USD-INR Remittance Facility Through Internet Banking

Transcription

1 USD-INR Remittance Facility Through Internet Banking Remittance to India (in Indian Rupees) from US Dollar accounts through Retail Internet Banking (RINB) Portal for Retail (Individual) Customers A new facility has been added on SBI Maldives INB portal ( through which retail customers maintaining USD account in any of our three branches viz. Male, Sheenu Hithadhoo & Maamigili and having RINB(with transaction rights) facility can transfer funds online to any account(in INR currency) maintained with Banks in India. Continue

2 Guidance Document for Customers for using USD-INR Remittance Facility (Note: The captioned facility is available to our USD Account holders having Internet Banking with transaction rights facility only. To register for Transaction Rights facility, please visit Internet Banking section under Services tab on the homepage of our website and arrange accordingly. For more details, please call on ) 1. Enter into your Internet Banking(INB) services using User ID and Sign on password. 2. Next screen will appear as under:

3 3. Two tabs viz. Beneficiary and Remittances have been made available. 4. User has to maintain Beneficiary for a particular receiver of the fund as a onetime exercise. Undernoted screen will appear on selection of Beneficiary tab. (Note: If the customer wants to send money to the same person with same account details as already maintained as a Beneficiary in past, there is no requirement to again create a new Beneficiary for the same receiver. In such case, customer has to skip Beneficiary tab and directly visit Remittance tab.)

4 5. Please select Add Beneficiary to input data(indian account details) relating to receiver of the fund in India. Please fill the information carefully. 6. Please read carefully Most Important Information for Customers It will be the responsibility of the customers to enter correct account number while maintaining beneficiary as funds will be transferred solely on the basis of account number. Therefore, customers must ensure to enter correct account number of the beneficiary. Bank will not accept the responsibility for funds transferred to a wrong account number if inadvertently input by the customers.

5 7. Please complete the Data input. Beneficiary Bank Name and Branch can be searched on the basis of Beneficiary City also. 8. Once the data is filled correctly, please revisit each field particularly account number and then confirm. On confirmation, following screen will appear.

6 9. Please input Transaction Password and select insert. Following screen having message Record Inserted Successfully should appear. It is highly recommended to check the Beneficiary Details again. If the particulars are correct, please proceed for remittance. On successful maintenance of Beneficiary please select Remittances tab. 1. Following screen will appear.

7 2. The maximum daily limit for remittance using this facility is USD *(Equivalent to MVR ) without any restriction in number of transactions per day. Customer s USD account will appear as Debit Account. Appropriately enter the Debit Transaction Remarks. (*Though overall daily limit has been fixed as $ , customers can change daily limit to any amount upto $ per day.) Select the Beneficiary from drop down to which you wish to transfer money. All beneficiaries maintained for remittance purpose till date will be available under the drop down. After selection of beneficiary, you can again check the particulars of the said beneficiary by visiting Beneficiary Details. Transaction amount is available in two currencies viz. USD and INR. You can select as per your choice. The conversion rate can be checked through Check Counter Rate. Please select the proper Purpose of Remittance through drop down menu. If the data input is correct, please submit.

8 3. Undernoted screen will appear. Please revisit the payment details before entering your transaction password. If particulars are correct, enter transaction password and insert. Note: The charges applicable here are the normal remittance charges which are already being charged from customers while sending remittance to India through our branches in Maldives. 4. Undernoted screen will appear.

9 5. You can check status of remittance through Remittance Status.

10 6. The status will be updated as under: Pending > Submitted>Success Note: If the transaction is rejected by beneficiary s bank for any reason, the status will be changed to Failed. In such case, customers are requested to contact Remittance Section at the Branch on e mail [email protected] or call on / / Important Information For Customers - Please read carefully. 1. In line with the Reserve Bank of India(RBI) guidelines, it will be the responsibility of the customers to enter correct account number and IFSC code while maintaining beneficiary. However, IFSC code will be used to identify beneficiary s Bank and will not validate the IFSC code with the account number. 2. Therefore, customers must ensure to enter correct account number of the beneficiary. Bank will not accept the responsibility for funds transferred to a wrong account number if inadvertently input by the customers. 3. Though Remittance request can be created on INB portal 24x7, final processing of transactions in India will depend upon availability of various channels/applications involved in the process and/or RBI guidelines. 4. For beneficiary accounts maintained in other Indian Banks including SBI associate Banks (SBG- State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State bank of Patiala and State Bank of Travancore), the SBG/RTGS/NEFT transaction timings as stipulated by RBI will be applicable. 5. SBG/RTGS/NEFT transactions will not be processed on Sundays or public holidays in India.

11 6. In view of the above, final credit into the beneficiary account may not be immediate particularly on holidays in Maldives/ India. State Bank of India, Republic of Maldives.