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Home > NRI Services > Procedure for Remitting Funds  
 
 
  Procedure for Remitting Funds
   
 

As a Non-Resident Indian (NRI), you are entitled to special benefits and privileges.

At IDBI Bank, our NRI Services have been specially designed for those who take world-class services for granted. Using our technological prowess, IDBI Bank provides six options to enable a fast, economical and convenient Fund Transfer. So read on and choose the option that fits your needs.

Online transfer from UK using ‘India Remit”
This is a simple mode of transferring funds for those based in UK. Just follow these three easy steps for a convenient, economical and secure transfer:
  • Click on IndiaRemit appearing on our website www.idbibank.com.
  • Register once by providing details to initiate the transfer through your local banker to credit your I account.
What's more, you can send funds to the IDBI accounts of any of your family members as well. For recipients having accounts with other banks in India, IDBI will courier a Rupee draft directly to the credit of their account or transfer through NEFT/RTGS.


Foreign Currency Cheque / Draft
If you are a non-US based NRI and wish to send remittance using a cheque or a draft, either in foreign currency or INR, all you have to do is dispatch the cheque/draft to your branch.


Foreign Currency & Travelers' Cheques
While on a visit to India, you can also encash your Foreign Currency & Travelers Cheques through us & deposit the proceeds to your account with us.


Wire Transfer

You can also remit money directly through our correspondent banks mentioned below:
LIST OF OUR CORRESPONDENT BANKS

Currency

Correspondent Bank

Account No.

Swift Address

US Dollar (USD)

USD

Citibank N.A, New York

3615-1898

CITIUS33

USD

Deutsche Bankers Trust Company, New York

04-169-786

BKTRUS33

USD

Bank of New York, New York

8900-418-613

IRVTUS3N

USD

Wachovia Bank, New York

2000-193-00-1493

PNBPUS3NNYC

USD

Standard Chartered Bank, New York

3582-0670-16001

SCBLUS33XXX

USD

J P Morgan, New York

811165505

CHASUS33

USD

Bank of India, New York

00000-43763

BKIDUS33XXX

Euro (EUR)

EUR

Commerzbank

400875045700

COBADEFF

EUR

Deutsche Bank AG, Frankfurt

(100)9534132-00

DEUTDEFF

EUR

Wachovia Bank, London

4696162

PNBPGB2L

Pound Sterling (GBP)

GBP

Standard Chartered Bank, London

01-70876-2401

SCBLGB2LXXX

Swiss Franc (CHF)

CHF

Union Bank of Switzerland, Zurich (Swiss Franc)

230-94752.05Y

UBSWCHZH80A

Japanese Yen (JPY)

JPY

Citibank, Tokyo

0-221-843-401

CITIJPJT

Canadian Dollars (CAD)

CAD

Royal Bank of Canada

95911030634

ROYCCAT2xxx

Other Currencies

AED

Abu Dhabi Commercial Bank

100626001001

ADCBAEAAxxx

AUD

HSBC Bank Australia Limited

011-795861-041

HKBAAU2SSYD

SGD

Deutsche Bank

2773679-00-0

DEUTSGSGxxx

SEK

Skandinaviska Enskilada Banken

52018560867

ESSESESS

NOK

Nordea Bank Norge Asa

60010206203

NDEANOKKxxx

HKD

Hongkong and Shanghai Banking Corp Ltd

502379365001

HSBCHKHHHKH

DKK

Den Danske Bank, Copenhagen (Danish Krone)

3996-070-794

DABADKKK



Instructions to be given to your banker:
(Specimen Format)
Please remit (currency + amount) USD 1000 to IDBI Bank Ltd, Mumbai Account No.3615-1898 with Citibank N.A,New York (correspondent bank name and location)(Swift Code CITIUS33) for further credit to my Account No 1234123412341234 with IDBI Ltd.(Swift code IBKLINBB) Andheri ,Mumbai (branch and city),India.

Additional information to be given for fixed deposits:
Proceeds to be placed as a fixed deposit (NRE/NRO/FCNR-B) for a period of 36 months, with IDBI Bank Ltd,Andheri, Mumbai (branch and city). My Customer ID is 123456 .

Online transfer from Gulf and Far East via Exchange Houses
This facility is available for NRIs based in Gulf and Far East region. You can now make a Speed Remittance from any of the Exchange Houses listed below, directly for credit to your IDBI Bank account. The funds would be credited to your account within 1 working day.


 

Name of the Exchange House

Country

Mode of Transfer

UAE Exchange Centre

Abu Dhabi - UAE

Speed Remittance

Orient Exchange Co. LLC

Dubai, UAE

Speed Remittance

Al Ahalia Money Exchange Bureau

Abu  Dhabi, UAE

Speed Remittance

National Exchange Co.

Doha, Qatar

Speed Remittance

National Finance & Exchange Co.

Manama,Bahrain

Speed Remittance

Musandam Exchange

Muscat, Oman

Speed Remittance

Al Jadeed Exchange

Oman

Speed Remittance

Alamoudi Exchange Co

Saudi Arabia

Speed Remittance

GCC Exchange

Dubai, UAE

Speed Remittance

Citi Exchange Company

Doha, Qatar

Speed Remittance

Al Fardan Exchange Dubai, UAE Speed Remittance
 
Money Transfer Services
Enables non-residents to send personal remittances towards family maintenance to beneficiaries in India
Benefits:
  • Quick - within 10 minutes
  • Convenient
  • Reliable
  • Simple - only need to fill in a form, no requirement to have a bank account

We have tie-ups with the following reputed companies for money transfer services:
  • Moneygram Money Transfer
  • 'Xpress Money' Service offered by UAE Exchange & Financial Services Ltd
  • Western Union Money Transfer
  • Coinstar Money Transfer
For details, please visit our Money Transfer FAQ page
   
   
   
 
     
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