per" Segment customers registered in Internet Banking of our Bank and maintaining account with any of our Metro / Urban Branch for minimum period of one year prior to the remittance would be eligible for availing the facility.
Available Currencies for ordering remittances:
In three currencies viz. USD, Euro and GBP.
Available at Geographical locations:
United States of America (USA)
United Kingdom (UK)
Australia
New Zeland
France
Germany
Japan
Canada
Singapore
Hongkong
South Africa
The benefit of the proposed scheme can be summarized as:
Advantage for Customers:
hassle-free forex funds remittance option from within the comfort of their home / office
e-mail confirmation to Applicant conveying remittance transaction details
system-driven funds delivery within reasonable time (next working day) at minimum cost
Simplified RBI/ FEMA, etc. regulatory compliance requirement.
Scheme Objective & Purpose:
To introduce a product offering to our customers in India with the convenience of remitting funds abroad for gift-designed / sundry remittances' without visiting any of our branches, at competitive cost, within the RBI guidelines.
Customized Internet-banking user-based outward remittance functionality.
International Funds Transfer up-to a value equiv. of USD 2,000 per transaction, Maximum 4 transactions permitted per month i.e. maximum USD 96,000 per calendar year, designated as education, medical treatment abroad and maintenance of close relatives are offered to our retail customers. The scheme envisaged is within the scope of RBI Master Circular No. 01/2012-13/6 - dtd. 02-07-2012) on Misc. Remittances from India-Facilities for Residents
Compliance Requirements:
Remitter / Applicant’s registration of PAN no. in CBS with the Home Branch is mandatory.
Remitter / Applicant has maintained the bank account for a minimum period of One year prior to the remittance. Not available with the new customer for less than One year.
Restriction on initial remittance to overseas beneficiary within 5 days of new Beneficiary activation is equivalent in INR 50,000/
User-ID and Password security is exclusively to the responsibility of the remitter / applicant (INB user) and no claim subsequent to remittance application received shall be accepted by the Bank.
Total amount of foreign exchange purchased / remitted through all sources, in India during this financial year shall not exceed the annual prescribed limit of Reserve Bank of India under Liberalised Remittance Facility for resident individuals, for the said purpose, as prescribed from time to time.
Pricing:
Our charges upto the beneficiary Bank of the customer is USD 10 equiv Fixed (@ TT Selling Card Rate for the day) to be recovered up-front alongwith the application for effecting the remittance.
Platform: - "Online SBI" i.e "www.onlinesbi.com"
This product is delivered through the "Online SBI" platform, through technology interface. Only individual "Per" Segment customers registered in Internet Banking of our Bank and maintaining account with any of our Metro / Urban Branch for minimum period of one year prior to the remittance would be eligible for availing the facility.
Available Currencies for ordering remittances:
In three currencies viz. USD, Euro and GBP.
Available at Geographical locations:
United States of America (USA)
United Kingdom (UK)
Australia
New Zeland
France
Germany
Japan
Canada
Singapore
Hongkong
South Africa
The benefit of the proposed scheme can be summarized as:
Advantage for Customers:
hassle-free forex funds remittance option from within the comfort of their home / office
e-mail confirmation to Applicant conveying remittance transaction details
system-driven funds delivery within reasonable time (next working day) at minimum cost
Simplified RBI/ FEMA, etc. regulatory compliance requirement.
Does this solve the exchange a/c funding problem from an INR bank a/c.
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