You can receive money from an international account via 2 methods.
1. SWIFT/Wire Transfer: Wire transfer, also known as SWIFT transfer, is an electronic method of sending and receiving money from one bank account to another across the globe. In the wire transfer request, the sender should include the following information For international inward remittance, you may need to provide the following details:-
a. Your bank account with the prefix EQUITAS and your IFSC code. For example: if your account number is 101234567890, the Account Number field needs to be written as EQUITAS101234567890. In the absence of the prefix ‘EQUITAS’, the Transaction amount shall be reversed.
b. Beneficiary Bank Name – Indusind Bank.
c. Beneficiary Bank Swift Code – INDBINBBGRD.
d. Purpose field should be specified as below:
- P1301 - Inward remittance from Indian non-residents towards family maintenance and savings
- P1302 - Personal gifts
- P1401 - Compensation of employees/ Salary
Please note: Equitas Bank shall not be responsible for any NOSTRO charge or service charge applied on the SWIFT remittance due to incorrect details provided.
Please click here for further details on receiving money from an account abroad.
Note- Once the sender has successfully sent the money, it should be credited to your account within 7-10 working days. You can track your transaction on this link.
2. Direct Transfer: You can exchange foreign currency in an overseas country by using an intermediary of your choice. An Exchange House, Overseas Bank, or Fintech company involved in forex remittances can serve as the intermediary. Conversion occurs in the foreign country, and Equitas has no involvement in currency conversion.
Details For the Remitter Bank:
IFSC code of Equitas Bank Branch (or) “ESFB0001001”
Purpose of Remittance - Family Maintenance & Savings (P1301 - widely used Purpose Code).
Beneficiary Account Number & Name.
DO NOT PROVIDE SWIFT code for direct transfers.
Please be aware that if you choose direct transfer, Equitas Bank will not be held liable for the time it takes to receive the funds.