FOREIGN INWARD
REMITTANCE - TIPS TO THE REMITTER
For transferring funds from a foreign country through our Nostro account, for crediting an account
with any of our branches, the remitter abroad is required to fill up the following particulars in the fund
transfer application for smooth transfer of the funds to the ultimate
beneficiary.
|
1. PAY TO (Field 56 : Intermediary bank) |
-
Name and address of our Correspondent Bank
for the respective currency -
Swift Code -[Mention the code of the
correspondent bank] -
Bank Clearing Code [Mention the FEDWIRE
Routing No / CHIPS ABA No of the correspondent, for remittance in USD and
CHAPS SORT CODE of the correspondent for remittance in Pound Sterling &
IBAN No of correspondent for remittance in EURO ] |
|
2.FOR CREDIT OF (Field 57) |
-
Beneficiary bank: Mention State Bank of
Travancore, Foreign Exchange Department, Ernakulam SWIFT BIC SBTRINBBFED -
Account No
........[Furnish our
Nostro a/c no. with the correspondent Bank mentioned under item No.1] |
|
3.BENEFICIARY CUSTOMER (Field 59
: Ultimate beneficary) |
-
State Bank of Travancore......
..
Branch -
Name ..................(Beneficiary A/c holder's
name) -
Account No ...........( beneficiary's 11 digit
account number with SBT) |
|
4.REMITTANCE INFORMATION (Field 72) |
Mention purpose of remittance
eg. For opening FCNR a/c for
.Yr./ For NRE TD/STD Deposit for
.Yr./For
crediting NRE / NRO SB account
. etc |
* The remittance information should be clearly indicated to avoid wrong conversion of funds meant for depositing in FCNR(B) deposits into Indian Rupees. The conversion and re-conversion to foreign currency may entail loss to the depositor due to rate change.
|
For hassle free transfer of funds please ensure that the
funds transfer is effected only through our Correspondent Banks |
Examples for
filling up the applications, if the remitting bank is other than our
correspondent bank, are given below for your guidance.
Example 1. For remitting US Dollars
through our nostro a/c with JP Morgan Chase Bank N.Y, item no. 1 & 2 in the
application should be filled as follows:
|
1.
PAY TO (Field 56 : Intermediary bank) |
JP
Morgan Chase Bank (Chase
Manhattan Bank, New York SWIFTBIC CHAUS33 CHIPS
ABA no.CP 0002 FEDWIRE Routing no. 021 000 021) |
|
2.
FOR CREDIT OF (Field 57) |
State
Bank of Travancore Foreign Exchange Department, Ernakulam
SWIFTBIC-SBTRINBBFED CHIPS UID No.053666 Chase
A/C No.001-1-406 493 |
Please note that CHIPS ABA No. & CHIPS UID No.
are relevant only for New York Clearing House transactions and FEDWIRE ABA No.
is relevant for Federal Reserve clearing transactions
Example 2. For remitting GBP
through our Nostro a/c with Standard Chartered Bank , London, item no. 1 &
2 in the application should be filled as follows:
|
1.
PAY TO (Field 56 : Intermediary bank) |
Standard
Chartered Bank,London SWIFTBIC
SCBLGB2L CHAPS
SORT CODE : 60-91-04 |
|
2.
FOR CREDIT OF (Field 57) |
State
Bank of Travancore Foreign Exchange Department, Ernakulam SWIFTBIC-SBTRINBBFED
A/C
No.01250752801 |
Example 3. For remitting EURO
through our nostro a/c with Deutsche Bank AG, Frankfurt, item no. 1 & 2 in
the application should be filled as follows:
|
1.
PAY TO (Field 56 : Intermediary bank) |
DEUTSCHE
BANK AG,Frankfurt SWIFTBIC
- DEUTDEFF IBAN
No:DE 24 5007 0010 0953 |
|
2.
FOR CREDIT OF (Field 57) |
State
Bank of Travancore Foreign Exchange Department, Ernakulam SWIFTBIC-SBTRINBBFED
A/C
No. 100953427200 |
For remitting in other currencies, the name of our
correspondent bank for the currency is to be mentioned under Item No.1 and
Foreign exchange Department address,SWIFT BIC and the respective Nostro account
number is to be furnished under Item No.2. Item 3,4,&5 will be common for
all currencies and are to be completed in full.