Thursday, May 22, 2014

Swift Code and Wire Free Transfer Queries

Receiving payments by wire transfer
A wire transfer is a method of electronic funds transfer. It allows you to receive funds directly into your bank account. Google sends your earnings in U.S. dollars or Euros, depending on your account currency, via international wire transfer to the bank of your choice and you get the money in the bank account you specify. This is a fast, simple, and secure method for receiving your payments.



Query 1 : my local branch, where i have my bank account doesn't have SWIFT CODE, but it has swift code in a branch in nearby city. However my branch have IFSC code.... am i eligible for wire transfer?


Reply : If the bank have SWIFT code in a branch in nearby city, means, it will be the main office, having international fund transfer facility. It is enough, to get wire transfer facility to you. The Google will transfer your earnings to that main branch, at SWIFT code; then it will be transferred to your account number, at your bank branch. You can provide the SWIFT code of that main branch, and IFSC code to the branch, where you have an active account.


Query 2: my branch of the bank where i have my back account doesn't have SWIFT CODE, but it have swift code in a branch in nearby city. However my branch have IFSC code.... am i eligible for wire transfer?


Reply : Yes , you can receive the payment.
If you need additional assistance locating your financial information, please contact your bank and ask for instructions for receiving a wire transfer from abroad.