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Remittance

Our Parent Bank (State Bank of India) is the largest bank in India and is also having one of the largest financial networks in Asia.

We make the process easier and faster for you. We are in a position to transfer your funds to any place in India real fast at one of the lowest costs in Canada.

We can send the funds to any of our branches of State Bank of India and to other banks in India as well. You may send your remittance in Indian rupees or in other currencies such as USD/CAD/ GBP/ EUR/JPY.


Procedure for sending your remittances

1). If you have an operative account with us:

  • By visiting the branch and making remittance request, or
  • By sending the remittance instructions through your internet banking account with us, or
  • By mail/fax instructions for remittance by debit to your account.

2). How to pay – In person (for account holders)

  • By cash up to CAD 4000 at our counters.
  • By debit Card (INTERAC) payment at our counters.
  • Details of the beneficiary, his bank/branch and account number.
  • By certified cheque/bank draft/personal cheque. Hold period on all payments will be applicable as per Bank’s Policy.
  • If the amount of the remittance is over C$ 4000, we will need the proof of purchase in case of Bank draft and a declaration of the source of funds.

3). How to pay –By mail.

In case you are sending instructions by mail, we will need in addition to the details of the beneficiary, his bank/branch and his account number:

  • Your personal cheque drawn on a financial entity in Canada (but not a bank draft) and;.
  • An attestation from Commissioner of Oaths in respect of identification document (photocopy required) containing your name, address and date of birth or a confirmation from another financial institution (not the same bank as the drawee of your cheque) that you maintain a deposit account with them giving your full name, address and date of birth.
  • If the amount of the remittance is over C$ 4000, please download and send us a declaration of source of funds (Please click here).
  • It is also possible for you to effect the remittance through your own bank with clear instructions to them to route the remittance through Bank of Montreal, Intl. Banking, HO for credit to SBI Canada Bank, Toronto Branch (Our Swift address: SBINCATX).
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