SWIFT

Society for Worldwide Interbank Financial Telecommunications (SWIFT) is a member-owned cooperative through which the financial world conducts its business operations with speed, certainty and confidence with security. SWIFT system is very reliable network community and is fundamentally transforming the international payments and securities experience with faster, frictionless transaction delivery across the globe. As of August, 2024 more than 11,000 financial institutions and corporations in 200 countries trust SWIFT every day to exchange millions of standardized financial messages. Taking advantage of being an active member of SWIFT, Rastriya Banijya Bank Limited (RBBL) offers money transfer service with nominal fees and charges and deliver/credit the money to destined account at RBBL sent from any bank in the world via SWIFT network.

Direct Account Deposit to RBBL Account Via Swift (Inward SWIFT)

 Few Guidelines regarding Inward SWIFT Remittance:

• Beneficiary account should be KYC updated.
• Beneficiary details should be correct with respect to:
  • Bank Name: Rastriya Banijya Bank Limited
  • Bank SWIFT Code: RBBANPKA
  • Beneficiary Account Name and 16-digit account number.
  • Beneficiary Address with reachable contact number.
  • Purpose of Remittance (Mandatory) in SWIFT message. Additional document to be submitted by Beneficiary/Remitter as per bank request.
  • In case of mismatch, SWIFT transfer will be held/rejected.

• Beneficiary to furnish required documents of Remittance to bank and should comply regulatory requirement related to the transfer (in case of need).
• Bank shall contact directly to the receiver (when needed) on contact details maintained in customer account details. So, if fund is not credited to bank account in intended date, customer need to contact Remittance Unit, Head Office or the nearest branch office for more information.
• In case of document requirement, bank Shall deposit the amount after obtaining all necessary documents and the exchange rate applicable on such transfer would be the published exchange rate of the day of receiving the document.
• Comply the regulatory requirement.
  • Any social organizations receiving donation and any other support from abroad, needs to submit pre-approval letter from the Social Welfare Council as per the Central Bank of Nepal (Nepal Rastra Bank) Circular 05/080/081 dated 2080/09/12 (B.S). Social Welfare Act 2049 should be fully complied by the beneficiary.
  • Any person receiving inward remittance in FOREX from sale of technical service, software consultancy or receiving income from audio visual program as well as social media, bank shall deduct 5% tax as per Nepal government rule and regulations on crediting the amount to beneficiary.
  • Customer shall fill up Transaction Due Diligence Form for Wire Transfer  for the transfer of remittance more than NPR 50 Lakh (NPR 5 Million). 
  • Any other requirement/direction made by regulator.

Outward Swift Transfer

RBBL Customers can easily transmit purposive amount (Study Expenses, Medial expenses, TT transfer payment etc)  through RBBL branch offices in major currencies worldwide through its vast network of correspondent banks.  While transmitting such transfer, customers need to comply all regulatory requirements and submit all necessary documents to RBBL branch Offices along with SWIFT transfer request letter. Nominal charges are applicable for such transfers. Few Facilities of Outward Remittance at RBBL and guidelines:

Study Expenses (Tuition Fees and Living Expenses):

Required Documents:

• RBBL account for fund transfer
• Program/course enrollment documents
• University/College invoice/ money transfer request letter
• Bank account details of University/college
• Original NOC (No objection letter) of education ministry
• Copy of Passport
• Swift Funds Transfer Request Form
• Branch request letter for SWIFT transfer
• Any other document as required.

TT Transfer (As per Performa Invoice/Commercial Invoice ):

Required Documents:

• RBBL account (Current account) for fund transfer
• Latest Performa Invoice/ Commercial Invoice (not more than 3 months old)
• Pan number of Importer
• Bank account details of Exporter with all necessary details
• Swift Funds Transfer Request Form
• Branch request letter for SWIFT transfer
• Any other document as required.

Charges and Commission:

Official Forms :

• SWIFT Fund transfer request form
• Transaction Due Diligence Form for Wire Transfer

RBBL processes foreign remittance using SWIFT through following correspondent Banks:

Contact Details:

REMIT UNIT:     

Phone Number: 015721239 Ext, 1730, 3345

email: rbb.remit@rbb.com.np

SWIFT UNIT:    

Phone Number: 015721239, Ext 1726

Phone Number: 015721237 (Direct Line)

email: swift@rbb.com.np