Telegraphic Money Transfers- Inward TTS (Settlements)
Product Features
- Electronic transfer of funds in the country.
- Processed in USD, EUR, GBP, ZAR and CNY.
- Funds are credited to the beneficiary between 1-3 working days from the date of wiring (the transaction).
- Inward Transfer charges as per the bank tariff guide.
- Funds received can be returned in case of failure to receive due diligence confirmation from correspondent bank or KYC report from the domicile branch within five working days.
- Funds received with incomplete details that don’t tally with the bank records are returned on the same day.
Benefits
- No cash handling risks.
- Fast, safe and reliable.
- Facility convenient for movement of large sums of funds.
- No Risk of forgeries as no cheque issuance is involved.
- Worldwide coverage.
Requirements
- Beneficiary MUST be an account holder.
- Beneficiary should avail sender with full correspondence details, i.e., beneficiary name, beneficiary a/c number, SWIFT code of the bank (CERBUGKA) and IBAN as generated directly from the respective customer account number in the system.
- Beneficiary should provide customer remittance confirmation copies on request through the branch.