Want to transfer money to Singapore from India? But don’t know how to go about it? If yes, then over here we discuss how banks can help you transfer money overseas in quick, easy & cost-effective ways.
Banks offer wire transfer services to transfer money to Singapore and other overseas countries. Telegraphic or Wire transfer is the easiest and safest way to transfer foreign currency abroad. In this process the foreign currency is transferred from one bank account to overseas bank account using a network such as Society for Worldwide Interbank Financial Telecommunication (SWIFT) which supplies secure messaging services. IndusInd Bank is a member of SWIFT and has a network of correspondent banking relationship with the world’s top banks which in turn ensures secure and quick transfer of funds.
To wire transfer money to Singapore from India you have to visit a bank. You need to provide information to the bank about the recipient's full name, address and bank account number. You will also need the recipient's bank SWIFT Number and the bank's name and full address.
IndusInd bank allows non-account holders to transfer money to Singapore provided he submits all the necessary documents.
You can quickly transfer funds overseas to any bank account through online banking. You not only enjoy competitive exchange rates but also know the exact amount that the recipient will receive in his/her account.
You are allowed to transfer a limited amount of sum as per the regulations of the Reserve Bank of India. In 2013, the RBI allowed a per year transfer of only USD 75,000. In 2014, the limit was increased to USD 1, 25,000 and since May 2015, the RBI is allowing a per year transaction of USD 2, 50,000. The RBI reserves the rights to tweak the limits depending on the foreign exchange rate scenario of the country.
Send a wire transfer to loved ones at best forex rates online!