- Easy Savings Account
- NRI Prime Savings Account
- Mariner Account
- Priority Account
- Burgundy Account
- National Pension System (NPS)
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Easiest mode of sending money to India from a local overseas bank in all major currencies.
What is Wire Transfer?
Wire Transfer is also popular as SWIFT Transfer or
Telegraphic Transfer (TT). ‘SWIFT’ is a network that enables financial institutions
worldwide to send and receive information
about financial transactions in a secure, standardized and reliable environment.
Axis Bank has
a vast network of routing / correspondent banks worldwide that ensure seamless connectivity amongst
banks located globally. Use Wire
Transfer to send funds in all major currencies from a local overseas bank to India through its vast
network of correspondent banks worldwide. We support transfers in EURO currency through our network
of partner banks.
List of
correspondent / nostro banks Click
here
Wherever you are in the world, just initiate ‘Wire Transfer’
instructions with your local bank overseas and get the funds credited to any Axis Bank account in
India within 48 hours.
Send Money now
Initiate wire transfer from your
local bank overseas using their online (internet banking) or offline facility mentioning Axis
Bank’s correspondent bank (NOSTRO account) details. Please select currency of remittance from
the
drop down currency list to get the correspondent bank details:
Features &
Benefits:
a. Authenticated cross border money transfer
b. Safe, Secure &
Convenient way for International fund transfer
c. Used globally across banks located
worldwide
d. Competitive Foreign Exchange rates
e. No minimum or maximum limits on fund
transfer
f. Credit to beneficiary account within 48 hours
g. Easy to instruct for creating
FCNR deposits
How to initiate International Fund Transfer in local (foreign)
currency?
Visiting local (overseas) branch
1. Visit your overseas
Bank’s Branch
2. Request for fund transfer
in local (foreign) currency
3. Fill & submit the fund transfer application form there at
local (overseas) bank
Using Internet Banking of Local (Overseas) bank
Local (overseas)
bank should have the facility of International
Fund Transfer through Internet Banking. Client may enquire the same with their overseas local
bank.
1. Fetch the information required for Wire Transfer using ‘Simply-Wire Online
Form’
Click
Here
2. Login to Internet Banking of local (overseas) bank and search for appropriate
option to send International funds transfer in local (foreign) currency.
3. Add recipient
details using the details fetched above
using ‘Simply-Wire Online Form’Click
Here
4. Initiate International fund transfer in local (foreign) currency.
5. Post
successful transfer a transaction initiation / confirmation receipt will be generated.
# do not
opt / select any option to convert funds in INR
#
keep the transaction receipt saved with you for any future references.
Mandatory
information while initiating fund transfer
For hassle-free & timely processing
of transaction, please share the following
information with your local overseas bank:
Information | Description |
---|---|
Correspondent Bank Name / Swift Code / Correspondent bank’s account number | Please refer list of Correspondent Bank for details |
Beneficiary Bank name, Address & Branch SWIFT code | Provide receiving Axis Bank’s branch name. Axis Bank SWIFT code can be mentioned as ‘AXISINBBXXX’ |
Beneficiary name, Account Number and Purpose of remittance | Provide the receiving (beneficiary) account details |
Mention charges as "OUR" | To avoid charges at beneficiary’s end |
You may also use our Simply Wire Online Form
to generate the above information in one-go, which is required to initiate international
fund transfer in local (foreign) currency.
For placing request for FCNR Deposits Mention
beneficiary Customer-Id instead of NRE/NRO
account number for opening a FCNR fixed deposit with Axis Bank. Also, mention ‘FCNR’
under remittance/sender information field to avoid funds getting converted in INR.
Schedule of Charges
a.
Axis Bank does not charge anything from beneficiary other than nominal processing fees for
processing Inward Wire Transfers.
b. Remitting bank / correspondent bank may levy charges for
the wire transfer.
c. Foreign Currency
Conversion Tax is applicable in accordance to GST Bill 2017 passed by the Government of India.
Click
here for Schedule of Charges
Foreign Exchange Rates
The Card
Rate prevailing on the date of credit to beneficiary’s account would be the applicable
exchange rate.
Click here
for Foreign Exchange Rates
Wire transfer is an offline mode of cross border transfer from your local bank overseas to your Axis Bank account in India. We support transfers in GBP currency through our network of partner banks across the world.
List of our partner bank accounts click here For'List of our partner bank accounts ' .
Why to choose bank branch transfer to send money from UK to India?
TRANSACTION AMOUNT | VALUE OF SERVICE ON WHICH GST TO BE PAID |
---|---|
Less than or equal to INR 1,00,000 | 1% of the transaction amount, subject to minimum of INR 250/- i.e. minimum GST payable is Rs. 45. |
Greater than INR 1,00,000 and less than or equal to INR 10,00,000 | INR 1000 for exchange amount of INR 1,00,000, plus 0.5% on the remaining transaction amount. |
Greater than 10,00,000 | INR 5,500 for exchange amount of INR 10,00,000, plus 0.1% on the remaining transaction amount over and above 10,00,000 subject to maximum of INR 60,000/-, which is capped to GST payable at INR 10,800/-. |
Mahesh is a Non Resident Indian (NRI) living in the UK. He is doing well in the business that he set up there....