Money Transfer Schemes of SBI

SBI offers remittances to India through multiple channels. You can select the mode of remittance based on the time within which you need to remit to India.

Instant Transfer:

Instant Transfer is a real time rupee transfer facility to your / beneficiary's account maintained with SBI in India. The account may be held in any one of the 4500 Core Banking Branches. All branches in Kerala eligible.  Available at SBI foreign branch offices only. Amount in converted into Rupees and account is credited within 3 to 10 minutes.

SBI Express Remit:

You need not go to your bank or deliver cheques. You can transfer money from your account with any bank in US or UK to account in India thru Internet sitting at home. Register for this facility at www.onlinesbi.com/gls. After registration, simply log into the same website and transfer money. The scheme offers - Best exchange rates, Direct credit to over 4500 SBI branches in India including all branches in Kerala, Nil Charges*, Facility of credit to accounts held in other banks in India also.

SBI Express:

SBI Express enables NRIs to send rupee remittances from a host of countries. The beneficiary in India can receive the remittance to account held in any Kerala branch within 24 hours OR if is not having account with us, Draft will be sent to the bank. It is available at all major Exchange Companies in Gulf except KSA and selected foreign branches. You have to visit them and instruct them to do the transfer.

SWIFT / Wire Transfer/TT:

NRIs can send remittances to India using SBI's foreign branches or a vast network of 600 correspondent banks across the globe. The remittance can be sent to the beneficiary's branch directly. If SWIFT code is not available for your branch, you can select a SWIFT code of any SBI branch in Kerala (eg – Swift code of SBI OB Kochi Branch SBININBB128), which will handle the SWIFT transaction and transfer the funds to your beneficiary's account.

Draft / Cashier's Cheques / Foreign Currency Cheques:

If a remittance is sent as a demand draft/cheque, the beneficiary can deposit it at his SBI branch. The draft/cheque will be sent collection. After collection, the proceeds will be deposited in the account. DDs issued by Exchange companies in Gulf are immediately credited. Also Currency notes and Travelers cheques accepted. Drafts in foreign currency/ Rupee can also be sent to SBI Branch by post for credit of fixed deposit account or SB a/c in Rupees.

List of Exchange Companies in Gulf with Phone Numbers:

UAE - Emirates India International Exchange +971-4-22332258, UAE Exchange +971-26105616, Thomas Cook Al Rostamani Exchange +971-42141447, KUWAIT – Kuwait India International Exchange +965-2422678, 2453398, 2456082, QATAR - Trust Exchange +974-4352055/56 , 4352057, OMAN - Mustafa Sultan Exchange +968-24707025, KSA - AL RAJHI EXCHANGE +966(2)6700260 +966(2)6716419, BAHRAIN - Bahrain India International Exchange  +973 17210330/17210440

 

Visit www.onlinesbi.com/nri and www.sbi.co.in for more details