Customers of State Bank of India Australia can use e-Remit an online facility to send cross border payments in AUD and 6 major currencies of INR, USD, EUR, GBP, NZD and CAD by which Registered Customers (Customers who have completed their Identity Verification Procedure) can submit their International Money Transfer Requests online. The State Bank of India e-Remit facility is a convenient, secure and efficient way for Registered Customers to send payments to major destinations like India, USA, UK, Europe, NZ, Canada^. State Bank of India Australia's e-Remit online facility operates 24 hours a day, 7 days a week offering you the freedom to do online transactions at a time of your own choosing, and lock-in the exchange rate given to you at the time of transaction. As the Australian Branch of State Bank of India - the largest commercial bank in India - we can offer competitive quotes for major currencies of INR, AUD, USD, EUR, GBP, CAD, and NZD.
The main advantages of using e-Remit are :
- Cost Saving of up to 80% with Competition.
- Competitive and Variable Exchange Rates.
- BPAY®^ and POLi®* enabled transfer Acceptance.
- Choose to receive SMS alerts to your Australian mobile.
The online portal offers two options to transfer the funds to us - BPAY®^ and POLi®*.
- We offer either BPAY(R) or POLi to transfer funds via e-Remit to us.
- We do not accept payment by cash
Charges for REMITTANCE and INDIA SERVICES
Current remittance charges (subject to change from time to time based on bank’s directives) :
|SL NO||Particulars||Charges (in AU$)|
|INR Remittance||Applications through E remit||Paper based Remittance application|
|Amount in AU($)||Bpay Option AU$||Poli Option AU$||Amount in AU$||Charges|
|$1 - $1000.99||$ 2||$2||Upto AU $25000.00||AU$ 10.00|
|$1001.00 - $10,000.99||$ 4||$4||Above AU$ 25000.00||NIL|
|$10,001.00 - $24,000.99||$ 8||$8|
|More than $25,000||NIL||NIL|
|Remittance in Other Currencies1(US$; GBP;EUR;CAD;NZD;SGD)||AU$10|
|Remittances AUD to AUD||$ 30.00|
|Reprocessing of Error (in Each Instance)||$ 10.00||$ 10.00|
|Dis-Honour of Direct Debit||$ 15.00||$ 15.00|
|Request for Return of Fund AUD-INR (if transaction is already processed by us)||AU$ 15.00 + Conversion @ TT Buying rate of request date||AU$ 15.00 + Conversion @ TT Buying rate of request date|
|Request for Return of Fund - Multi currency(if transaction is already processed by us)||AU$ 15.00 + Conversion @ TT Buying rate of request date||AU$ 15.00 + Conversion @ TT Buying rate of request date|
|Request for old record(more than 3 months)||
Records available in e-remit and required on SBI letterhead Active customers - NIL
Inactive customers - AU$ 15.00
|AU$ 15.00 each transaction|
|Verification of Loan Documents||AU$ 25 per set|
|Life Certificate of SBI Pensioner||NIL|
|a. Account opening Documents for SBI Branches||a. $25.00 per application|
|b. Any other additional document||b. $ 10.00 per page|
|c. Life Certificates||c. NIL|
1Correspondent Bank charges may be applicable
*** Charges can be paid separately or can be adjusted in remittance amount as per instruction of the customer
^BPAY® is a trademark registered to BPAY® Pty Ltd in Australia.
*POLi® is a trademark registered by POLi® Payments Pty Ltd registered in Australia.
This information does not consider your objectives, financial situation or needs, and you should consider its appropriateness to your circumstances before acting on information. Where appropriate, you should discuss the tax implications with your independent professional tax adviser.
Product Issuer is State Bank of India Australia ABN 95 082 610 008 AFSL 238340.