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SERVICE CHARGES ON INWARD REMITTANCES TYPE OF TRANSACTION

Services for Exporters and Importers | Services for Domestic customers | SBBJ Expo Gold Card  | Export Credit Interest rate | Interest Gold Card | Service Charges

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Inward Remittances : Types of Transaction
Charges
 Encashment of TTs/Purchase of MTs/DDs in respect of which cover has been received in Nostro accounts Current TT buying rate, no exchange margin or interest to be charged.
 Encashment of TTs/Purchase of MTs/DDs where reimbursement is to be obtained in cover by drawing demand drafts on overseas branches or correspondent banks Current TT Buying Rate plus exchange margin @ 0.125% + interest @ 15% above BPLR for a Min. period of 10 days.
 Encashment of customer’s personal cheques, demand drafts, international money orders, banker’s pay orders, payable abroad Current TT Buying Rate + exchange margin @ 0.125% + interest @ 15% above BPLR for a Min. period of 10 days + Rs.100/=.
Clean Payment:
Charges
 Effected under instructions from foreign correspondents Payment against draft Rs. 100/=.
Payment against T. T. Rs. 150/=.
 When the inward remittance has to be paid in foreign currency by way of a demand draft/mail transfer/payment order/ telegraphic transfer. Rs. 600/= flat per transactions.
 Stop Payment Rs. 100/=.
 CERTIFICATES
Charges
 For issuing bank certificate on security paper in respect of clean remittances from abroad and/ or for encashment of foreign currency travellers cheques/ foreign currency notes. Rs. 120/= per certificate.
 Issue of certificates on Bank’s letter head (where rupee value of inward remittance does not exceed Rs. 5000/=.) Rs. 100/= per certificate.
 
SERVICE CHARGES ON OUTWARD REMITTANCES
(i)On all foreign currency outward remittances not being proceeds of import bills. Individual (Rs. 100/=). For other Rs. 600/= per Remittance + actual out of pocket expenses i.e. postage, courier & telegram charges.
(ii) Issue of duplicate foreign currency drafts Individual Rs.100/= + Actual out of pocket expenses.
Others - Rs. 300/= + out of pocket expenses.
 Rupee remittances:
Charges
(i) Up to Rs. 10000/= Individuals - 0.125% Min. Rs. 125/= in all cases.
Others - 0.30%; Min. Rs. 600/= in all cases.
(ii)Over Rs. 10000/= Individuals - 0.125% Min. Rs. 125/= in all cases. Others - 0.30%; Min. Rs. 600/= in all cases.
 Outward Remittances from FCNR (B)/NRE accounts Free of charge.
Clean Instruments For Collection:
Charges
On all clean instruments sent abroad. Individuals at 0.30%; Min. Rs. 300/=. Others - at 0.30% (Min.Rs.600/= Max. Rs. 25000/=)
Opinion Report for Exporter/Importer (Both) Actual paid to outside agencies + out of pocket expenses.
Forward Contracts
Charges
a. For booking sale and purchase contracts.

b. For each request for early delivery, extension or cancellation.
a. Rs. 700/= flat per contract

b. Rs. 700/= plus SWAP cost and cancellation charges wherever applicable.
Foreign Currency Travellers Cheques:
Charges
Sale of foreign currency travellers cheques:  
Commission on Rupee equivalent value of travellers cheques sold to Indian Residents 1%
Commission on foreign currency travellers cheques issued against foreign currency remittance at the request of the beneficiary. 0.25%
Guarantees:  
Guarantees favouring shipping companies/agencies pending production ogf bill of lading.
Other guarantess
0.30% for 3 months plus 0.150% for each additional month.
LCs opened by us Rs. 700/= flat
 

 

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