new Delhi. The families of thousands of Indians are stranded abroad amid the ongoing war crisis between Russia and Ukraine. In such a situation, the family will also need financial help for their return from Russia, Ukraine or its other neighboring countries.
SBI has given special facility to its account holders to send money abroad. However, for this, you must have an account of at least one year old, whose KYC is fully compliant. Also, your PAN should be linked to the account and should be empowered to send money abroad online. The Reserve Bank allows every Indian to send abroad up to $2.50 lakh annually.
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How to Add International Beneficiary
First of all log in to your account by visiting SBI website.
Click on -Payments/Transfers or My Accounts & Profile.
Then click on Add & Manage Beneficiary.
Submit by entering SBI profile and password here.
After this, after selecting the Outward Remittance Beneficiary, enter the account number and SWIFT code of the person to whom the money is to be sent.
On clicking on the register, an OTP will come which will be entered and added to the Beneficiary.
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It is also necessary to take approval from SBI
After logging in, click on Payments/Transfers.
Then click on Foreign Outward Remittance Transfer.
Proceed by selecting the -Resident Indian link.
Then click on approve, enter your profile and password and submit.
After a few hours, approval and OTP will come from the bank, on entering which the account will be activated to send money.
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Follow this process to send money
Log in to your account and click on Payments/Transfers.
Click on International Fund Transfer and select Foreign Currency.
Click on the term and condition and press the proceed button.
Enter the amount by selecting the beneficiary and fill other details including PAN.
On pressing the Proceed button, OTP will come, enter it and submit it.
Your money will be transferred to foreign account in 2 to 7 working days.
Tags: bank account, sbi
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