SBI, State Bank of India offers online forex outward remittance scheme. It is a new facility launched sinxe 2014.
Do I need a seperate account for this?
If you have www.onlinesbi.com user account this facility can be availed using same account. All that is needed is you need to be registered as a retail internet banking facility user at MEtro/urban branches
Resident individuals can avail this scheme. PAN number with home branch of customer is mandate to start using this
How does this process work?
Log into www.onlinesbi.com
Navigate to, Payments & Transfer menu the Fund Transfer Section
Go to International Beneficiary link to initiate on-line foreign outward remittance request
As per RBI norms, Retail Forex outward remittance,up-to a value equiv. of USD 2,000/- per transaction, max 3 transactions per month, i.e. USD 72,000/- per calendar year, offered to our retail customers. No minimum amount of remittance is stipulated
Do I need a seperate account for this?
If you have www.onlinesbi.com user account this facility can be availed using same account. All that is needed is you need to be registered as a retail internet banking facility user at MEtro/urban branches
Resident individuals can avail this scheme. PAN number with home branch of customer is mandate to start using this
How does this process work?
Log into www.onlinesbi.com
Navigate to, Payments & Transfer menu the Fund Transfer Section
Go to International Beneficiary link to initiate on-line foreign outward remittance request
As per RBI norms, Retail Forex outward remittance,up-to a value equiv. of USD 2,000/- per transaction, max 3 transactions per month, i.e. USD 72,000/- per calendar year, offered to our retail customers. No minimum amount of remittance is stipulated
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