HIGHLIGHTS

SBM BANK’s SBMremit is a seamless online remittance service offered to NRIs via Online Transfers & Wire transfers. SBMremit is safe, transparent & cheapest way of sending money to India from abroad. To send money with SBMremit, a customer should complete one time registration by filling the online form and subsequently adding the beneficiary details.

SBM BANK (INDIA) LTD.  is the first bank to receive a banking license from the Reserve Bank of India (RBI) to establish a universal banking business in India through the Wholly Owned Subsidiary (WOS) mode. We currently operate in Delhi, Mumbai, Chennai, Hyderabad, Bengaluru and Ramachandrapuram. Our aim is to shape a better tomorrow for you with innovative, digital solutions. SBM Group brought its rich experience to India by setting up the Indian Operations in 1994.

 

 

FEATURES (Currently showing rates for UK to IND change )

Today's Rate
For New Users Only
£ Amount
₹ Exchange Rate
£0 - £2000
₹93.87*
£2001 - £200000
₹93.87*
For Returning Users
£ Amount
₹ Exchange Rate
£0 - £2000
₹93.67*
£2001 - £200000
₹93.67*
Exchange Rate Type
Locked-in
Transfer Fee
Bank Account
£ Amount
Fee
Up to £999999
0.2%
In-branch Transfer
£ Amount
Fee
£0 - £999999
0.5%
Transfer Time
Bank Deposit
1 Day
Transfer Type
  • Online Transfer
  • Credit Card/Debit Card
  • Wire Transfer
Daily Transfer Limit
The daily limit is $200K.
Customer Service Info
Monday to Friday from 11am - 7pm IST
Company Headquarter
Mumbai, India
Company Type
Remittance Providers
Mobile App
Company Established
1994
Text Update (SMS)
Yes
Email Updates
Yes
Provider's FAQs
SBM remit FAQs: https://www.sbmremit.com/transfer/jsp/send/sbm/contactUs.jsp
Referral Program
No
Key Feature

  • Send up to 200k in one transaction;

  • Choose Indicative or Locked -in – Rate;

  • Best Exchange rate;

Document Requirements
Passport

EDITORIAL REVIEW

SBMremit is part of SBM Bank (INDIA) Limited , It is the first bank to receive a banking license from the Reserve Bank of India (RBI) and to establish a universal banking business in India through the Wholly Owned Subsidiary (WOS) mode. SBM Group brought its rich experience to India by setting up the Indian Operations in 1994.SBMremit offers guaranteed exchange rates with transparent fee for money transfer service to India.

SBMremit is a secure online money transfer service provider that offers money transfer service to India from United Kingdom & Australia.

In order to send money through SBMremit, SBMremit require the sender to use a bank account. In the UK, money can be sent in a day using Net Banking Facility. Customers can transfer money to any bank in India. Sending large amounts of money using wire transfer through SBMremit takes 2 working days.

The money can be received directly into the bank account. The money can be deposited in all the bank across the country. All transactions can be tracked through SBMremit Status Tracker.

There is a transparent fee of 0.5% of sending amount for sending money from the United Kingdom & Australia to India. SBMremit claims that there are no additional hidden fees associated with the services.

But what is attractive about SBMremit are the exciting offers. For new users from the United Kingdom and Australia there is an Extra Re. 1 offer on the exchange rate up to GBP 1,000 and GBP 1 fee for exchange rates up to GBP 2000. 

 

SBMremit provides an excellent exchange rate with transparent service that is quite a good proposition for NRIs in United Kingdom and Australia. SBMremit is also a good platform if someone wants to send a large amount of money as this is a secure online platform offered by SBM Bank (India) Limited.

 

USER REVIEWS

chelsie c
Posted on September 03, 2020, 05:01 am

I am using SBM remit for the last 5 months and found it good in terms of customer service and the rates are really competitive and service charge is minimum compared to other remit service. It generally takes 2-3 days to get the money transferred. I generally used to get a call from customer care and also an email to inform me on the transaction updates. Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__ Customer_support_+1-8-4-4-4-2=OOO67__So far I am very happy with their service and rates. Looking forward to continue using SBM Remit.

 
chelsie c
Posted on September 03, 2020, 04:58 am

I am using SBM remit for the last 5 months and found it good in terms of customer service and the rates are really competitive and service charge is minimum compared to other remit service. It generally takes 2-3 days to get the money transferred. I generally used to get a call from customer care and also an email to inform me on the transaction updates. So far I am very happy with their service and rates. Looking forward to continue using SBM Remit.

 
Anonymous
Posted on July 27, 2020, 11:05 pm

I am using SBM remit for the last 5 months and found it good in terms of customer service and the rates are really competitive and service charge is minimum compared to other remit service. It generally takes 2-3 days to get the money transferred. I generally used to get a call from customer care and also an email to inform me on the transaction updates. So far I am very happy with their service and rates. Looking forward to continue using SBM Remit. Kudos to team SBM Remit.

 
ChandraKishor Darisi
Posted on July 22, 2020, 06:34 am

Good customer service very helpful and better rates. Thanks SBM remit.

 
SACHIDANAND ALLE
Posted on April 08, 2020, 05:14 am

Much better than other current/popular competitors w.r.t. rates. A very good customer support too. Looking forward to use this service more and more times in coming days/months/years. The website needs some improvements on providing more/additional details on tracking.. so that users can avoid contacting Customer Care for smaller things.. but hopefully those technical things will be fixed asap.

 
SBM Bank India LTD
Posted on June 05, 2020, 12:30 am
Hi Sachidanand, thank you for your kind words. Customer satisfaction is our prime objective, and we always look forward to serving you better.
Bharat Suvarna
Posted on April 08, 2020, 02:05 am

Good, Fast and Reliable

 
SBM Bank India LTD
Posted on June 05, 2020, 12:36 am
Hi Bharat, Thank you for your extensive and incredibly rave review! We are extremely pleased to hear that you find our services both Fast and Reliable. It is feedback such as this that keeps us going and encourages us to strive for improvement.
Rajesh
Posted on March 30, 2020, 06:20 am

I have a very positive experience with SBM Remit. I got better exchange rate than other companies and websites. Also, their background verification process is good so chances of fraudulent activities are minimal. I would certainly recommend this service.

 
SBM Bank India LTD
Posted on June 05, 2020, 12:37 am
Hi Rajesh, We are thrilled to hear that you had a wonderful experience while remitting with SBM remit. Also, thank you for finding the time to share your positive experience with others!
Ganesh
Posted on March 27, 2020, 05:36 am

Noticing that there is some technical glitches on delaying to credit the fund in benificiary account but the way they responding and their customer service is very much impressed us. I believe the SBM could improve their web/database to the international standards and attract more client in the first impression which is missing. I would strongly recommend /trust the SBM for someone from abroad to send money. Give an opportunity if someone willing to improve and sustain in this current economic climate.

 
SBM Bank India LTD
Posted on June 05, 2020, 12:38 am
Hi Ganesh, thank you for your kind words. Customer satisfaction is our prime objective, and we always look forward to serving you better.
Johny
Posted on March 16, 2020, 02:59 am

SBM remit is one of the worst remittance providers and PLEASE PLEASE STAY AWAY FROM THIS COMPANY!!! I made my transaction on 10/03/20 and after 3 days of messing around they have contacted me on Friday evening that they no longer able to proceed with my transaction. I strongly believe that they are carrying out fraudulent activities. The customer service of this company is shockingly bad and i never encountered anything similar in my whole life. Compare remit please remove this company from your comparison as many other people will end up falling for this scam!!

 
SBM Bank India LTD
Posted on March 17, 2020, 06:57 am
Hi Johny, this is not the kind of experience we want you to get with us. SBM service team has reached out to you with a solution and your issue is resolved. Please write us on sbmsupport@remit.in for any further query.
Morty
Posted on March 15, 2020, 08:29 am

SBM remit is not reliable company and provides very poor customer service. I have made transaction on 10/03/20 and SBM had my money for 3 days without completing my transaction. On the 3rd day end of business they wrote to me that they cannot perform the transaction. This has caused significant loss to me and I couldn't send the money to India where it was required urgently. If SBM has informed me earlier, I would have used other remittance services. I suspect that SBM used my funds for their own profits. I ask all the public to be vigilant and dont believe in false advertisement. I was so close to lose all my savings. I am taking these complaints to authorities, as I am a victim of fraud advertisement.

 
SBM Bank India LTD
Posted on March 17, 2020, 06:53 am
We regret for the inconvenience caused to you. We have refunded your transaction to your bank account since we could not process the transaction due to the unprecedented circumstances. You were approached by our team and they have offered you a solution to complete your transaction without any monetary loss.

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