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moneybookers problem in INDIA

Discussion in 'Business & Tax Advice' started by vikas3445, May 30, 2012.

  1. vikas3445

    vikas3445 Regular Member

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    I am from INDIA and i use ICICI Bank.
    I have some fund in in MB.
    But now i am unable to add bank account to my MB for withdrawing funds.
    Because they ask swift code of my bank branch.
    But my brach of ICICI don't have a swift code.
    I called ICICI bank they said that, if the sender is converting the to INR before sending then use the code ICICINBBNRI Else use the code CHASUS33xxx.
    When i tried to use these codes second is not accepted because they say it is not related to icici and it is related to JP Morgan Bank(correspondent ban of icici for foreign money transactions).
    1st code shows bank ICICI , but branch Mumbai.They will accept that code.But my branch is not Mumbai.
    I got similar code for a branch near to my branch , but not my branch.I think ICICI have swift codes only for branches in popular Cities.
    They accepted that code.
    But i doubt will my withdrawal take place correctly without any problem..
    Any of you have faced this problem??
    Any idea in this matter???...
     
  2. tsree

    tsree Newbie

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    I am from kerala and I faced the same problem an year before. Not from MB but from Leadbolt. I have account in State Bank of Travancore (SBT). LB asked for swift code to wire transfer money to my account. After a lot of research and inquiries I found swift code, but that was not my branch's swift. Actually branches don't have swift. I got swift for SBT foreign exchange branch(I think that was the name), Ernamkulam. I got the money with no hassle.

    I also heard some companies require correspondent bank in US to do wire transfer. You provide Corr. bank swift, your account no. your bank name etc there and you can get money. But I am not sure in the case of MB. In my case, I provided swift code, acc.no, branch name, and my full address.
     
  3. vikas3445

    vikas3445 Regular Member

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    Sorry other members for using our local language (MALAYALAM) here
     
  4. vikas3445

    vikas3445 Regular Member

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    machu njanum keralathil ninna.
    icici kku kochi brach nu mathre ullu swift code.
    correspondent branch code avaru accept cheyyilla. athu JP morgan bank aanu.
    Avarkku ICICI yude code thanne venam

     
  5. vikas3445

    vikas3445 Regular Member

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    Correspondent bank is in US.
    MB will not accept those Correspondent bank codes, they ask direct swift code of ICICI.
    I am also from KERALA.
    In Kerala only Kochi ICICI Branch have swift code.
     
  6. Neo240

    Neo240 Power Member

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    Solved the issue 2 weeks ago lol. Contact their support and they will send you a form which you need to get signed by your bank.
    As soon as you do that, they allow your account. But that is for Debit card. If you want to verify your bank, then you have to send 20$ by wire to them I think. Then your bank account get verified.

    I am liking them BTW and they are awesome.
     
  7. vikas3445

    vikas3445 Regular Member

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    bro.
    how can i verify my bank because my branch don't have swift code?....................

     
  8. Neo240

    Neo240 Power Member

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    I already told you that. You need to wire them some money. When you go to bank verification it will show the address where money is to be sent. Unfortunately it will cost 20$+. And I verified via my Axis Debit Card.

    Just go to your bank with the codes that you get from the Bank Verification page and send a wire. it will be done soon.

    Even if you dont have swift, they will get it when you Wire them.
     
  9. vikas3445

    vikas3445 Regular Member

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    Ohhh. sorry.
    you are talking about bank verification.
    I dont want bank verification.
    I want to withdraw funds to my bank .
    then swift code problem arises.
    Otherwise i should verify my bank first and then withdraw, but it cost $20.
    Is there any way to bypass this swift code problem with sending them $20,???
    that is what i want to know

     
  10. Neo240

    Neo240 Power Member

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    No there is no way around this. Unless you transfer the money to someone else or use exchangers.
     
  11. netpal

    netpal Newbie

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    Every bank has one swift code for all wire transfers. There are no separate swift codes for each branch.

    Bank to bank transfers conducted through swift codes, then the receiving bank transfer the money to the corresponding account mentioned in the transfer instructions.
     
    Last edited: May 30, 2012
  12. vikas3445

    vikas3445 Regular Member

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    ICICI staff -- "If the sender is converting the to INR before sending then use the code ICICINBBNRI Else use the code CHASUS33xxx"

    MB staff--"Please note that withdrawals to India from your account will be processed in USD currency, not INR.This is why, according to your bank's instructions you quoted in your previous email you were supposed to enter SWIFT code CHASUS33xxx. Please do not do so because our check has confirmed that SWIFT code CHASUS33xxx does not belong to ICICI bank but to JP Morgan Chase"

    Now tell me how this problem can be resolved??......

     
    Last edited: May 30, 2012
  13. VIC SEO

    VIC SEO Elite Member

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    While giving swift code just give your complete icici account no .In account no the first 3-4 nos is the branch code and remaining is your actual account no.In this way you withdraw money to your branch account.I have received so many wires from US,never had any problem.Money bookers is also famous in india,you can visit the branch in your area and clear your doubts
     
  14. netpal

    netpal Newbie

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    Give the INR swift code. I assume your ICICI account is in INR. MB usd will be converted to INR before putting into your account. Every branch has a foreign currency clerk/manager who deals with inward/outward wire transfers. If you are not sure visit him/her at your branch in person. Explain everything clearly to him.
     
  15. vikas3445

    vikas3445 Regular Member

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    i tried that too.
    But that swift code of my branch is not getting recognized by MB.

     
  16. neo

    neo Power Member

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    Open an account in another Bank. Better ask MB support staff which is the popular Bank among Indian users.

    Like someone already mentioned, most Banks do not have separate SWIFT code for each branch. They will provide with a single SWIFT code. Together with your 16 digit Bank account you will get money even if you don't mention the Branch name.
     
  17. raj5151

    raj5151 Regular Member

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    Just give your main branch swift code, they will transfer your branch through your account number. I faced this problem few years before.
     
  18. neobboy

    neobboy BANNED BANNED

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    You can enter any swift code of nearest branch. All are operated through online. For instance, you can add your main branch swift code in your city, and that money will be forwarded to your local account.
     
  19. Jammy01516

    Jammy01516 Registered Member

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    You can use any of The SWIFT code of your Bank from any State/city.....Swift is just use for converting and transfering the money to desired Country, if you provide the exact city Swift then money will go directly to that city head branch else the head Office of the bank will do that for Branch.

    ICICI Bank has the Foreign desk/crystal branches who handles the Foreign transactions so you can get the info from them.
    we never faced such problem with SWIFT , we used Mumbai as well as Delhi Swift codes for our account details, even we using right now as well.....That doesn't matter.
    You can use any city or State Swift code around the Whole Country..
     
  20. clfox

    clfox Regular Member Premium Member

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    You can use any of the branch swift codes for ICICI.

    Use this one and it will work ICICINBB010

    You can also use any other swift code of ICICI in india.

    Swift is only to identify the bank thats used by the swift network. Once it comes into your bank network, your bank will credit the amount to your account number irrespective of which branch you have account in as each account number is unique.