SBI offers specifically designed remittance services to the NRIs, PIOs and Foreign nationals settled in various parts of the world. These remittance services are provided under the brand umbrella of “SBI Express”.

Regions for SBI Express in World:

USA

UK

Middle East Countries

Common features of these offerings are:

-Most competitive exchange rates with no remittance charges

-Most secure way of sending remittances to India

-Direct credit to accounts in all State Bank branches

-Credit through NEFT to accounts in about 60,000 NEFT enabled branches of other banks

-Online Transaction tracking facility 24X7

-SMS advice to beneficiaries

Offerings for US Customers:

SBI Express Remit – US

-Remittances from USA to India happen through the Automated Clearing House (ACH) mechanism for the SBI Express Remit – US offering.

-All it requires is one-time online registration on our remittance portal with your bank account details and money can be transferred to beneficiary accounts in India from the comfort of your home using Internet.

SBI Rapid Remittance

-Very easy web assistance is provided for error free wire transfers, thus minimizing the hassles, difficulties and occasional delays faced in a wire transfer.

-Send up to a minimum of USD 50 and a maximum of USD 100,000 per year.

SBI FCNR (B)

-Foreign Currency Non-Resident (FCNR) deposit is completely online service.The money transfer service for NRI individuals is done by sending money directly from their US Bank account to their existing NRE or FCNR account in US Dollars with designated SBI branches in India.

Offerings for UK Customers:

-Customer Initiated Payments (C.I.P.) is a web based, convenient, speedy and cost-effective offering to send remittances from UK to India by Non-resident Indians.

-This facility employs a fully electronic process from the initiation of your transaction to the credit to beneficiary account provided the remittance is funded by you either through instruction to your Bank in UK through Internet/Phone banking or as a Wire Transfer.