Hello,
We wire transferred money from Bank of America to our in-laws' SBI account in India last Tuesday. BoA says the transfer was complete on the next day. But in India, SBI says it hasn't arrived, even in their forex branch.
Can anyone tell us approximately how many days does it take for such a transfer to arrive in India? It was for 6000$.
Thank you for ur replies.
wire transfer to India
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Old-Spice2
- Posts: 1898
- Joined: Wed Jan 17, 2007 11:38 pm
wire transfer to India
thb;367439Hello,
We wire transferred money from Bank of America to our in-laws' SBI account in India last Tuesday. BoA says the transfer was complete on the next day. But in India, SBI says it hasn't arrived, even in their forex branch.
Can anyone tell us approximately how many days does it take for such a transfer to arrive in India? It was for 6000$.
Thank you for ur replies.
I did wire transfer few months back to HDFC Bank. It took 2 days for the money to appear in my Indian account.
wire transfer to India
Old-Spice2;367450I did wire transfer few months back to HDFC Bank. It took 2 days for the money to appear in my Indian account.
Same here. It took two days to appear in my Axis bank in India. I also did it few days back. Though, sometimes it has taken me 5 days too.
wire transfer to India
Thanks for the replies. We just heard back from BoA saying they need additional info.
wire transfer to India
Hello,
BoA got back about the wire transfer (pls see my earlier msg for details) saying they need the ifsc code. We gave the number our inlaws gave. But they say it is a combination of a/c number and this code.
What exactly is the number to give? Has anyone given ifsc code for wire transfer?
BoA got back about the wire transfer (pls see my earlier msg for details) saying they need the ifsc code. We gave the number our inlaws gave. But they say it is a combination of a/c number and this code.
What exactly is the number to give? Has anyone given ifsc code for wire transfer?
wire transfer to India
Hi - From my experience.....
I once had a similar problem and it took a while to get it sorted out, in my case, the forwarding instructions were 'lost' by the local US branch when forwarding to SBI account in Bank of America. So the money was sitting in NY or Bombay (I forget which) and needed to be 'tracked' down.
Generally the numbers I give for wire transfer are ABA# (9 digits - same as Fedwire number) and Nostro a/c no - using option 2 (see below)
All said, from what I know (pl. correct me if wrong), there are two ways to transfer money (1) you do an international wire directly to the indian account (2) you do a US domestic wire to an account of SBI in NY (or where ever) and they then transfer the money to the indian account.
(2) is cheaper but like I mentioned above, if the 'further credit to' instructions are lost, the money is going to be sitting somewhere in a misc account and remain 'unclaimed'.
Not sure what method of transfer you used.
If it is (2), you can check with BoA if 'additional instructions' were indeed passed on - sometimes these are phoned in...
If it is (1), you can call the bank and get their IFSC code (http://bankifsccode.com/ - never used this site, just came in Google). This seems to be a bank/branch identifying code. - I would give this to BoA and see if they can then credit the money.
I once had a similar problem and it took a while to get it sorted out, in my case, the forwarding instructions were 'lost' by the local US branch when forwarding to SBI account in Bank of America. So the money was sitting in NY or Bombay (I forget which) and needed to be 'tracked' down.
Generally the numbers I give for wire transfer are ABA# (9 digits - same as Fedwire number) and Nostro a/c no - using option 2 (see below)
All said, from what I know (pl. correct me if wrong), there are two ways to transfer money (1) you do an international wire directly to the indian account (2) you do a US domestic wire to an account of SBI in NY (or where ever) and they then transfer the money to the indian account.
(2) is cheaper but like I mentioned above, if the 'further credit to' instructions are lost, the money is going to be sitting somewhere in a misc account and remain 'unclaimed'.
Not sure what method of transfer you used.
If it is (2), you can check with BoA if 'additional instructions' were indeed passed on - sometimes these are phoned in...
If it is (1), you can call the bank and get their IFSC code (http://bankifsccode.com/ - never used this site, just came in Google). This seems to be a bank/branch identifying code. - I would give this to BoA and see if they can then credit the money.
wire transfer to India
Thanks, vanuma, for that detailed reply :) We used option 1 (and we r regretting it!). If we cancel we lose about 200$. And they are not happy with the IFSC code we gave, they want something that is a combination of the a/c number and the 11-digit Ifsc that we got from SBI.
I think it's probably the same problem as you had with losing forwarding instructions. I just hope they don't screw this up even more.
Thanks again for taking time to reply.
If anyone else had to give an IFSC code longer than 11-digits (!) for intnl wire transfer, pls let me know.
I think it's probably the same problem as you had with losing forwarding instructions. I just hope they don't screw this up even more.
Thanks again for taking time to reply.
If anyone else had to give an IFSC code longer than 11-digits (!) for intnl wire transfer, pls let me know.
wire transfer to India
thb;367439Hello,
We wire transferred money from Bank of America to our in-laws' SBI account in India last Tuesday. BoA says the transfer was complete on the next day. But in India, SBI says it hasn't arrived, even in their forex branch.
Can anyone tell us approximately how many days does it take for such a transfer to arrive in India? It was for 6000$.
Thank you for ur replies.
You may want to use SBI, New York next time you send money to India. Safest , fastest and you'll get better exchange rate + peace of mind
http://statebank.com/
wire transfer to India
thb,
you probably have a couple of options - hand BoA the contact information of SBI in NY and in India and let them sort it out. Or tell BoA that you would like to cancel the wire because it has not gone through after so many days - after all they did ok all the information on it when you submitted the wire and see if they are willing to forgo charging you the 200$ !!
You might want to talk to a supervisor / manager about that though !
Best of luck.
you probably have a couple of options - hand BoA the contact information of SBI in NY and in India and let them sort it out. Or tell BoA that you would like to cancel the wire because it has not gone through after so many days - after all they did ok all the information on it when you submitted the wire and see if they are willing to forgo charging you the 200$ !!
You might want to talk to a supervisor / manager about that though !
Best of luck.
wire transfer to India
Hi,
From the post I assume you did an international wire transfer from BOFA to SBI India gave then the IFSC code given by SBI. It is a code that locates a particular branch of a bank.
Options as mentioned by other members.
1. Cancel the transactions and use other providers to transfer.
2. Ask BOFA to transfer to SBI NY...SBI NY can transfer to SBI India.
It is a hard situation to be in, there is no easy way out.
From the post I assume you did an international wire transfer from BOFA to SBI India gave then the IFSC code given by SBI. It is a code that locates a particular branch of a bank.
Options as mentioned by other members.
1. Cancel the transactions and use other providers to transfer.
2. Ask BOFA to transfer to SBI NY...SBI NY can transfer to SBI India.
It is a hard situation to be in, there is no easy way out.