Hello I have this requirement of upgrading my Indian bank account for direct wire transfers. But i have NO knowledge about it. Please tell me the requirements and other details for receiving direct wire transfers in Indian Bank account. What are the documents required or formalities to be fulfilled wrt PNB.....
The company is US based ... There are two more companies based in other countries... What kind of codes or Bank formalities i need to fulfill before i can receive Direct Wire Transfers..?
You don't have to upgrade your regular bank account to accept wire transfers, Every bank account in any bank will accept a wire transfer from any country, For facilitating the wire transfer, you will need to have the following in hand 1) Your bank account number 2) Your Bank Swift Code 3) Your Bank Name and Address 4) Branch Code 5) Nostro Account (if available) The 1 to 4 should be more than enough for the person who is gone send the wire transfer to your bank account, All the above information will be provided by your bank officer, Update the above info to the person who wants to send the wire and your wired funds will be in your bank account in 2 to 3 days
To receive Wire transfers in your account, Your bank should have Some SWIFT enabled branches. You can get this service in your ICICI or Citibank accts.
Keep in mind that wire transfers cost a good deal. I am not sure of the exact amount, but the commission charged by the bank could be approximately $25 per transfer.
just go to your bank and speak to manager. Ask on wire transfer instructions and he will give you necesssary information. i tried with hdfc recently and wire came within 3 days.