How much does SBI charge for inteional wire transfer?

SBI

international money transfer charges

facilitate through various services, including the SWIFT system. These transfers enable customers to send and receive money globally. However, SBI charges certain fees for international wire transfers, which can vary based on several factors like your destination country or total money which you want to transfer.

What are International Wire Transfer Charges SBI?

For sending money abroad, SBI typically charges a fee based on the transfer amount. The fees may vary depending on the currency, and whether the transfer is done online through SBI's internet banking platform or at a branch.

• As of recent guidelines, the charges for online international wire transfers can start from Rs 25. It can go up to 3% of the total amount transferred, depending on the amount being transferred and the currency used. For larger amounts, the charges may be on a percentage basis.

• In addition to the basic transfer charges, applicable Goods and Services Tax (GST) is levied on the service charges. This tax can be around 18% of the fees charged.

• For transaction value between Rs 10 lakhs to 1 cr, it is Rs 1000 and 0.5% of gross amount.

• For transactions below Rs 10 lakhs, it is 1% of the gross amount of currency exchanged.

SBI offers our retail customers retail currency outward remittance up to USD 25,000 per transaction and USD 2,500,00/-per calendar year. There is no set minimum for remittance amounts. I would suggest reaching out to SBI customer helpline number to get a better idea on the latest charges. This is all I know about SBI international wire transfer charges.

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My brother moved to Canada for his new job, so I am getting prepared to know more about online transactions nowadays. Since I have a bank account at SBI, I visited the bank to inquire about the SBI international transaction charges and learned about them from the officials. If you have the same concern, I can help you out.

How much does SBI charge for international transfer?

The SBI charges for international transactions as follow:

So this is the SBI charges for international transfer. 

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As you must know, you can make international bank transfers with the State Bank of India. You can transfer funds online to anywhere in the world after activating the beneficiary account. However, you will have to pay a fee for the same. Let me tell you about the SBI international money transfer charges:

SBI exchange rates and fees:

The State Bank of India generates a profit from applying a margin to the true mid-market value. That’s why banks are generally a more option to send money to any other part of the world.

The State Bank of India has its own foreign exchange rates for an international currency, and the average profit margins range from 1.0% to 3.0%. You might think that this margin is not much but it’ll have a detrimental effect on the transfer’s total value if you are sending large amounts abroad.

• Outward remittances in ₹: 0.125% of the total amount with a min. of ₹125

• Foreign currency outward remittances from NRO A/c via SWIFT/Wire transfer (SBI wire transfer charges): ₹100

Now you know about the SBI international wire transfer charges.

The additional costs solely include the taxes that are changed on every transaction. The tax rates are as follows:

This must have answered your query on “how much does SBI charge for international wire transfer”.

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This is all about the SBI international money transfer charges.