How to send money abroad from SBI to a foreign bank account online?

How to add an international beneficiary to send money abroad?

First of all, if you want to use the net banking function to send money internationally, you must first add and authorize your beneficiary.

Step 1: Visit the SBI website and login using your credentials

2nd step: Click on ‘Payments / Transfers’

Step 3: Or click on My accounts and profile

Step 4: Click on Add and manage a beneficiary

Step 5: Enter your SBI profile password and press Submit

Step 6: Select “Foreign money transfer beneficiary” or, in the case of NRE, select “Outgoing money transfer beneficiary for NRE / FCNR (B) account”.

Step 7: Enter the details of the international beneficiary – The beneficiary’s bank account including the SWIFT bank transfer code.

Step 8: Click on Register.

To validate your beneficiary order, you will need to enter a high security password. OTP will be sent to your registered cell phone number.

You will see a successful submission message after entering the OTP, as well as an “Approve Now” login under the message on the same page.

How to approve an international beneficiary for a transfer from SBI to a foreign account?

How to approve an international beneficiary for a transfer from SBI to a foreign account?

A high security password will be sent to your registered mobile number after selecting the OTP option. Simply enter it and click the “Approve” button once you have received it. Approval of an OTP can take anywhere from 4 hours to a day. If you choose this option, an OTP will be sent to the mobile number associated with your SBI account. The beneficiary will be accepted after entering the OTP.

Step 1: Visit the SBI net banking login page

2nd step: Tap “Payments / Transfers”.

Step 3: Click on “Transfer of funds abroad”

Step 4: Select on the “Indian Resident” link.

Step 5: Check the box and click “Continue”

Step 6: Click on “Approve”.

Step 7: Enter your profile password and click “Submit”.

How to send money from SBI to a foreign bank account online?

How to send money from SBI to a foreign bank account online?

Step 1: Visit the SBI website and login using your credentials

2nd step: Click on ‘Payments / Transfers’

Step 3: Select the ‘International funds transfer’ option and click on it

Step 4: Choose ‘Foreign Currency Transfer / Remittance New’ to start the process.

Step 5: Accept the terms and conditions and click on the continue button

Step 6: Select the beneficiary

Step 7: Enter the amount

Note: You must enter the amount, pot number, payout intent and source of funds. When you have finished reading, press the button that says “I agree”.

Step 8: Click Continue

Step 9: Authorize the OTP received on your mobile

Bank transfer normally takes 2-7 business days to enter the intended recipient’s bank account.

SBI international transfer fees

SBI international transfer fees

  • A foreign currency conversion fee of Rs 250 will be levied.
  • Up to Rs.1 Lakh: 1% of the total amount of currency exchanged for Rs.1 lakh, subject to a minimum of Rs. 250 / –
  • Between Rs. 1 lakh and Rs. 10 lakh: Rs. 1000 plus 0.5 percent of the total amount of currency exchanged for a certain number of rupees.
  • Above Rs. 10 lakhs: Rs 5,000 for amounts greater than ten lakhs rupees Plus 0.10% of the gross sum of currencies exchanged for a number of rupees greater than ten lakhs, within the limit of Rs. 60,000 / -.

For security reasons, users are not allowed to submit more than 50,000 (Indian Rupees) within the first five days of recipient approval. After that, you can send up to $ 2000 per transaction and $ 8,000 per month. The SWIFT or Bank Identification Code (BIC) of the beneficiary will also be required.

The United States of America (United States), Australia, New Zealand, United Kingdom (United Kingdom), Canada, Singapore, France, Germany, Japan, Hong Kong and South Africa are currently eligible for Forex Outward Remittance.


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