SBI Express

Transfer money through any of our associated Exchange Houses or Banks in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE to beneficiary's account in SBI in India. You may choose any of the following service to send funds.

Countries and Exchange Houses or Banks offering these services are mentioned as under. Kindly note that all the above products are not being offered from all the exchange companies listed below. Please check up with the respective exchange house in this regard

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:
  • Mention correct SWIFT code as per following -
    • For remittances up to USD 10,000 or equivalent: SBININBBFXD
    • 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.
  • 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.
  • Full name and complete address of beneficiary
  • SBI Branch Code / IFSC Code
  • For other banks beneficiary existing CBS account number, bank and branch name, IFSC Code
  • Full name, address and account number of the remitter
  • Purpose of remittance
  • 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 applicable from time to time.
• 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:

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

Draft

If a remittance is sent as a Demand Draft, the beneficiary can deposit it at the branch in India where 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.