Q. Who can send remittances?
A.
All residents on production of HKID card and others on production of passport can send
remittances. Applicants are required to
provide acceptable proof of identity and current residence. They are also
required to disclose the source of funds being remitted as well as Beneficiary's name,
bank account number, bank branch and bank name.
Q. Can I send money to India?
A.
Yes, you can, whatever be the amount to any part of India. As remitter of the
funds you are required to produce your Hong Kong ID card. You should also invariably
give the name of the beneficiary, his/her account number, the name of the Bank
and the Branch. Requests for issue of drafts or remittances to beneficiary only
with out the account details will not be entertained. You will also be required
to declare to the Bank the source of funds being remitted by you.
Q. What are different methods of sending money to India?
A.
You can send money to India by Drafts, SWIFT transfers and Electronic transfers.
Q. Can I send money to any bank or should it be to State Bank of India only?
A. You may send money to any one with account with any bank in India. We would be issuing a draft or a telegraphic transfer on SBI branch nearest to the beneficiary's bank who can collect funds from SBI branch.
Q. Can I send money by SWIFT transfer to any part of India?
A.
Yes , but there are certain constraints. The beneficiary should have an account
with one of the Banks/with SBI branch where there is a SWIFT facility.
You can enquire about the availability of SWIFT at the centre of your interest,
at the time of remittance.
Q. How many days would it take to transfer money to India?
A. One/two days in case of SWIFT.
Q. How fast is remittance of funds by Drafts?
A. Depends on how you are sending the drafts to the beneficiary viz:
by hand through some one going to India / through regd mail /through ordinary mail/through courier.
Q. How can I make payment for the draft or SWIFT Transfer?
A. By certified cheque, bank draft, money order drawn in the name of
State Bank of India, Hong Kong or Cash. For quicker transactions we would
encourage you to bring cheques and not cash. If you are bringing in cash and
if you are a non customer of the Bank we accept cash only up to HK$ 20,000.
If you are a customer of the Bank maintaining account with us cash will be
accepted beyond HK$ 20,000 or equivalent subject to your giving a declaration
as to the source of funds. Also if you are paying us by way of a draft or
Cashier's Cheque or Money Order these payments should be made in the the name of
State Bank of India, Hong Kong and name of the purchaser of the draft should be
available on the face of the instrument. Requests for remittance will be entertained
only from the purchaser of the payment instrument as available on the face of the instrument.
Q. Does the Bank accept personal cheques?
A. Yes we accept. However the draft which is prepared on receipt of
your cheque will be delivered to you only after your cheque proceeds are cleared .
This may take two days time.
Q. What are charges for buying the draft?
A. Click here for Charges.
Q. Is it necessary to come to the Bank for sending a remittance?
A. No. it is not necessary. You may mail us your cheque together with service charges along with your instructions.
Q. Do I need to have an account for sending drafts or SWIFT Transfers?
A. It is preferable to have an account with us.
However, having an account does not provide for any reduction in service charges.
For further INFORMATION/CLARIFICATIONS please contact
AVP (Remittance)
Phone No : 2523 0022
email : remittance@sbihongkong.com
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