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Tariff of charges

Tariff of charges

A1. CURRENT ACCOUNTS, SAVINGS ACCOUNTS AND ACCOUNTS WITH OVERDRAFTS
1. Standing orders Free, or £10.00 if the standing order cannot be set up because of insufficient funds
2. Duplicate statement £3.00 per page, minimum £5.00
3. Cheques or direct debits returned as unpaid by us £12.00 per item
4. Cheques presented in cleaing and returned unpaid £10.00 per cheque
5. Stop payment of a cheque £10.00 per cheque (maximum charge £50.00)
6. Unauthorised overdraft If any of the account goes into overdrawing (without any sanctioned limit in place): 10% interest above the base rate for the number of days the account remains overdrawn
A2. DEBIT CARDS
7. Cash withdrawals from State Bank of India ATMs in India and UK ATMs with MasterCard logo Free
8. Foreign currency debit-card payments 2.5% of transaction fee
9. Cash withdrawals at ATMs outside UK £2.00 fee and 2.5% of transaction fee for ATM withdrawals abroad
B. NON-RESIDENT INDIAN SERVICES
1. Renewal requests, account-opening forms, payment requests Free
C. PAYMENTS TO INDIA
1. Payments in Indian Rupees by:  
  a) Demand draft £20.00
  b) SBI Remittance Service For account holders:
Remittance via Internet Banking- FREE
Eligible Account Holders- FREE
Otherwise (Refer footnote 5)- £5.00
(cash handling charge may apply);

For non-account holders:
Payment by debit card- £5.00
Payment by cash or other means- £25.00
(cash handling charge may apply)
2. Duplicate/ Stop payment/ Cancellation £10.00/€15.00/$20.00
3. Cash handling charges for deposit of cash at the time of each instance £3.00 per thousand or part thereof, minimum £3.00 (if the transaction amount is greater than the original available balance)
D. OTHER TRANSFER PAYMENTS
1. CHAPS Payments £25.00/ €40.00
2. International payments,
including currency transfers in the UK 		£25.00/ €40.00/ $50.00
3. Amendment to payment instructions £10.00/ €15.00/ $20.00
4. Issue of banker's cheque in foreign currency £25.00/ €40.00/ $50.00
5. Duplicate/stop/cancel payment £10.00/ €15.00/ $20.00
E. CREDIT FACILITIES
1. Arrangement fee for setting up of new limits/ enhancements against Bank’s own Fixed Deposits 0.5% of facilities with a minimum of £50.00/ €75.00/$100.00
2. Arrangement fee for Renewal of limits against Bank’s own F ixed Deposits 0.25% of facilities subject to  a minimum of £50.00/ / €75.00/$100.00
3. Arrangement fee for setting up a new credit limit or enhancement (all limits other than against bank’s own fixed deposits) Based on the Product terms. Please speak to SBI branch for further details
4. Fee for renewal of above credit facilities Based on the Product terms. Please speak to SBI branch for further details
5. If the arrangement is exceeded (the outstanding is in excess of the sanctioned limits) Interest of 10% above the Base Rate for the number of days the account remains irregular
6. Application fee for setting up of new limits/ enhancements (all limits other than against the bank's own fixed deposits) Applicable, will be provided by the bank at the time of application.
F. MISCELLANEOUS
1. Bankers reference (Status Enquiry) £25.00
2. Communication charges: Postage: £10.00
Courier: £25.00
Swift:£20.00
Fax: £5.00
3. Information/certificate to be submitted to the Auditors of the Constituents £40.00 for standard letter £10.00 for each additional requirement e.g. Trade, Credit, Safe custody etc
4. Customers requiring confirmations for receipts into accounts £10.00 per request


Notes

  1. If you have availed any facility/ service and entered into a contract, which categorically states a rate different from the services mentioned above, the rate mentioned in the said contract would apply.

  2. The scheduled charges apply to normal transactions. Any other out of pocket expenses such as stamp duties, telephone charges, correspondent’s commission, etc., if any, on actual basis will be payable additionally.

  3. Wherever £ is used, it means GBP, € is used it means Euro and $ is used it means US$.

  4. In case of business denominated in GBP, Euro and US$, the tariff would be recovered in respective currencies. In case of other currencies (or if the Euro/ US$ rates are not mentioned), the tariff would be computed taking GBP equivalent of the currency concerned.

  5. Account holders who maintain a minimum monthly balance required in accordance with the terms and conditions of the account, are eligible to transfer funds free of charge using SBI Express. The monthly minimum balance is calculated based on the previous month’s average balance, by totalling the daily balance in the previous month and then dividing this by the number of days in the previous month.

  6. For any other services not listed herein, the customer may ascertain the charges in advance from the Bank in writing.

  7. The Bank reserves the right to amend the tariff of Charges after due notice (in writing to customers at the last recorded address by ordinary post). A copy will be posted in the bank’s notice board.

  8. In case of any discrepancy in the bank charges or if it is not consistent with the contract with you, please bring it to the notice of the bank immediately.



Other Important Information

  1. In keeping with Money Laundering Directives, the Bank does not encourage cash transactions. At its discretion, the Bank may refuse to pay cash if the customer is not able to provide satisfactory proof of identification and address and may refuse to accept cash without proof of its source.

  2. Account holders are reminded of their right that they may give instructions at any time that they do not wish to receive marketing material.

  3. Please note that if the Bank incurs costs or expenses pertaining to the customer, the customer will pay those costs and expenses.

  4. All services listed herein may not be available at all of our branches in the UK. For queries please call your nearest branch.

  5. All information, rates and prices in this leaflet form part of your terms and conditions that apply to your account.

  6. If you would like to receive charges information for any other service, not mentioned in this document, please contact your SBI branch for further details.

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A. CURRENT/ SAVINGS/ OVERDRAFT ACCOUNTS
1. Annual Maintenance Fee £80.00/ €120.00/ $160.00 per annum. (charged on account anniversary)
2. Transaction Charges 60p for each credit and debit on all Current and Overdraft Accounts levied on a quarterly basis.
3. Special Presentation of a Cheque
(quick confirmation of payment) 		£20.00 per presentation.
4. Standing Orders A flat fee of £10.00 for local BACS transfers. Standing orders for transfers to India: Remittance charges only. A charge of £10.00 if the Standing order cannot be effected.
5. Duplicate Statement of Account £3.00 per page,
minimum £5.00.
6. Cheques/ Direct Debits returned unpaid by us £12.00 per item.
7. Cheques presented in clearing returned unpaid £10.00 per cheque.
8. Stop payment of a cheque £10.00 per cheque.
Maximum: £50.00
9. Issue of Banker's Cheque £10.00 per cheque.
10. Unauthorised overdraft If any of the account goes into overdrawing (without any sanctioned limit in place): 10% above the Base Rate for the number of days the account remains overdrawn
B. REMITTANCES
1. Inland/ Foreign Remittances by Demand Draft/ Swift  
(i) Demand Draft: 2 per 1000/- pro-rata Min. £12.00/ €18.00/ $25.00, max. £150.00/ €200.00/ $300.00.
(ii) Swift: £12.00/ €18.00/ $25.00 per payment to India
£25.00/ €40.00/ $50.00 per payment outside India
(ii) CHAPS: £25.00/ €40.00 per payment
2. Stop/ Cancellation or Amendment of Payment:  
(i) Draft: £12.00/ €18.00/ $25.00 per demand draft.
(ii) Swift: £15.00/ €23.00/ $30.00 per Payment
3. Faster Payment (formerly BACS): £1.00 per item; minimum £25.00
4. Cash Transactions: As in Item G4 below
C. DOCUMENTARY LETTERS OF CREDIT
(a) Letters of Credit Opened by us  
1. Opening of Letter of Credit 0.1% per month or part thereof, minimum £50.00/ €75.00/ $100.00.
2. Usance/ Acceptance/ Deferred Payment 0.1% per month or part thereof, minimum £40.00/€60.00/ $80.00 in addition to above.
3. Forwarding £40.00/ €60.00/ $80.00.
4. Amendments £50.00/ €75.00/ $100.00 per amendment where no alteration in the time or value. Amendments in time or value will be charged as per rate for opening a Letter of Credit.
5. Pre-advising £40.00/ €60.00/ $80.00.
6. Payments under our Letters of Credit 0.2%, minimum £50.00/ €75.00/ $100.00.
(b) Letters of Credit Advised by us  
1. Advising a Letter of Credit £50.00/ €75.00/ $100.00.
2. Pre-advising a credit £40.00/ €60.00/ $80.00.
3. Advising an Amendment £40.00/ €60.00/ $80.00 per amendment.
4. Confirming a Credit (a) 0.30% per quarter or part thereof and
(b) Usance: 0.10% per month or part thereof
5. Payments under Letter of Credit 0.2%, minimum £50.00/ €75.00/ $100.00.
6. Payments under Clean/ Reimbursement Credit 0.05%, minimum £50.00/ €75.00/ $100.00.
Maximum: £2500.00/ €3750.00/ $5000.00
7. Transfer of Letter of Credit 0.4% of the amounts transferred, minimum £100.00/ €150.00/ $200.00.
8. Assignment of Letter of Credit 0.3% of the amounts assigned, minimum £100.00/ €150.00/ $200.00.
9. Acceptances/ Usance/ Deferred Payment Commission 0.1% per month, minimum £60.00/ €80.00/ $120.00.
D. COLLECTIONS
(a) Inward Bills
Bills received for collection on drawees in UK for payment/ acceptance		  
1. Documentary/ Clean Bills 0.2%, minimum £50.00/ €75.00/ $100.00, maximum £150.00/ €225.00/ $300.00 plus postage.
2. Unaccepted/ Unpaid Bills £25.00/ €40.00/ $50.00 per month.
3. Issue of Delivery Order £40.00/ €60.00/ $80.00.
(b) Outward Bills  
1. Outward Bills for Collection 0.2%, minimum £50.00/ €75.00/ $100.00, maximum £150.00/ €225.00/ $300.00 plus postage.
2. Foreign Currency instruments presented by us returned unpaid: £25.00/ €40.00/ $50.00 per instrument
E. GUARANTEES/ SURETIES
Issue of Inland/ Foreign Financial Guarantee/ Surety 0.5% per quarter or part thereof, minimum £60.00/ €80.00/ $120.00.
F. CREDIT FACILITIES
1. Arrangement fee for setting up of new limits/ enhancements against Bank's own Fixed Deposits 0.5% of facilities with minimum of £50.00/ €75.00/ $100.00
2. Arrangement fee for Renewal of limits against Bank's own Fixed Deposits 0.25% of facilities subject to a minimum of £50.00/ €75.00/ $100.00
3. Arrangement fee for setting up of new limits.enhancements Based on the Product terms. Please speak to SBI branch for further details
4. Fee for renewal of above credit facilities Based on the Product terms. Please speak to SBI branch for further details
5. If the arrangement is exceeded (the outstanding is in excess of the sanctioned limits) Interest of 10% above the Bank Rate for the number of days the account has run irregular.
6. Application fee for setting up of new limits/ enhancements (all limits other than against the bank's own fixed deposits) Applicable, will be provided by the bank at the time of application.
G. MISCELLANEOUS
1. Bankers reference (Status Enquiry) £25.00
2. Communication charges: Postage £10.00
Courier £25.00
Swift £20.00/ $40.00
Fax £5.00
3. Information/ certificate to be submitted to the Auditors of the constituents £40.00 for standard letter
£10.00 for each additional requirement e.g. Trade, Credit, Safe custody, etc.
4. Cash handling charges for deposit of cash £3.00 per thousand or part thereof, minimum £3.00 at the time of each instance.
5. Customers requiring confirmations for receipts into accounts £10.00 per request.
6. Issue of chaser for Bills/ Payments First two chasers free, then £15.00/ €20.00/ $30.00 each instance thereafter.

Notes

  1. If you have availed any facility/ service and entered into a contract, which categorically states a rate different from the services mentioned above, the rate mentioned in the said contract would apply.
  2. The scheduled charges apply to normal transactions. Any other out of pocket expenses such as stamp duties, telephone charges, correspondent's commission, etc., if any, on actual basis will be payable additionally.
  3. Wherever $ is used, it means US$.
  4. In case of business denominated in Sterling, Euro and US Dollar, the tariff would be recovered in respective currencies. In case of other currencies (or if the Euro/ US$ rates are not mentioned), the tariff would be computed taking Sterling equivalent of the currency concerned.
  5. For any other services not listed herein, the customer may ascertain the charges in advance from the Bank in writing.
  6. The Bank reserves the right to amend the Schedule of Charges after due notice (in writing to customers at the last recorded address by ordinary post). A copy will be posted in the bank's notice board.
  7. In case of any discrepancy in the bank charges or if it is not consistent with the contract with you, please bring it to the notice of the bank immediately.

Other Important Information

  1. Statements of Accounts are issued to all customers at least once each year, or at shorter intervals if requested by the account holders.
  2. Please note that Duplicate Statement will not be issued free of charge if Original Statement has not been received due to postal delays in the country of the Customer.
  3. In keeping with Money Laundering Directives, the Bank does not encourage cash transactions. At its discretion, the Bank may refuse to pay cash if the customer is not able to provide satisfactory proof of identification and address and may refuse to accept cash without proof of its source.
  4. Account holders are reminded of their right that they may give instructions at any time that they do not wish to receive marketing material.
  5. All services listed herein may not be available at all of our branches in the UK. For queries please call your nearest branch.

20,000 STATE BANK GROUP BRANCHES IN 34 COUNTRIES
170 MILLION CUSTOMERS | IN THE UK SINCE 1921


Authorised and regulated by Reserve Bank of India and Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority (FCA) and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority and Financial Conduct Authority are available from us on request. State Bank of India is a member of the Financial Services Compensation Scheme established under the Financial Services and Market Act 2000. The Financial Services Compensation Scheme protects deposits held with our UK branches. Payments under this scheme are limited to £85,000 of your total deposits with us in the UK. In practice, this means that each eligible depositor will be compensated up to a maximum of £85,000 of their total deposits. For more information or clarification, visit our website www.sbiuk.com, call us on 0800 532 532 or email to customerservices.sbiuk@statebank.com or visit your local branch.

Call centre opening hours are:
Monday, Tuesday, Wednesday, and Friday - 9am to 6pm
Thursday - 9am to 5pm effective from 02 March 2017
Saturday - 9am to 3pm
Sunday - Closed


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