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Our forex desk is linked to various specialised desks of the Bank across various time zones, and currency markets and can offer a variety of products including derivatives. Being the largest Bank in India, we provide best rates and remittance facilities to India. Forex & Financial Engineering & New Products (FE&NP) The Forex department is divided into the following sections: Merchant: The dealers at this desk deal with bank's customers directly or through the forex designated branches of the bank and complete transactions involving foreign exchange in all major currencies of the world. USD/INR Spot: The .
Pay a quick visit to your nearest SBI branch or log on to the official State Bank of India website and find solutions for all your forex needs right away! The importance of Forex As mentioned above, you cannot travel to a foreign country unless you have the money you need for your day to day expenses while overseas.
When you opt for SBI forex, you get: This is one of the most popular, simple and convenient forms of forex services that SBI provides. You can simply walk into any SBI branch, deposit a certain amount of Indian currency and get the equivalent forex amount in the currency of your choice. You can also exchange your Indian rupees for any other foreign currency.
The State Bank of India will exchange the money for you based on the prevalent exchange rates. If you want to travel with a lighter wallet when you reach the foreign shores, you can opt for the SBI Travel Card. An SBI travel card is a lot like a regular Visa debit card. You can use it at most merchant stores, restaurants, hotels, etc to make payments for your purchases, meals or stays.
The card can also be used to withdraw the local currency notes from the ATM machines. The amount available on your travel card is a pre-paid amount that you load on to the card before you start your trip.
This can be done by visiting an SBI branch or can also be done with ease through the online route. It is a very simple process that makes managing your travel finances a lot easier. So if you live abroad or have a family member living abroad, you can send or receive money overseas through the SBI forex system.
Remitting money via SBI is a safe and economic option. You get the money transferred immediately and you also get to do so at the best possible rates. So you get to be in a win-win situation when you use the remittance service from SBI Forex. The brand value of SBI: So why would someone choose SBI Forex services when there are so many other forex services in the country?
Well, the answer actually is very simple. The State Bank of India has been a trusted household name in financial matters from many years before we were born! This makes the brand value of SBI one of the best and also makes it the most reliable name in the Indian banking sector. All the services offered by SBI are good, but their forex services especially stand out. This is because SBI believes in putting the needs of the customers ahead of itself.
By doing this, SBI always tries to offer the best possible rates on the forex services. So when you buy or sell your foreign currency from SBI, you always stand to make a profit. With the free home delivery of forex, you can save precious time before you fly. Pay for your forex using the payment option of your choice. Block exchange rates for 24 hours: Ease for frequent travellers: Simply upload your documents once and save time on future forex transactions. Please enter your mobile no.
Continue as Guest No need of password with this option. Your account is registered but not verified. Also can be used for E Commerce transactions.
ATM withdrawals are not allowed. No multiple requests will be entertained.
Continue as Guest No need of password with this option. By doing this, SBI always tries to offer the best possible rates on the forex services.
Well, the answer actually is very simple.