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Discussion in 'Payments' started by Pinoy, Feb 2, 2015.

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  1. i_the_maximus

    i_the_maximus Member

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    #221
    MIB India in SBI bank; 20 dollar less; Forex service charge; Rs 72 , Forex commission Rs 25 and the conversion rate is 61.65.
    SEMrush
     
    i_the_maximus, Feb 25, 2015 IP
    SEMrush
  2. santoshroy18

    santoshroy18 Member

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    #222
    Wire transfer is much better than cheque... SBI bank process forex transaction same day or next day... Corporation bank hopefully within next 2 days... Will suggest to switch to sbi bank... Anyws dont forget to share your conversion rate once get MIB...
     
    santoshroy18, Feb 25, 2015 IP
  3. vinay24k

    vinay24k Member

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    #223
    @peepin2me
    My bank is also Corporation bank but i didnt get MIB yet. Hoping i will get it tomorrow. Otherwise have to go to bank.
    I used SWIFT code of the main branch in my city as my branch didnt have its own swiftcode. is it ok?
     
    vinay24k, Feb 25, 2015 IP
  4. peepin2me

    peepin2me Well-Known Member

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    #224
    As far as I know, each bank will have it's own swift code. I'm not sure if using the wrong swift code will cause any delay. Suggest you check with your branch manager tomorrow.

    I got an email from the bank this afternoon asking for the purpose code. Once I sent them the reply, the funds got credited into my account within an hour.
     
    peepin2me, Feb 25, 2015 IP
  5. santoshroy18

    santoshroy18 Member

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    #225
    Suggest you to Change your swift code provided in sbi bank site.. You ll get much better conversion rate and low charges....
     
    santoshroy18, Feb 25, 2015 IP
  6. i_the_maximus

    i_the_maximus Member

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    #226
    My branch doesnt have its own swift code and they said they have tie up with their NRI SBI branch (Madhapur). So using the swift code of NRI branch. can i opt for any other branch swift code, wont that be an issue? if yes i can opt for yallareddyguda branch.
     
    i_the_maximus, Feb 25, 2015 IP
  7. santoshroy18

    santoshroy18 Member

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    #227
    The best one you can find on sbi website...
    SBININBBFXD which you can find here. https://www.onlinesbi.com/nri/remittances/sbinri_rem.html. Previously I used the swift code which bank provided me.. But they charged me a lot. Then talk over phone with sbi customer care they provided me this central swift code which is faster and charges less fee..
     
    santoshroy18, Feb 25, 2015 IP
  8. i_the_maximus

    i_the_maximus Member

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    #228
    Thanks a lot.
     
    i_the_maximus, Feb 25, 2015 IP
  9. vinay24k

    vinay24k Member

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    #229
    MIB India - Corporation Bank
    Effective exchange rate after including all fees and charges $1 = INR 61.88
    Spoke to Forex dept of Corporation bank in my city over phone and they said they will process the trasaction asap. With-in 1 hour Amount is credited into the account.
     
    vinay24k, Feb 26, 2015 IP
  10. peepin2me

    peepin2me Well-Known Member

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    #230
    Glad it turned out well. Corporation bank provides very good customer support and from what I've noticed they offer the best exchange rate. Since they use an intermediary bank, it takes an additional day for the funds to be credited, when compared to banks like ICICI, HDFC, SBI etc which do NOT use an intermediary bank.
     
    peepin2me, Feb 26, 2015 IP
  11. healthytalk

    healthytalk Banned

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    #231
    ING Vysya Bank, New Delhi, India, No MIB yet..
    Man this bank is annoying now..
    I am only using for their exchange rate.
     
    healthytalk, Feb 27, 2015 IP
  12. SKULL

    SKULL Prominent Member

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    #232
    Anyone still waiting on there payment i am in the UK
    Still not got mine.
     
    SKULL, Mar 1, 2015 IP
  13. samantha1211

    samantha1211 Greenhorn

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    #233
    I got mine on the 25th. What bank are you with?
     
    samantha1211, Mar 1, 2015 IP
  14. SKULL

    SKULL Prominent Member

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    #234
    Well it not just i not got paid , i also do not see this months currant balance or should i say last months what would be feb?
     
    SKULL, Mar 1, 2015 IP
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