![]() We may refuse to process any request for a foreign exchange transaction. Wells Fargo is your arms-length counterparty on foreign exchange transactions. Foreign exchange markets are dynamic and rates fluctuate over time based on market conditions, liquidity, and risks. Different customers may receive different rates for transactions that are the same or similar, and the applicable exchange rate may be different for foreign currency cash, drafts, checks, or wire transfers. The exchange rate Wells Fargo provides to you may be different from exchange rates you see elsewhere. The applicable exchange rate does not include, and is separate from, any applicable fees. The markup is designed to compensate us for several considerations including, without limitation, costs incurred, market risks, and our desired return. The exchange rate used when Wells Fargo converts one currency to another is set at our sole discretion, and it includes a markup. In addition to any applicable fees, Wells Fargo makes money when we convert one currency to another currency for you. Some countries also require you to provide a purpose of payment.New Zealand, Cook Islands, Niue, Pitcairn and Tokelau: New Zealand Clearing Code.Canada: Canadian Payment Routing Number.Australia: Australian Branch Code (BSB).Depending on the country, we may ask you to provide an IBAN when you send an international wire transfer.Ĭertain countries require additional codes as follows: An IBAN identifies specific bank accounts at international banks. ![]() Your recipient’s International Bank Account Number (IBAN).If you don’t know this, contact your recipient’s bank. A SWIFT code or Bank Identification Code (BIC) identifies the bank that will receive your wire transfer. The SWIFT/BIC for your recipient’s bank.To send an international wire, you will also need: If you don’t know your routing number, we can look it up for you on the Add Recipient screen. The routing (ABA/RTN) number for your recipient’s bank.To send a domestic wire, you will also need: Any requests received after cutoff time will normally be processed the next working day. Please visit your nearest branch for cut-off time.Ģ. The Cut-off Times for State Bank of India differs. Outgoing Wire Transfer Cutoff Time for State Bank of Indiaġ. We recommend using services like TransferWise for getting best conversion rates with lower wire transfer fees. International Outgoing Wire Transfer Fees for State Bank of India is as follows: Payment typeĪpart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. Outgoing Wire Transfer Fees for State Bank of India (India) International Incoming Wire Transfer Fees for State Bank of India is as follows: Payment type Incoming Wire Transfer Fees for State Bank of India (India) The name and address of recipient’s bank – including the BIC (Business Identifier Code) / SWIFT code / clearing code. The recipient’s IBAN or account number.ģ. The recipient’s account name and address.Ģ. To send international wire transfer from your State Bank of India account, You need to know the following information about the person or company receiving the money:ġ. Outgoing International Wire Transfer Instructions We recommend services like TransferWise for getting best conversion rates and lower wire transfer fees. Note of Caution on Fees: If your money transfer involves currency conversion, there is a high chance you will get a poor exchange rate from the banks and as a result pay high hidden fees. The full name of your account as it appears on your statement Your complete State Bank of India account number State Bank of India’s Nostro Account Numbers The Correspondent Bank Accounts for Remittance: To receive international wire transfer in your State Bank of India account, please provide the following wire instructions to the sending financial institution: Bank Name:įor State Bank of India, this code is SBININBB Incoming International Wire Transfer Instructions Usually, the receiving bank (in India) and the sending bank (in other country) need to have a direct arrangement in place to start the swift transfer – this is sometimes referred to as correspondent banking. Banks use SWIFT network for exchanging messages required for performing international wire transfer. International wire transfer is one of the fastest way to receive money from foreign countries. International Wire Transfer to State Bank of India
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