{"id":6252,"date":"2024-08-26T15:57:39","date_gmt":"2024-08-26T15:57:39","guid":{"rendered":"https:\/\/www.extravelmoney.com\/blog\/?p=6252"},"modified":"2024-08-26T15:57:41","modified_gmt":"2024-08-26T15:57:41","slug":"how-to-transfer-money-abroad-from-sbi-online-process-charges","status":"publish","type":"post","link":"https:\/\/www.extravelmoney.com\/blog\/how-to-transfer-money-abroad-from-sbi-online-process-charges\/","title":{"rendered":"How to Transfer Money Abroad From SBI Online: Process &#038; Charges"},"content":{"rendered":"\n<div class=\"wp-block-uagb-image uagb-block-fe508ffa wp-block-uagb-image--layout-default wp-block-uagb-image--effect-static wp-block-uagb-image--align-none\"><figure class=\"wp-block-uagb-image__figure\"><img decoding=\"async\" srcset=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/SBI-International-Money-Transfer-Process-Blog-1024x534.jpg ,https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/SBI-International-Money-Transfer-Process-Blog.jpg 780w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/SBI-International-Money-Transfer-Process-Blog.jpg 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/SBI-International-Money-Transfer-Process-Blog-1024x534.jpg\" alt=\"\" class=\"uag-image-6329\" width=\"1444\" height=\"753\" title=\"SBI International Money Transfer Process Blog\" loading=\"lazy\" role=\"img\"\/><\/figure><\/div>\n\n\n\t\t\t\t<div class=\"wp-block-uagb-table-of-contents uagb-toc__align-left uagb-toc__columns-1  uagb-block-7b0c0307  uag-hide-desktop    \"\n\t\t\t\t\tdata-scroll= \"1\"\n\t\t\t\t\tdata-offset= \"30\"\n\t\t\t\t\tstyle=\"\"\n\t\t\t\t>\n\t\t\t\t<div class=\"uagb-toc__wrap\">\n\t\t\t\t\t\t<div class=\"uagb-toc__title\">\n\t\t\t\t\t\t\tTable Of Contents\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"uagb-toc__list-wrap \">\n\t\t\t\t\t\t<ol class=\"uagb-toc__list\"><li class=\"uagb-toc__list\"><a href=\"#sbi-online-international-money-transfer-process\" class=\"uagb-toc-link__trigger\">SBI Online International Money Transfer Process<\/a><ul class=\"uagb-toc__list\"><li class=\"uagb-toc__list\"><a href=\"#1-add-details-of-beneficiary-abroad\" class=\"uagb-toc-link__trigger\">1. Add Details of Beneficiary Abroad<\/a><li class=\"uagb-toc__list\"><li class=\"uagb-toc__list\"><a href=\"#2-initiate-international-money-transfer\" class=\"uagb-toc-link__trigger\">2. Initiate International Money Transfer<\/a><ul class=\"uagb-toc__list\"><li class=\"uagb-toc__list\"><a href=\"#required-beneficiary-details-for-money-transfer-abroad\" class=\"uagb-toc-link__trigger\">Required Beneficiary Details For Money Transfer Abroad<\/a><\/li><\/ul><\/li><\/ul><\/li><li class=\"uagb-toc__list\"><a href=\"#sbi-international-money-transfer-charges\" class=\"uagb-toc-link__trigger\">SBI International Money Transfer Charges<\/a><li class=\"uagb-toc__list\"><a href=\"#pros-cons-of-doing-an-international-transfer-from-sbi-online\" class=\"uagb-toc-link__trigger\">Pros &amp; Cons of Doing an International Transfer From SBI Online<\/a><ul class=\"uagb-toc__list\"><li class=\"uagb-toc__list\"><a href=\"#pros\" class=\"uagb-toc-link__trigger\">Pros<\/a><li class=\"uagb-toc__list\"><li class=\"uagb-toc__list\"><a href=\"#cons\" class=\"uagb-toc-link__trigger\">Cons<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li class=\"uagb-toc__list\"><a href=\"#why-you-should-choose-extravelmoney-for-sending-money-abroad\" class=\"uagb-toc-link__trigger\">Why You Should Choose ExTravelMoney For Sending Money Abroad<\/a><li class=\"uagb-toc__list\"><a href=\"#frequently-asked-questions\" class=\"uagb-toc-link__trigger\">Frequently Asked Questions<\/a><\/ul><\/ul><\/ul><\/ol>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\n\n\n<p>Are you an SBI account holder who is looking to do international remittance from India?&nbsp;<\/p>\n\n\n\n<p>In this article, we\u2019ll show you how to transfer money abroad from SBI online.&nbsp;<\/p>\n\n\n\n<p>You\u2019ll get to know all the required details such as the process, charges, pros\/cons of conducting an international transaction via SBI online, and time taken for the transfer etc.&nbsp;<\/p>\n\n\n\n<p>We\u2019ll also suggest an alternative option for you to send money abroad, which is cheaper, more convenient, and faster!<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">SBI Online International Money Transfer Process<\/h1>\n\n\n\n<h2 class=\"wp-block-heading\">1. <strong>Add Details of Beneficiary Abroad<\/strong><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Login to your SBI Online account &#8211; <a href=\"https:\/\/retail.onlinesbi.sbi\/retail\/login.htm\" target=\"_blank\" rel=\"noreferrer noopener\">SBI Personal Banking Login<\/a><\/li>\n\n\n\n<li>Under the tab \u201cPayments \/ Transfers\u201d, choose \u201cAdd &amp; Manage Beneficiary\u201d<\/li>\n\n\n\n<li>Click on \u201cForeign Outward Remittance Beneficiary\u201d<\/li>\n\n\n\n<li>Add Beneficiary Details<\/li>\n<\/ol>\n\n\n\n<div class=\"wp-block-jetpack-slideshow aligncenter\" data-effect=\"slide\"><div class=\"wp-block-jetpack-slideshow_container swiper-container\"><ul class=\"wp-block-jetpack-slideshow_swiper-wrapper swiper-wrapper\"><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"585\" height=\"578\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-6281\" data-id=\"6281\" src=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/1.-SBI-Online-Login.jpg\" srcset=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/1.-SBI-Online-Login.jpg 585w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/1.-SBI-Online-Login-300x296.jpg 300w\" sizes=\"auto, (max-width: 585px) 100vw, 585px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">1. Login to your SBI Online account<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"486\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-6282\" data-id=\"6282\" src=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/2.-Add-and-Manage-Beneficiary-1024x486.png\" srcset=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/2.-Add-and-Manage-Beneficiary-1024x486.png 1024w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/2.-Add-and-Manage-Beneficiary-300x142.png 300w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/2.-Add-and-Manage-Beneficiary-768x365.png 768w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/2.-Add-and-Manage-Beneficiary.png 1188w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">2. Under the tab \u201cPayments \/ Transfers\u201d, choose \u201cAdd &amp; Manage Beneficiary\u201d<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"521\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-6283\" data-id=\"6283\" src=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/3.-Foreign-Outward-Remittance-Beneficiary-1024x521.png\" srcset=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/3.-Foreign-Outward-Remittance-Beneficiary-1024x521.png 1024w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/3.-Foreign-Outward-Remittance-Beneficiary-300x153.png 300w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/3.-Foreign-Outward-Remittance-Beneficiary-768x391.png 768w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/3.-Foreign-Outward-Remittance-Beneficiary.png 1186w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">3. Click on \u201cForeign Outward Remittance Beneficiary\u201d<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"924\" height=\"1007\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-6285\" data-id=\"6285\" src=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/4.-Enter-The-Beneficiary-Details-940x1024.png\" srcset=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/4.-Enter-The-Beneficiary-Details.png 924w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/4.-Enter-The-Beneficiary-Details-275x300.png 275w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/4.-Enter-The-Beneficiary-Details-768x836.png 768w\" sizes=\"auto, (max-width: 924px) 100vw, 924px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">4. Add Beneficiary Details<\/figcaption><\/figure><\/li><\/ul><a class=\"wp-block-jetpack-slideshow_button-prev swiper-button-prev swiper-button-white\" role=\"button\"><\/a><a class=\"wp-block-jetpack-slideshow_button-next swiper-button-next swiper-button-white\" role=\"button\"><\/a><a aria-label=\"Pause Slideshow\" class=\"wp-block-jetpack-slideshow_button-pause\" role=\"button\"><\/a><div class=\"wp-block-jetpack-slideshow_pagination swiper-pagination swiper-pagination-white\"><\/div><\/div><\/div>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">2. <strong>Initiate International Money Transfer<\/strong><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Choose the option &#8220;More&#8221; under the &#8220;Payments\/Transfers&#8221; tab<\/li>\n\n\n\n<li>Select &#8220;International Funds Transfer&#8221;<\/li>\n\n\n\n<li>Click on &#8220;Foreign Currency Transfer\/Remittance&#8221;<\/li>\n\n\n\n<li>Select the Beneficiary, confirm the exchange rate, currency and amount to be transferred<\/li>\n\n\n\n<li>Select Intermediary\/Beneficiary bank charge type, source of funds and destination country.<\/li>\n<\/ol>\n\n\n\n<div class=\"wp-block-jetpack-slideshow aligncenter\" data-effect=\"slide\"><div class=\"wp-block-jetpack-slideshow_container swiper-container\"><ul class=\"wp-block-jetpack-slideshow_swiper-wrapper swiper-wrapper\"><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"584\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-6294\" data-id=\"6294\" src=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/1.-Choose-More-Under-Payments-Transfers-1024x584.png\" srcset=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/1.-Choose-More-Under-Payments-Transfers-1024x584.png 1024w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/1.-Choose-More-Under-Payments-Transfers-300x171.png 300w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/1.-Choose-More-Under-Payments-Transfers-768x438.png 768w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/1.-Choose-More-Under-Payments-Transfers.png 1171w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">1. Choose the option &#8220;More&#8221; under the &#8220;Payments\/Transfers&#8221; tab<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"628\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-6293\" data-id=\"6293\" src=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/2.-Choose-International-Funds-Transfer-1024x628.png\" srcset=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/2.-Choose-International-Funds-Transfer-1024x628.png 1024w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/2.-Choose-International-Funds-Transfer-300x184.png 300w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/2.-Choose-International-Funds-Transfer-768x471.png 768w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/2.-Choose-International-Funds-Transfer.png 1172w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">2. Select &#8220;International Funds Transfer&#8221;<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"417\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-6292\" data-id=\"6292\" src=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/3.-Select-Foreign-Currency-Transfer-Remittance-1024x417.png\" srcset=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/3.-Select-Foreign-Currency-Transfer-Remittance-1024x417.png 1024w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/3.-Select-Foreign-Currency-Transfer-Remittance-300x122.png 300w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/3.-Select-Foreign-Currency-Transfer-Remittance-768x313.png 768w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/3.-Select-Foreign-Currency-Transfer-Remittance.png 1173w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">3. Click on &#8220;Foreign Currency Transfer\/Remittance&#8221;<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"357\" height=\"400\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-6291\" data-id=\"6291\" src=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/4.-Select-Beneficiary-Confirm-Currency-Amount.png\" srcset=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/4.-Select-Beneficiary-Confirm-Currency-Amount.png 357w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/4.-Select-Beneficiary-Confirm-Currency-Amount-268x300.png 268w\" sizes=\"auto, (max-width: 357px) 100vw, 357px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">4. Select the Beneficiary, confirm the exchange rate, currency and amount to be transferred<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"357\" height=\"524\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-6290\" data-id=\"6290\" src=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/5.-Select-Beneficiary-Charge-type-Source-of-Funds-and-Country.png\" srcset=\"https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/5.-Select-Beneficiary-Charge-type-Source-of-Funds-and-Country.png 357w, https:\/\/www.extravelmoney.com\/blog\/wp-content\/uploads\/2024\/08\/5.-Select-Beneficiary-Charge-type-Source-of-Funds-and-Country-204x300.png 204w\" sizes=\"auto, (max-width: 357px) 100vw, 357px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">5. Select Intermediary\/Beneficiary bank charge type, source of funds and destination country<\/figcaption><\/figure><\/li><\/ul><a class=\"wp-block-jetpack-slideshow_button-prev swiper-button-prev swiper-button-white\" role=\"button\"><\/a><a class=\"wp-block-jetpack-slideshow_button-next swiper-button-next swiper-button-white\" role=\"button\"><\/a><a aria-label=\"Pause Slideshow\" class=\"wp-block-jetpack-slideshow_button-pause\" role=\"button\"><\/a><div class=\"wp-block-jetpack-slideshow_pagination swiper-pagination swiper-pagination-white\"><\/div><\/div><\/div>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Note:<\/strong> Before starting this process you need to know the following Beneficiary Details<\/p>\n\n\n\n<div class=\"wp-block-uagb-inline-notice uagb-inline_notice__align-left uagb-block-5428339a\"><button class=\"uagb-notice-close-button\" type=\"button\" aria-label=\"Close\"><\/button><h4 class=\"uagb-notice-title\">Required Beneficiary Details For Money Transfer Abroad<\/h4><div class=\"uagb-notice-text\">\n<p>1. Beneficiary Bank Account Number \/ IBAN Number<br>2. Beneficiary Bank, Branch &amp; Address<br>3. Beneficiary Bank BIC Code \/ Routing Number \/ Sort Code<br>4. Beneficiary Name (should match both their foreign bank account and passport)<br>5. Beneficiary Address (as given in their bank abroad)<br>6. Beneficiary Date of Birth (from their passport)<br>7. Beneficiary Place of Birth (from their passport)<br>8. Beneficiary Phone Number<\/p>\n<\/div><\/div>\n\n\n\n<p><strong>Also Read:<\/strong> <a href=\"https:\/\/www.extravelmoney.com\/blog\/what-iban-number-transfer-money-abroad\/\" target=\"_blank\" rel=\"noreferrer noopener\">What Is IBAN Number and Why You Need It To Transfer Money Abroad?<\/a><\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><strong>SBI International Money Transfer Charges<\/strong><\/h1>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>No.<\/strong><\/td><td><strong>Charges<\/strong><\/td><td><strong>Amount<\/strong><\/td><\/tr><tr><td>1<\/td><td>Exchange Rate<\/td><td>1-3% Markup over interbank rate (Google rate)<br><br>Ex: 80 paise to 2.5 Rs extra per USD transferred<\/td><\/tr><tr><td>2<\/td><td>Intermediary \/ Beneficiary Bank Charge<br><br><a href=\"https:\/\/www.extravelmoney.com\/blog\/intermediary-bank-charge-fully-explained\/\" target=\"_blank\" rel=\"noreferrer noopener\">Intermediary Bank Charge Fully Explained<\/a><\/td><td>USD 15-30 Equivalent<br><br>INR 1000-2500<\/td><\/tr><tr><td>3<\/td><td>Service Fee<\/td><td>INR 299 &#8211; 550<\/td><\/tr><tr><td>4<\/td><td>GST<\/td><td><a href=\"https:\/\/www.extravelmoney.com\/blog\/gst-on-foreign-exchange-transactions-in-india\/\" target=\"_blank\" rel=\"noreferrer noopener\">GST Rates on Forex Transactions in India<\/a><br><br>1. Transfer Amount &lt; INR 1 Lakh: GST INR 45 &#8211; 180<br>2. Transfer Amount between INR 1 &#8211; 10 Lakh: GST INR 180 &#8211; 990<br>3. Transfer Amount &gt; INR 10 Lakh: GST INR 990 &#8211; 60,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Ex:<\/strong> On a transfer of <strong>USD 10,000 (~INR 8,45,000)<\/strong> for study abroad in the USA, these will be the extra charges;<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Exchange Rate: INR 8000-25000<\/li>\n\n\n\n<li>Intermediary \/ Beneficiary Bank Charge: INR 1000-2500<\/li>\n\n\n\n<li>Service Fee: INR 299-500<\/li>\n\n\n\n<li>GST: INR 850<\/li>\n<\/ol>\n\n\n\n<p>Total extra charges to be paid = ~INR 10,150 &#8211; 28,850 (this is the typical range, the exact amount depends on the exchange rate).<\/p>\n\n\n\n<h1 class=\"wp-block-heading\"><strong>Pros &amp; Cons of Doing an International Transfer From SBI Online<\/strong><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Pros<\/strong><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Simple Online Process:<\/strong> You can send money abroad without stepping into a branch\u2014everything is done online.<\/li>\n\n\n\n<li><strong>Global Reach:<\/strong> SBI supports transfers to over 200 countries, giving you plenty of options.<\/li>\n\n\n\n<li><strong>Reliable and Secure:<\/strong> Dealing with a trusted bank like SBI provides a sense of safety.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Cons<\/strong><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Costly:<\/strong> SBI adds a markup of 1-3% on the exchange rate, making your transfer more expensive than necessary.<\/li>\n\n\n\n<li><strong>Slow:<\/strong> Be prepared to wait 2 to 5 working days for your money to reach its destination. This includes time for adding a beneficiary and getting approval.<\/li>\n\n\n\n<li><strong>Not Available for New Accounts:<\/strong> If your SBI account is less than six months old, forget about transferring money internationally. This option isn&#8217;t available immediately for new customers.<\/li>\n\n\n\n<li><strong>Limited Transfer Amounts:<\/strong> If you need to send more than INR 5 lakhs, SBI online isn\u2019t the best choice. You can only send up to INR 5,00,000 in the first four days after adding a new beneficiary. Even after that, the daily limit is USD 25,000 (around INR 21 lakhs). If you&#8217;re sending more, this method won&#8217;t work.<\/li>\n\n\n\n<li><strong>Not for Large Transfers:<\/strong> Given these limitations, if you&#8217;re planning to transfer a large amount, look elsewhere.<\/li>\n<\/ol>\n\n\n\n<p>Think carefully about these points before deciding to use SBI&#8217;s online service for your international transfer.<\/p>\n\n\n\n<p><strong>Also Read:<\/strong> <a href=\"https:\/\/www.extravelmoney.com\/blog\/avoiding-money-transfer-mistakes-from-india\/\" target=\"_blank\" rel=\"noreferrer noopener\">8 Mistakes To Avoid When Transferring Money From India<\/a><\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Why You Should Choose ExTravelMoney For Sending Money Abroad<\/h1>\n\n\n\n<p>ExTravelMoney is an online aggregator of banks and RBI-approved money changers in India. At ExTravelMoney.com, we specialise in international money transfers, making it cheaper, convenient and safe for our users.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><\/td><td><strong>SBI<\/strong><\/td><td><strong>ExTravelMoney<\/strong><\/td><\/tr><tr><td>Exchange Rate Margin<\/td><td>1 to 3%<\/td><td>0.5 to 1%<\/td><\/tr><tr><td>Speed of Transfer<\/td><td>2 to 5 working days<\/td><td>4 to 48 working hours<\/td><\/tr><tr><td>Expert Guidance<\/td><td>Minimal support. You&#8217;re on your own for adding beneficiaries and initiating transfers.<\/td><td>Get dedicated expert guidance from our customer support team, ensuring a smooth and error-free transaction.<\/td><\/tr><tr><td>Safety<\/td><td>Safe<\/td><td>Safe &#8211; All transactions are facilitated by banks and leading RBI-authorized money changers partnered with ExTravelMoney.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>1. Compare Exchange Rates<\/strong><\/p>\n\n\n\n<p>Don\u2019t limit yourself to just one provider like SBI. Use <a href=\"https:\/\/www.extravelmoney.com\/wire-transfer\/\" target=\"_blank\" rel=\"noreferrer noopener\">ExTravelMoney.com<\/a> to compare exchange rates from various banks and money transfer services. We have partnerships with leading banks and money changers who offer &#8220;Wholesale Exchange Rates&#8221;\u2014often cheaper than what you&#8217;d get directly from a bank.<\/p>\n\n\n\n<p><strong>2. Transfer Money Fast<\/strong><\/p>\n\n\n\n<p>With ExTravelMoney, your money reaches its destination faster, typically within 4 to 48 working hours, unlike the 2 to 5 days it might take with traditional banks like SBI.<\/p>\n\n\n\n<p><strong>3. No Need For New Account Creation<\/strong><\/p>\n\n\n\n<p>There&#8217;s no need to open a new account or meet any minimum balance requirements to use our service. Simply use your existing bank account to initiate a transfer.<\/p>\n\n\n\n<p><strong>4. No First-Time or Daily Limits on Transfers<\/strong><\/p>\n\n\n\n<p>Unlike SBI, which imposes a daily transfer limit and restrictions for new beneficiaries, ExTravelMoney has no such constraints. You can transfer as much as you need within the USD 2,50,000 equivalent RBI LRS limit.<\/p>\n\n\n\n<p>Transferring money abroad using SBI\u2019s online platform is a straightforward option for many, especially if you value the security of dealing with a well-known bank. However, it comes with certain limitations like higher costs, slower processing times, and restrictions on new accounts and large transfers. If you\u2019re looking for a more cost-effective, faster, and more flexible option, ExTravelMoney.com offers a compelling alternative. With lower exchange rate margins, faster transfer speeds, and fewer restrictions, ExTravelMoney can help you save time and money while ensuring a smooth, hassle-free experience.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Frequently Asked Questions<\/h1>\n\n\n<div class=\"wp-block-uagb-faq uagb-faq__outer-wrap uagb-block-e05f8fc3 uagb-faq-icon-row uagb-faq-layout-accordion uagb-faq-expand-first-true uagb-faq-inactive-other-true uagb-faq__wrap uagb-buttons-layout-wrap uagb-faq-equal-height     \" data-faqtoggle=\"true\" role=\"tablist\"><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-67ee6954 \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">How much does SBI charge for international money transfers?<\/span><\/div><div class=\"uagb-faq-content\"><p>SBI charges a combination of exchange rate markup (1-3%), service fees (INR 299 &#8211; 550), intermediary\/bank charges (USD 15-30 equivalent), and applicable GST, which varies depending on the transfer amount.<\/p><\/div><\/div><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-03683c24 \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">How long does it take for an international transfer via SBI online?<\/span><\/div><div class=\"uagb-faq-content\"><p>It typically takes 2 to 5 working days for an international transfer via SBI online to be processed and completed, including the time for adding a beneficiary and approval.<\/p><\/div><\/div><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-11e1504d \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">Is there a limit on the amount I can transfer from SBI online?<\/span><\/div><div class=\"uagb-faq-content\"><p>Yes, for the first four days after adding a new beneficiary, the transfer limit is INR 5,00,000. Even after this period, there is a daily transfer limit of USD 25,000 (approximately INR 21 lakhs).<\/p><\/div><\/div><div class=\"wp-block-uagb-faq-child uagb-faq-child__outer-wrap uagb-faq-item uagb-block-db571603 \" role=\"tab\" tabindex=\"0\"><div class=\"uagb-faq-questions-button uagb-faq-questions\">\t\t\t<span class=\"uagb-icon uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M432 256c0 17.69-14.33 32.01-32 32.01H256v144c0 17.69-14.33 31.99-32 31.99s-32-14.3-32-31.99v-144H48c-17.67 0-32-14.32-32-32.01s14.33-31.99 32-31.99H192v-144c0-17.69 14.33-32.01 32-32.01s32 14.32 32 32.01v144h144C417.7 224 432 238.3 432 256z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<span class=\"uagb-icon-active uagb-faq-icon-wrap\">\n\t\t\t\t\t\t\t\t<svg xmlns=\"https:\/\/www.w3.org\/2000\/svg\" viewBox= \"0 0 448 512\"><path d=\"M400 288h-352c-17.69 0-32-14.32-32-32.01s14.31-31.99 32-31.99h352c17.69 0 32 14.3 32 31.99S417.7 288 400 288z\"><\/path><\/svg>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t<span class=\"uagb-question\">In what all currencies can we send money abroad from SBI Online?<\/span><\/div><div class=\"uagb-faq-content\"><p>1. USD<br>2. EUR<br>3. GBP<br>4. SGD<br>5. AUD<br>6. CAD<br>7. NZD<br>8. AED<\/p><\/div><\/div><\/div>\n\n\n<p>Also Read: <a href=\"https:\/\/www.extravelmoney.com\/blog\/money-wire-transfer-india-abroad-how-works\/\" target=\"_blank\" rel=\"noreferrer noopener\">How Wire Transfer From India to Abroad Actually Works<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you an SBI account holder who is looking to do international remittance from India?&nbsp; In this article, we\u2019ll show you how to transfer money [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":6329,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[9],"tags":[800,109],"class_list":["post-6252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-money-transfer","tag-international-money-transfer","tag-online-money-transfer-from-india"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Transfer Money Abroad From SBI Online: Process &amp; Charges<\/title>\n<meta name=\"description\" content=\"Learn how to transfer money abroad from SBI online, including the process, charges, pros &amp; cons. 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