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What do i fill here?? Bank Wire Transfer to Indian Bank

Discussion in 'Payment Processing' started by abhishekdaaga, Nov 30, 2007.

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  1. #1
    Hello friends,

    I need to get some money from a website who will transfer me through BANK WIRE but I am confused with what to fill... Here are all details which they asking...

    I know some details

    Bank Information
    Bank Name: CORPORATION BANK
    Address: My Branch address i know
    City: Mysore
    State: Karnataka
    Zip: 570001
    Country: India
    SWIFT/Routing/ABA: ??????????

    Account Information
    Account Name: Abhishek Daaga (my name)
    Account Number: ****** My a/c number
    IBAN Number: ???????????

    What is this SWIFT/Routing/ABA & IBAN number ???
    one of my friend told that in INDIA SWIFT & IBAN code are same.. Is this true ??
    I know the IFSC code of my bank which is CORP0000--- where should i enter this ??

    Please help me regarding this

    Regards

    Abhishek
     
    abhishekdaaga, Nov 30, 2007 IP
  2. theraman

    theraman Peon

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    #2
    R u talking about transferring money in India from Paypal bank wire transfer.. If yes, PayPal only need IFSC code..
    I am not sure.. Is Corporation bank Supported.. I think not..
     
    theraman, Nov 30, 2007 IP
  3. compdee

    compdee Active Member

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    #3
    Hi there, I've done a couple of bank transfers. The information you are shorting is the info you need to get from the bank, you need to have the swift number etc. of the bank of the person you are transfering money to. Ask the person who you are sending the money to, to get the info from his bank, or call your bank, I'm sure they will have the info as well (if they are partnered -best is to ask the person to find out the info). At first this was tricky for me too. Just a tip: make 100% of your bank fees, I paid for a bank/swift transer R180 (wich is around $30). But other countries it might be cheaper, just make 100% sure. If you need some more info, feel free to PM me, I've done a couple transfers, and sure I can help you.
     
    compdee, Nov 30, 2007 IP
  4. Idiot Inside

    Idiot Inside Well-Known Member

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    #4
    Ok, let me explain you.

    IBAN is International Bank Account Number, if your bank provides you your account # in IBAN format, this is all you need to receive international wire transfers. All other information is just provided to facilitate the sender.

    And SWIFT Code is the code through which your bank is recognized.

    ABA Routing is (in simple words) code of the bank which acts as intermediate bank to receive funds, if you are receiving in USD.

    And, your friend is wrong. SWIFT and IBAN are not same.

    Now, let me tell you what info you need to send that website to successfully receive wire transfer.

    * Beneficiary Name (your name): <you know this already>
    * Beneficiary Account # (your account#): <you know this already>

    * Beneficiary Bank Name (your bank name): <you know this already>
    * Beneficiary Bank Address (your bank (local branch) address): <you know this already>

    * SWIFT Code: <ask your bank for this>

    * ABA Routing (required if you are receiving funds in USD): <ask your bank for ABA Routing of intermediate bank>

    Just collect this information and send over to the company you are getting paid from. You will surely get paid.

    To receive wire transfers, beneficiary name, account # and SWIFT code is the bottom line. You can ignore everything else, including ABA Routing.

    So, ignore what the company is asking .. just send them the info I said above and you should receive the money with no problem.

    Still have any question? Ask here or PM me.

    Hope it helps.
     
    Idiot Inside, Nov 30, 2007 IP
    Hungryforsuccess and (deleted member) like this.