SBI International Transfer: Fees, Rates & Limits 2026
If you bank with SBI (State Bank of India) and need to send money overseas, you'll want to know how the SBI international transfer process works.
This guide covers all you need to know about SBI international bank transfers from standard resident accounts, including costs, exchange rates, limits, timing and how to transfer money from SBI to international banks online.
It's the largest bank in India, but that does not necessarily mean SBI international transfers are your best choice if you need to send money overseas. Specialist services like Wise may be able to offer a faster and more convenient option.
Key points: SBI international wire transfer
Key point | Summary |
|---|---|
SBI international transfer time | Transfers processed through SWIFT usually take about 3 to 5 working days, while Instant Transfer from select SBI foreign offices can be completed within minutes. |
SBI international transfer limits | Customers can send up to USD 250,000 per financial year, with a maximum of USD 250,000 per transaction or per day in branch and USD 40,000 per transaction or per day via internet banking. |
SBI international transfer fees | SBI international remittances may include a transfer fee, an exchange rate markup and any relevant third party charges. |
SBI exchange rate markup | SBI applies a markup on the mid-market exchange rate. Markups vary but can be around 1% to 3%, which can add a meaningful cost to larger transfers. |
Receiving an international transfer with SBI | Inward remittances can include handling charges which vary depending on where the funds have come from, and the account you hold. |
TCS on outward remittances | Under RBI's LRS, TCS applies to outward remittances above ₹10 lakh per financial year. Rates vary by purpose - 0% for education via loan, 2% for self-funded education and 20% for many other purposes. TCS can usually be claimed in your ITR, subject to eligibility. |
Alternatives to SBI for international transfers | Specialist providers can offer a different mix of fees, exchange rates and delivery speeds, so it is worth comparing the total cost before you send. Important: Wise is not licensed to undertake money transfer services directly in India. Services are provided in partnership with banks that are registered and supervised by the RBI. |
SBI international money transfer: A comparison
There are several different charges involved in making an SBI international money transfer:
- Transfer fee — a fee paid to the bank to process the payment
- Exchange rate markup — a percentage charge built into the bank's TT selling card rate
- Agent and beneficiary bank fees — these may be deducted along the way, which means your recipient may get less than expected
To give an idea of how SBI compares with other payment services, here's what you'd pay if you were sending a standard transfer of 100,000 INR to a GBP denominated account.
Provider | Total cost | Transfer time |
|---|---|---|
SBI | Individuals: Nil Others: 0.10% Min Rs. 1,000 Max Rs. 10,000 exchange rate might include a margin any relevant third party costs | Payments processed through the SWIFT network typically take 3 to 5 working days |
Wise | 1,980.38 INR transfer fee | 74% of payments arrive in seconds* |
Price comparison based on Wise's publicly available pricing calculator accessed on 18th June 2026. Services in India are provided by Wise in partnership with banks. *The speed of transaction claims depends on individual circumstances and may not be available for all transactions</em>
The total cost can rise once the exchange rate margin and any SWIFT deductions are added in. If you're comparing providers, one thing worth knowing is that a low transfer fee does not automatically mean a cheaper transfer. The exchange rate often makes the biggest difference on higher amounts.
As you can see, in our comparison it's likely to be faster to send your payment with a specialist compared with SBI.
Because of the exchange rate markup that might be applied by the bank, it may also work out cheaper in the end. The good news is that specialist services like Wise are also easy to use with an intuitive online and in-app service.
SBI international transfer fees
SBI international remittances have a fixed transfer fee set in the currency you're sending, which is charged according to the bank's TT selling rate at the time of the transaction. Here's what you need to know:
| Transfer type | SBI international transfer fee |
|---|---|
| Standard telegraphic transfer | Online telegraphic transfer fees vary based on the currency, plus exchange rate markup and any relevant third party charges. Different fees may apply based on your account type, and if you arrange your transfer in a branch. |
| Receiving an international payment | Handling fees for inward remittances vary depending on where the payment originated from and the account type it is deposited in |
Information correct as of 18th June 2026
A common question is whether SBI international money transfer charges are easy to predict in advance. The risk here is that the visible fee is only one part of the cost — the exchange rate and intermediary deductions can change the final outcome.
SBI exchange rate
The international transfer exchange rate is also called the bank's TT selling rate.
Bank exchange rates usually include a markup — an extra fee added into the exchange rate offered to retail customers. This markup can often be around 3% or more, which may not look huge at first, but adds up quickly on larger transfers.
Here's how the exchange rate markup would shape up for different transfer amounts:
- Sending 50,000 INR — a 3% exchange rate markup adds 1,500 INR to the total
- Sending 100,000 INR — a 3% exchange rate markup adds 3,000 INR to the total
- Sending 500,000 INR — a 3% exchange rate markup adds 15,000 INR to the total
Need a cheaper alternative?
Specialist providers may offer a different option to bank transfers, with low transfer fees and the mid-market exchange rate.
This is what you'll pay with Wise if you send 100,000 INR to a GBP denominated account:
- Wise fees: 1,980.38 INR transfer fee and no markup on the mid-market exchange rate
The exchange rate markup is often the least visible fee. You may not see it as a separate line item, but it still affects how much foreign currency your recipient gets.
SBI International Transfer: Additional SWIFT and Intermediary Fees
It's worth bearing in mind that any payment processed through the SWIFT network might incur extra fees. These are usually deducted as the transfer is passed through the system, or just before it's deposited into the recipient's account. That can mean your recipient gets less than you're expecting in the end.
How long does an SBI international money transfer take?
SBI processes international transfers through the SWIFT network, working with banking partners around the world to deposit funds in overseas accounts.
SWIFT payments are reliable, but can take up to 5 days to process, depending on the specific banks involved.
Need a faster alternative?
Here's how that compares with the other providers we looked at earlier:
- SBI: SWIFT payments usually take 3 to 5 working days
- Wise: 74% of payments arrive in seconds*
If you're worried about delays, the key question is whether the payment is urgent. A property payment, tuition deadline or family emergency may make speed just as important as price.
*The speed of transaction claims depends on individual circumstances and may not be available for all transactions
Pros and cons of transferring money abroad with SBI
SBI international transfer pros | SBI international transfer cons |
|---|---|
✅ Easy online and in branch service ✅ Reliable and familiar ✅ Send to 200 countries up to RBI limits | ❌ Exchange rates are likely to include a markup ❌ SWIFT fees may apply, which pushes up overall costs ❌ Delivery time is not necessarily the best available |
Compare the overall costs and convenience of sending money with SBI versus using a specialist online service like Wise. You might find you can get an easier, more intuitive and faster service with a specialist provider.
Alternatives to SBI international transfer
As India's largest bank, SBI can be a convenient option if you already have an account there. However, there are several alternatives that may suit you better depending on fees, exchange rates, transfer speed and payment limits.
Provider | Coverage | Fee | Exchange rate | Speed | Limits |
|---|---|---|---|---|---|
SBI | 200 countries / 15+ via Instant Transfer | Individuals: Nil Others: 0.10% Min Rs. 1,000 Max Rs. 10,000 exchange rate might include a margin any relevant third party costs | Exchange rate includes a markup | 3 to 5 working days | In branch 250,000 USD /day; online 40,000USD/day |
Wise | 160+ countries from India† | Conversion fees starting from 1.16% | Mid-market exchange rate | 74% of payments arrive in seconds, most arrive in 24 hours* | 250,000 USD per financial year (April to March); 60,000 USD per transfer. |
OFX | 170+ countries | No transfer fee | Exchange rate includes a markup | 1 to 4 business days | No upper provider limit shown |
Remitly | 170+ countries | Fees vary by destination and service type | Exchange rate includes a markup | Variable depending on payment type | Limits depend on send country |
*The speed of transaction claims depends on individual circumstances and may not be available for all transactions. Wise services in India are provided in partnership with banks.
†Wise provides services in India in partnership with banks. Wise is not a bank and does not hold a money transfer licence in India.
Information correct as of 18th June 2026.
Wise
Wise lets customers send money to many countries from India, in partnership with banks, using the mid-market exchange rate and a clearly shown fee. If you want a simple online comparison point, you can also read Exiap's Wise review.
Wise pros | Wise cons |
|---|---|
✅ Mid-market exchange rates ✅ Fast delivery on many routes ✅ Fee discounts on larger monthly volumes ✅ Online and app-based service | ❌ Variable fees apply ❌ Funding options depend on route and region |
OFX
OFX can be relevant if you're comparing providers for transfers to India from abroad, especially for larger payments. For more background, see the Exiap OFX review.
OFX pros | OFX cons |
|---|---|
✅ Often no transfer fee ✅ 24/7 phone support ✅ Useful for larger transfers to India | ❌ Exchange rate includes a markup ❌ Does not currently support transfers from India |
Remitly
Remitly is mainly relevant through SBI's inward remittance partnership and for people sending money to India from abroad. For a fuller feature comparison, see the Exiap Remitly review.
Remitly pros | Remitly cons |
|---|---|
✅ Good range of payout options on supported routes ✅ Fast Express transfers available ✅ Strong reach for sending money to India | ❌ Fees vary by route and service ❌ Not a direct outward transfer option from India in the usual way |
SBI vs other Indian banks
If you're not sure whether SBI is competitively priced, it can help to compare it with other large Indian banks. The table below is indicative only and should be checked against each bank's live pricing before you send.
Bank | Approximate transfer fee | Approximate forex markup | What to know |
|---|---|---|---|
SBI | Nil for some individual outward remittances, or percentage-based for others | Around 1% to 3% | Strong branch network and online access |
HDFC | Often around Rs. 500 to Rs. 1,000 for outward remittances | Around 1% to 3% | Some services depend on route and account type |
ICICI | Often fixed outward remittance fees, route dependent | Around 1% to 3% | Online remittance tools are widely used |
Axis | Often around Rs. 500 to Rs. 1,000 for outward remittances | Around 1% to 3% | Limits and fee rules can depend on channel used |
Information correct as of 18th June 2026.
How to make an international transfer with SBI
Sending a payment overseas with SBI can be done online or in a branch. If you're sending online, you'll need to add the beneficiary first by using the International Beneficiary option in online banking.
Once you have the beneficiary set up, here's what to do:
- Log into online banking with SBI
- Go to Payments & Transfer
- Select International Beneficiary
- Complete the Remittance Application Form following the online prompts
What information do you need to make an international transfer with SBI?
You can expect to need:
- The full name of the person you're paying
- Their account number
- Their bank's name and address
- Additional information based on the country — such as a sort code for the UK or routing number for the US
- Reason for payment
Countries to send money with SBI
Payments can be made to over 200 countries in 90+ currencies, although RBI restrictions apply to certain remittances to Nepal and Bhutan. Payments can be made in USD, GBP, EUR, AUD, SGD, CAD, AED, NZD and many other currencies.
Digital payments can only be made in USD, EUR, GBP, CAD, AUD, NZD, SGD & AED.
SBI international transfer limits
Under RBI regulations, resident Indians can remit up to USD 250,000 per financial year under the Liberalised Remittance Scheme. SBI also applies channel-based limits, so the bank's own daily cap can be lower than the RBI yearly cap.
It's also helpful to know that you can only send up to 500,000 INR to a new beneficiary within the first 4 days of adding them.
| Channel | Limit |
|---|---|
| In branch | USD 250,000 or equivalent per transaction or per day |
| Through INB | USD 40,000 or equivalent per transaction or per day |
Information correct as of 18th June 2026.
For more background on high-value payments, see Exiap's guide to international money transfer limits.
TCS on SBI international transfers
Tax Collected at Source, or TCS, is a tax collected on certain outward remittances under the Liberalised Remittance Scheme. In practice, this means the authorised dealer may collect tax when your total outward remittances cross the yearly threshold.
TCS generally applies once your outward remittances exceed ₹10 lakh in a financial year. The threshold is tracked across eligible remittances — not just a single transfer.
| Purpose | TCS rate |
|---|---|
| Education funded by loan | 0% |
| Education, self-funded | 2% on amount above ₹10 lakh, or 5% with an inoperative PAN, applicable from 1 April 2026 |
| Other purposes, including travel, gifts and investments | 20% on amount above ₹10 lakh |
Information correct as of 18th June 2026.
TCS is usually not a final cost in itself, because eligible taxpayers can generally claim credit for it when filing their Income Tax Return.
This is general guidance only. Tax rules can change — consult a qualified tax professional for advice specific to your situation.
How to receive an international transfer with SBI
If someone sends you money from overseas, they'll usually need your full name, bank account number and the SBI SWIFT code. The method used affects both speed and cost.
Method of transfer | Time taken |
|---|---|
SWIFT | 3 to 5 business days |
Instant Transfer | Within minutes |
Demand Draft | 7 to 28 days |
Foreign Currency Cheques | 10 to 60 days |
SBI Express | 10 minutes to 2 hours |
Remitly | Variable depending on payment type |
SBI SWIFT code
The general SBI SWIFT/BIC code is SBININBBXXX.
You can also look up your specific branch SWIFT code in your internet banking or on the SBI desktop site.
Instant Transfer
SBI offers an Instant Transfer service from selected foreign offices in 15 countries, including Australia, Canada, Singapore and the UK. This can be one of the quickest options for sending rupee remittances into India.
Demand Draft
A sender can obtain a demand draft in foreign currency and mail it to you. This is usually slower, but it may suit some people who prefer paper-based payment methods.
Foreign Currency Cheques
Foreign currency cheques can be deposited into an SBI account, but the collection period can be long. The final credit can also be affected by collection charges and exchange margin.
Middle East partnerships: SBI Rupee Flash and SBI Express Rupee
For remittances from the Middle East, SBI works with partner exchange houses and banks in countries such as Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. SBI Rupee Flash provides instant credit, while SBI Express Rupee typically credits within 30 minutes.
Remitly
SBI has a partnership with Remitly for remittances from supported countries to India. Funds can be credited via Direct Credit, NEFT, IMPS or RTGS, depending on the transfer option selected.
GST on inward remittances
GST does not apply on the amount being remitted itself, but is charged at 18% on the cost of fees and margins applied by SBI.
SBI charges calculator: SBI does not currently provide a publicly accessible calculator. Customers can log in or contact their local branch for a breakdown before sending.
Large amount transfers with SBI
SBI works within the RBI LRS cap of USD 250,000 per financial year for resident individuals. The practical limit can be lower if you are using internet banking rather than visiting a branch.
How to send a high amount transfer with SBI
In-branch transfers: You can request an outward remittance at your local SBI branch by filling in the required forms and providing documentation.
Online and mobile banking:
- Add a beneficiary: Log in to SBI online, go to "Payments/Transfers", select "Add & Manage Beneficiary" and choose "Foreign Outward Remittance Beneficiary"
- Initiate your transfer: Once approved, return to "Payments/Transfers", select "International Funds Transfer" and proceed with "Foreign Currency Transfer/Remittance"
You can also send via the SBI YONO app once mobile banking is activated and the international beneficiary is added.
Need to send a larger transfer?
For volumes beyond SBI's internet banking limit, Wise, operating in partnership with banks in India, offers automatic fee discounts when you send above a monthly threshold.
| Transfer value per month | Discount |
|---|---|
| Up to 25,000 USD or equivalent | No discount |
| 20,000 GBP to 300,000 GBP or equivalent | 0.1% |
| 300,000 GBP to 500,000 GBP or equivalent | 0.15% |
| 500,000 GBP to 1 million GBP or equivalent | 0.16% |
| Over 1 million GBP or equivalent | 0.17% |
OFX has no stated upper transfer limit, but it does not currently support transfers from India. It can be used for transfers to India from abroad.
SBI international transfer receiving fees
SBI receiving fees vary based on the country your payment is sent from and other factors.
SBI remittance tracker
For UPI transactions via the SBI Personal App, track the status through UPI Payment History.
If the remittance was processed via SBIePay, use the SBIePay tracking page with the merchant reference number and date.
For wire transfers: visit remit.sbi and enter the reference number and beneficiary account number.
SBI remittance customer care
SBI offers multiple customer support channels for remittance queries:
- Toll-free: 1800 1234, 1800 2100, 1800 11 2211, 1800 425 3800
- Toll: 080-26599990
- Unauthorized transactions: 1800 11 1109, 94491 12211, 080-2659 9990
- Email: [email protected], [email protected]
- Post: Customer Service Department, State Bank of India, State Bank Bhavan, 16th Floor, Madam Cama Road, Mumbai 400 021
Conclusion
Sending your international transfer with your normal bank may seem like the obvious choice. But there are other options, which may be able to provide a cheaper, more efficient and easier service.
Check out specialist providers like Wise to see if you can save versus sending your online international money transfer with SBI.
FAQs
Sources
- Reserve Bank of India — Liberalised Remittance Scheme FAQs
- SBI - Outward Remittance
- SBI — Foreign Inward Remittance, Personal Banking
- SBI — Remittance through Remitly
- SBI — Remittances from the Middle East
- Wise — Fees for sending money from India
- Wise — Large amount transfers from India
- ClearTax — GST on foreign exchange transactions