Your money transfers are in good hands with India's largest banking network. We endeavour to give you the best value for your sterling.

View indicative SBI sterling exchange rates

Why choose the State Bank of India?

  • Transfer money for free.If you hold an account with SBI in the UK, maintain a minimum balance and transfer Rupees to India from your account, we won’t charge you. See our money-transfer charges.
  • Benefit from India’s largest bank network. SBI has more than 20,000 branches that can confirm your funds transfer within one business day after we receive them. We can transfer to any other bank branches in India.
  • Get easy access to your cash. Access to your money couldn’t be easier from our network of over 40,000 cash machines in India.
  • Online money transfer immediately from SBI UK to SBI accounts in India within 2 hours* ( maximum 24 hours)

If you don’t bank with SBI

If you don’t bank with SBI , you can still transfer to other bank branches in India and you will need to provide an IFSC code which is an alphanumeric code that identifies your bank branch in India . And your funds will reach your account two to three business days after they reach us.

Transfer your money, your way

  • Use SBI Internet banking to send Rupees to India, 24/7
  • Send your money by a banker’s draft, drawn on any SBI branch
  • We can also transfer your sterling and US dollars

With effect from 01/04/2015, the draft and SBI Remittance Service for individual customers are as follows:

  • SBI Remittance Service: Free for eligible account holders, otherwise £5.00 charge apply ( cash handling charge may apply ) For non-account holders £5 ( cash handling charge may apply )
  • Demand Draft: £20.00

Cash handling charge: If you are remitting by cash, you have to pay a cash handling charge at £3.00 per £1000 or part thereof with a minimum of £3.00, if the transaction amount is greater than the original available balance. This will be in addition to the charges detailed above and below.

For existing SBI UK customers (those who hold either a current or savings account with SBI UK), we will only process remittance payments, which are funded from your account.

  • We will apply the remittance rate available only after the funds have cleared.
  • Customers can use non SBI UK debit card for the remittance. The funds will be transferred to the customer's SBI UK account and remittance will be done from the account.
  • For cash and UK debit card payments the remittance will be processed at the rate available at the time of the request.

For non SBI UK customers (those who do not hold either a current or savings account with SBI UK), we allow remittances funded by cash, cheque or UK debit card. In relation to the different payment methods:

  • CASH - If the value of your cash deposit exceeds £3000, we will require original proof of withdrawal, which will be retained. This could be the withdrawal statement.
  • CHEQUE - We can only process remittance requests funded by personal cheque payments from your own bank account in the UK. All cheques accepted before cut off time (varies according to the branch) will be accounted for on the same day and cheques accepted after cut off time will be accounted for the next day. It takes 6 working days (excluding holidays, Saturdays and Sundays) to clear the cheque. We will apply the remittance rate available after the funds have cleared. For example, if we receive the cheque on the Tuesday before 11a.m. we will process the remittance on the following Wednesday and apply the rates available at this time.
  • UK Debit Card - Customer can transfer maximum amount of £5000 in a day as a single transaction and will get the exchange rate which is available on the day of transaction. Remittance can be done ONLY by the Card holder and the name should match with the Identification proof.
  • We will apply the remittance rate available after the funds have cleared. For cash payments the remittance will be processed at the rate available at the time of the request.

If you are not an SBI customer, we will require the following identification documents for all the remittance transactions:

  • a valid passport or a UK driver's licence with photo identification.
  • a utility bill or bank statement less than 3 months old.

Incomplete remittance forms may be rejected and shall not be responsible for any losses incurred as a result.

If your remittance request has been accepted but not yet processed, any subsequent cancellation or amendment to the request will be processed as a separate transaction and charges will be applied accordingly. Please refer to the Tariff of Charges for further details.

If your account does not have sufficient funds at the time of processing the remittance, we will not process the transaction and you will have to submit a new remittance request.

If a new remittance request is subsequently submitted, we will use the exchange rate available at the time of processing the new request, NOT the exchange rate for the initial remittance request.

Remittances to SBI branches in India will normally take one business day after the receipt of cleared funds. For example, if the remittance is processed on Tuesday it should be received on Wednesday, if not earlier. For other banks in India, the remittance will normally take 2 to 3 business days after the funds have cleared to reach the nominated account. We will send the payment to the nominated account using the information provided.

Please refer to our tariff of charges for details of our charges.

We encourage our customers to confirm the receipt of the cleared funds with the beneficiary within a reasonable time frame. Any non-receipt of payment should be advised to us within 7 working days.

Before making any remittances to any charitable organisations, please ensure that they have permission to receive a donation from abroad.

We are not liable for any losses incurred resulting from the actions of a third party. Under no circumstances will the bank be liable for any consequential damages. We will not be liable for any losses resulting from the following reasons:

  • defective request or insufficient, incomplete or incorrect details in your instruction to us;
  • if we need to investigate any transaction to comply with anti-money laundering legislation;
  • to comply with our legal or regulation obligations;
  • order by a competent court;
  • order or stipulation by any other law enforcing body; and/or
  • business disruption on account of natural calamity, riot, war, terrorist activity, industrial action, equipment failure or any such event which is out of control.

Should your remittance request be unsuccessful as a result of incorrect information provided by you, we will not be liable for this error where the payment is not received. This could be an incorrect IFSC code, Branch code or any other incorrect information. The bank will not be liable for any consequential damages or loss under any circumstances.

If for any reason the funds are not paid to the nominated account and are returned to the bank we will refund these to the person making the remittance. The refund will be made in GBP and the exchange rate applied will be either:

  • the exchange rate on the date of the refund plus INR 0.50
  • or the exchange rate at the date of the remittance plus INR 0.50;

whichever is higher

In the event a payment is processed incorrectly, we will seek to recover the payment at the earliest opportunity. If this result in an account which you control receiving a payment made in error, you agree to notify the bank immediately and indemnify the bank in relation to this particular payment. In these circumstances you authorise the bank to recover any excess amount credited as part of this remittance request.

In order to carry out remittance we will collect personal information. This information will be stored and processed in accordance with the date protection act 1998. For the purpose of carrying out the remittance transaction, data will be transferred outside of EEA.

We reserve the right to perform additional verification checks prior to processing any remittance application. Failure in any of the verification requirements may result in either delay in processing the remittance application or a rejection.

The remittance will be subject to law related to monetary transactions in the United Kingdom, Intermediary and destination countries.

Applicable laws prohibit us from processing money transfers with certain individuals and countries. In order to comply, the bank is required to screen transfers against information provided by various governments and/or government agencies. If a potential match is found, we will suspend the transfer and request additional information.

This agreement shall be governed by the laws of England and Wales.

Please note our general terms and conditions, tariff of charges and cut off timings are applicable. These can be obtain from any of our branches or can be accessed through our website at

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