SBI International Transfer: Fees, Rates & Limits 2025

If you bank with SBI (State Bank of India) and need to send money overseas, you'll want to know about how the SBI international money transfer process works. This guide covers all you need to know about SBI international bank transfers from standard resident accounts, including how much it costs, the exchange rate and the process to transfer money abroad with SBI.

It's the largest bank in India, but that doesn't necessarily mean that 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

SBI international money transfer: A comparison

There are several different charges involved in making an SBI international money transfer:

• Transfer fee - this is a low fee paid to the bank, to cover the costs of processing the transfer

• Exchange rate markup - percentage charge incorporated in the bank's TT (telegraphic transfer) selling card rate

• Agent and beneficiary bank fees - these may be paid by the beneficiary, meaning they may receive less than you expect in the end

To give an idea of how SBI compares with other payment services, let's look at an example.

Here's what you'd pay if you were sending a standard transfer of 100,000 INR to a GBP denominated account, with SBI and a few specialist services.

Information correct as of 08/02/2025.

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:

*Information correct as of 08/02/2025

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 which is added into the exchange rate offered for retail customers. This markup can commonly be about 3% or more - which doesn't sound too bad, but which does mount up quickly.

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 like Wise might offer a cheaper alternative to bank transfers, with low transfer fees and mid-market exhcange rate.

Here is a reminder of This is what you'll pay with Wise, if you send 100,000 INR to a GBP denominated account:

 Wise fees.: 1,727.22 INR transfer fee and no markup on the mid-market exchange rate.

SBI additional 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 - 5 working days

• Wise: 80% of payments arrive in 24 hours

Pros and cons of transferring money abroad with SBI

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 is a good choice for making international transfers - especially if you are already a customer. However, there are several other alternatives that could be better for you when it comes to fees, exchange rates and transfer speeds.

*Information correct as of 08/02/2025

Wise

With Wise, you can send money internationally to over 40 countries. You can make international transfers using the mid-market exchange rate with no markups and low, transparent fees starting from 1.16%.

Transfers are typically completed within 0-2 business days, with 80% of payments arriving within 24 hours.

High-value transfers qualify for automatic discounts on fees when you send over 20,000 GBP (around 2 178 090,00 INR) while the maximum amount you can transfer depends on the recipient type, with limits up to 100 million INR per transfer to a private individual.

OFX

OFX has no transfer fees and no upper transfer limit, making it a good option for making high value international transfers. With OFX, you can send money in 50+ with competitive exchange rates that include a small markup. Business customers can also open a Global Currency Account to receive and hold funds in seven different currencies.

Unlike many providers, OFX offers 24/7 phone support, making it a good alternative if you prefer hands-on assistance. While it doesn't support transfers from India, it facilitates transfers to India from over 170 countries and transfers are usually completed within 1-2 business days.

It's worth noting that currently OFX doesn't support transfers from India, however you can use OFX to send money to India from overseas.

Remitly 

Remitly normally allows users to send money to India, but not send it - which makes its partnership with SBI a useful option for making outgoing transfers. Thanks to this collaboration, Remitly users can transfer funds internationally via SBI, providing a trusted way to send money abroad.

Remitly's partnership with SBI supports transfers from over 17 countries, with fees and exchange rates that vary based on the transfer amount and method. Transfers can be completed in minutes or within 3-5 business days, depending on the chosen service with multiple payout choices, including bank deposits, mobile money, and cash pickups in certain destinations.

It's worth mentioning that currently Remtily doesn't support transfers from India, however you can use Remitly through SBI, to send money to India. You can send send money to India from overseas with Remitly.

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 a payment online you'll need to add the beneficiary first - this can be done by looking for the international beneficiary tab in your online banking profile.

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

You'll also need to ensure that your account is KYC compliant with an updated PAN. An inoperative PAN can lead to higher Tax Collected at Source (TCS) rates and other complications.

To avoid such issues, verify that your PAN is active and linked to your Aadhaar before proceeding with your transfer.

What information do you need to make an international transfer with SBI?

The exact information you need to arrange your payment will depend a little on the currency and country you're sending to. 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 - like 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 although RBI restrictions apply to payments to Nepal, Bhutan, Pakistan and Mauritius. Payments can be made in USD, GBP, EUR, AUD, SGD, CAD,  AED, NZD and 89 other currencies.

SBI international transfer limits 

Under RBI regulations, resident Indians are allowed to send outward remittances to a maximum value of 250,000 USD per calendar year, although restrictions may apply on the purposes for which funds can be transferred out of India. SBI allows customers to send up to the equivalent of 25,000 USD per transaction, to the RBI maximum of 250,000 USD/year.

It's also helpful to know that you can only send up to a maximum of 500,000 INR to any beneficiary within the first 4 days of adding that beneficiary to your SBI account.

*Information correct as of 08/02/2025

How to receive an international transfer with SBI

If someone sends you a payment from overseas you'll need to make sure they have your full name, bank account number, the SBI SWIFT code and any other details their bank requires to process the transfer. There may be a fee to pay depending on your account type and the specific detail of the transfer.

SBI SWIFT code

SWIFT codes are unique identifiers assigned to banks all over the world, and used to make sure payments are processed quickly and safely. You'll need the SBI SWIFT code if you're expecting a payment - otherwise your transfer may be delayed or rejected.

The general SBI SWIFT/BIC code is SBININBBXXX

You can also look up your specific branch SWIFT code, on your internet banking, or the SBI desktop site.

Instant transfer

SBI offers an Instant Transfer service from its foreign offices in 15 countries, including Australia, Canada, Singapore, and the UK. This facility allows real-time rupee remittances to your SBI account in India or to accounts in other banks via NEFT/RTGS.

It's one of the fastest ways to receive funds, but charges for instant transfer vary by branch and may be concessional for account holders. For specific fee details, you can contact the SBI branch in your country.

Demand draft

A sender can obtain a demand draft in foreign currency and mail it to you. Once you've received the draft, you can deposit it into your SBI account. The bank will process the draft, and after collection, the proceeds will be credited to your account. If currency conversion is required, the exchange rate on the date of conversion will apply.

Foreign currency cheques

If someone sends you a personal cheque drawn on a foreign bank, you can deposit it into your SBI account. The collection period varies depending on the country, local clearing regulations, and the bank's location. SBI applies collection charges and may also levy interest and exchange margin fees.

For remittances from the Middle East, SBI has partnered with various exchange houses and banks in countries such as Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE. Through services like SBI Rupee Flash and SBI Express Rupee, funds can be transferred to your SBI account in India. SBI Rupee Flash typically credits funds within 10 minutes, while SBI Express Rupee does so within 2 hours.

Remitly 

SBI has partnered with Remitly to facilitate transfers from 17 countries, offering competitive exchange rates and, in some cases, zero remittance fees depending on the transfer amount and method.

To receive money via Remitly, the sender needs to use the Remitly mobile app or website to initiate the transfer. Funds can be credited to an SBI account in India through Direct Credit, NEFT, IMPS, or RTGS, depending on the transfer option selected.

Remitly currently supports transfers from: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Singapore, Spain, Sweden, UK, and USA.

Large amount transfers with SBI

The State Bank of India (SBI) has a maximum limit of up to 250,000 USD per financial year.

As a result, international transfer limits can be quite low compared to online providers and are restricted to up to 250,000 USD or its equivalent per transaction/per day or up to 25,000 USD or its equivalent per transaction/per day for internet banking transfers.

How to send a high amount transfer with SBI

To initiate a high-value international transfer with SBI, customers have several different methods at their disposal:

In-branch transfers

You can request an outward remittance at your local SBI branch by filling out the necessary forms and providing required documentation.

Online and mobile banking

Initiate an international transfer through SBI's convenient online banking portal. Simply:

• Add a beneficiary: Log in to your SBI online account, navigate to the "Payments/Transfers" section, and select "Add & Manage Beneficiary." Choose "Foreign Outward Remittance Beneficiary" and input the beneficiary's details.

• Initiate your transfer: Once the beneficiary is added and approved, return to the "Payments/Transfers" section, select "International Funds Transfer," and proceed with "Foreign Currency Transfer/Remittance." Follow the prompts to complete the transaction.

You can also make a transfer via SBI's YONO (You Only Need One) app. Just make sure that your mobile banking is activated and that you've added the international beneficiary before initiating a transfer.

Need to send a larger transfer?

If you need to send a larger international transfer beyond the 250,000 USD in branch limit or 25,000 USD internet banking limit set by SBI, you might want to explore alternative providers.

Services like Wise and OFX offer higher transfer limits alongside competitive fees, which could make them more suitable for your high-value payments.

Wise

Wise offers automatic discounts on fees for customers sending large amounts. When you send over 20,000 GBP (around 2,178,090 INR) in a calendar month, Wise applies a lower fee on the amount exceeding this limit. The more you send, the bigger the discount.

For example, if you send between 20,000 GBP and 300,000 GBP, you get a 0.1% discount. For even higher amounts, the more you spend, the lower your fee is.

*Information correct as of 08/02/2025

Transfers are typically completed within 0-2 business days, with 80% of payments arriving within 24 hours and at the mid-market exchange rate.

OFX

OFX has no transfer fees and no upper transfer limit, meaning you can send as much currency as you need to, but daily bank transfer limits may apply. However, there is a minimum transfer amount of 150 Euros in all major currencies.

OFX doesn't currently support transfers from India. Instead, OFX allows customers to send high value payments to India from over 170 countries, which are processed at a small exchange rate markup.

SBI international transfer receiving fees

When receiving an international transfer with SBI, inward remittance charges apply, which vary based on the sender's location and the amount credited. Below is a breakdown of SBI's fees for handling inward remittances.

• From all countries except the Middle East: Rs. 50 per remittance

• From the Middle East: Rs. 25 for conversion of foreign currency into Indian Rupees

GST on inward remittances

In addition to standard fees, inward remittances are subject to GST, calculated on a tiered basis depending on the amount credited:

*Information correct as of 08/02/2025

SBI international money transfer charges calculator

SBI does not currently provide a publicly accessible international money transfer charges calculator on its website. Customers might have access to this once they have logged into their account online or via the app. Customers can also refer to SBI's fee structure or contact their local SBI branch to get an exact breakdown of charges before initiating an international transfer.

SBI remittance tracker

For transactions made through the SBI Personal App using UPI, you can track your transaction status by logging into the app, navigating to UPI, and then selecting 'UPI Payment History'.

If your remittance was processed via SBIePay, you can track it by visiting the SBIePayTransaction tracking page. Enter your details, including as the merchant reference number and transaction date, to view the status.

Alternatively, for wire transfers and other remittance services, you can go to https://remit.sbi/ and enter your reference number and beneficiary account number into the transaction tracker.

SBI remittance customer care

SBI offers multiple channels for customer support to assist with remittance-related and any other inquiries:

1. Phone:

Toll-free numbers (India):

• 1800 1234

• 1800 2100

• 1800 11 2211

• 1800 425 3800

Toll number:

• 080-26599990

For reporting unauthorized electronic transactions:

• 1800 11 1109 (Toll-Free)

• 94491 12211 (Mobile, Toll-Free)

• 080-2659 9990 (Toll)

2. Email:

General inquiries:

• [email protected]

• [email protected]

3. Via post:

Customer Service DepartmentState Bank of IndiaState Bank Bhavan, 16th FloorMadam Cama RoadMumbai 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

How much does SBI charge for international transfers?

SBI international transfer charges vary based on the currency being sent, and can include an exchange rate markup and third party fees.

How long does a SBI international money transfer take?

SBI international transfers are processed using the SWIFT network, and SBI SWIFT transfer times can vary between 3 to 5 days.

How to transfer money internationally with SBI?

Send an SBI international transfer online by logging into online banking or by visiting a branch.