Syndicate Bank AE

Hi I would like t have the information about the Remittance Facility for Gulf region offered by Syndicate Bank as well as well as the lists of the Companies having Rupee Drawing arrangement with Syndicate Bank?

[sumit]

Syndicate Bank is overseeing one trade organization in the Gulf area, specifically, Musandam trade Company (Oman). It likewise have tie-ups with 7 other Exchange Companies in the Gulf (List of trade organizations is given in the Annexure).

It encourages exchange of Rupee assets from the Gulf area through branches of select Exchange Companies for credit of records in India kept up with our Bank or whatever other Bank.

The different methods of settlement office accessible are:

Demand Drafts: The Exchange Company will issue Demand Drafts payable at standard at all the Branches in India.

Speed Remittances:
Synd-e-Remit: NRI customers can dispatch assets to their records kept up with any of the Branches in India through Exchange organizations in the Gulf by outfitting the 14 digit Account Number

NEFT/RTGS Where the recipient of the settlement does not keep up record with the Bank, the settlements will be affected through either NEFT or RTGS Demand Drafts issued by Exchange Companies. Speed Remittance items (Synd-e-Remit/RTGS/NEFT)

Points of interest of the recipient to be given by the remitter to the Exchange Companies (NEFT/RTGS) -

Beneficiary Name/address
Beneficiary record Number (14 digit)
Beneficiary record Type
Center Name:
Beneficiary Bank Name
Beneficiary Branch Name
IFSC of Beneficiary Bank RTGS least `200000/ -

Annexure

List of exchange Companies having Rupee Drawing arrangement with Syndicate Bank:

Sl No
Name of the Exchange Company

1
M/s Al Ansari Exchange Company, Abu Dhabi

2
M/s Habib Exchange, Abu Dhabi

3
M/s Musandam Exchange, Ruwi, S of Oman

4
M/s National Exchange Company, Doha, Qatar

5
M/s National Exchange Company, Kuwait

6
M/s UAE Exchange Centre, Abu Dhabi

7
M/s Wall Street Exchange Centre LLC, Dubai

8
M/s Zenj Exchange Company, Bahrain