Understanding of FOREX w.r.t USD swift transfer to my account

Dear Concern,

Please help me understand the below queries:

  1. How does International deposits work?
  2. Can I deposit USD from a foreign bank to my account?
  3. What are the charges associated with it. Kindly explain with an example, if a $100 bill is transferred via swift code.
  4. What is your current cost per USD (consider current date)

Hi @saikatbarman,
You can load funds using an international account through the swift code STCBINBXNPT. The 8-character swift code is STCBINBX.
Niyo Global SBM card there are no forex markup fees at all. You can load the card in INR, and use it at any VISA-accepting merchant globally. No matter where you use your Niyo Global by SBM card, there will be no markup fee.
You’ll be loading INR to your Niyo SBM account and can use the debit card for your international transactions. Your INR will be converted to a foreign currency based on the live Visa exchange rates. There are no additional charges for PoS swipes or for online transactions. For ATM withdrawals or balance inquiries, you’ll be charged Rs.100+GST.
To know the transaction limits for Niyo Global by SBM, you may check our previous post here: NEFT transfer limit local - #2 by Deepak

1 Like

Hey @saikatbarman

A warm welcome to our Niyo community.

Thank you for reaching out, your queries have been answered in the order as asked.

  1. Kindly utilize the form for International deposits.
    Inward Disposal form Original.pdf (437.6 KB)

  2. Yes, funds can be loaded to your Niyo Global by SBM account using an international account through the swift code STCBINBXNPT. The 8 characters swift code is STCBINBX. Kindly note, we do not have an IBAN number.

  3. If you are using your card/account for making international transactions, all your transactions will be processed based on live Visa Exchange rates. While receiving funds from any international account, conversion charges may vary from bank to bank.

  4. The charges are based on Live VISA exchange rates.

Ranjith M

Whether the transferred amount (in USD) will remain in USD in my account or will be converted to INR as soon as it hits my account ?

If so, what would be the conversion charges?

Do I need to do anything in either case ?


Hey @saikatbarman

The funds are processed and credited to your account post-conversion, which is based on the live VISA exchange rates. However, there will be a charge from the bank on the value being deposited into the account.

Ranjith M