More to Know about Remittances Plan

1.When conversion of currency is involved, the remittance shall be made as per the prevailing rate on the date of transaction.

2.Conversion can be made at the paying center at the rate on the date of payment.

3.If specific instructions are not given in the application for currency in which remittance is to be sent, remittances on Indian Branches shall be made in Indian Rupees only.

4.If the Branch where remittance is to be sent does not deal with foreign currency drafts – remittance shall be made in Indian Rupees only – without any further reference to you.

5.Additional information is required under Bank’s Secrecy Act Regulations irrespective of the amount.

6.Certain restrictions apply for funds transfer. Please see ‘Terms and conditions’.

7.For details/questions, you may contact

Mr. Rajnish Bhardwaj at 212-753-6100 Ext. 407.

8.Enquiry about effected payments.

Mail Transfers/Wire Transfers – Ms Ritu Kumar – Ext. 421.

9.Give adequate time for completion of transaction before you wish to make telephonic enquiry about non-payment/delayed payment/loss of draft etc.

Normal time should be as under:

a)Mail Transfer – about 15 days

b)Wire Transfer – 3 days (Additional 5/7 days if beneficiary account is at other than the branch where remittance is sent)

Always keep reference number, date – handy before you make telephonic enquiry.

(1)Bank of India, New York Branch is a member of FDIC
(2)Please e-mail your comments and suggestions to boiny@usa.net