Which Bank is Best for International Transactions?

If you have ever made an international transaction, you must be aware that you need to be aware of all the options for making a secure payment. And if you ask me, I would any day prefer to make a transaction through my own bank. But I must also tell you that making an international transfer through your own bank can be easy but expensive because there are many third-party charges that are involved in the transaction. So, it may happen that your recipient receives lesser than you intended to send them.

In this answer, I will walk you through which bank is good for international transactions.

Best bank for international transactions in India

If you ask me, the following is the list of the best banks for international transactions in India.

• ICICI

• HDFC

• PNB

• SBI

• Axis

But when the question comes to the best bank account for international transactions, there are certain rates and fees that you need to be aware of. However, you need to know that for international transactions, your own bank may not be the best choice. As I already mentioned above, transactions through your own bank may involve certain extra fees. But alternative providers can offer this service at a cheaper rate and the delivery can be quicker too.

Best bank for foreign transactions in India

To illustrate, I am taking an example of sending 5,000 INR to the UK, with the selected banks listed above.

You can now make an informed decision about which bank is good for international transactions if you are thinking of choosing between any of the banks that are mentioned above.

Understanding your banking might be very difficult for visitors to India who are NRIs or newcomers from abroad. I have shared the list of all foreign banks in India and I will also share the best international bank in India for making international transactions in my honest opinion.

Which Indian bank is best for international transactions?

The following list will guide you on which bank is best for international transactions in India:

• State Bank of India (SBI)

• HDFC Bank

• Union Bank of India

• Canara Bank

• Indian Bank

• ICICI Bank

• Axis Bank

• Punjab National Bank (PNB)

• Bank of Baroda

Which is the best Indian bank for international use?

1) ICICI Bank

Another significant Indian private sector bank with a reputation for offering international banking services is ICICI Bank. Among other things, it provides forex services, foreign exchange accounts, and overseas transfers.

2) State Bank of India (SBI)

SBI is India's largest public sector bank and has a large network of branches and ATMs, both domestically and abroad. It provides a variety of foreign exchange services, such as overseas remittances and foreign exchange accounts.

3) HDFC Bank

One of the biggest private sector banks in India, HDFC Bank has a wide branch network and ATMs both domestically and abroad. It provides a selection of foreign exchange services, such as international wire transfers and foreign exchange accounts.

Now you know about the best international bank in India.

International transactions are very important as a single issue can result in the total failure of the payment and thereby delay it. My uncle had an account in an unpopular bank and whenever he tried to send money to my cousin studying in Russia, his transaction would fail. I myself did not know which is the best bank for international transactions India so asked him to talk with one of his friends who is a bank official. If you too are trying to find the answer for the same query, let me help you out. 

Which is the best bank in India for international transactions?

After much discussion my uncle understood that for international transaction, four banks are providing the best service that are:

• State Bank of India

• HDFC Bank

• Axis Bank

• Yes Bank

These banks have a lot of customers so have always aimed to better themselves at any cost. They also provide hassle free international transactions and thus have topped the loss of safe and secure international transactions.

My uncle, after knowing

which bank is best for international transactions,

got his account shifted to SBI and now faces no such trouble of transaction failure. So you can choose any one of the banks mentioned above and get your international transactions done safely.

This is what I know about the

best bank for international transactions but if you have more suggestions, do share it here.