State Bank of India review

State Bank of India is a high-street bank, founded in 1955 and based in Mumbai, India. It is regulated by RBI (India), FinCEN, FCA, holding client funds under the safeguarding rules those regulators require.

State Bank of India's fees are structured as $5-$25 per wire transfer, but the bigger cost is usually the exchange-rate markup of 1.5% - 3% above mid-market, which is built into the rate rather than shown as a line item. Transfers run from a minimum of $50 up to $25,000 per transaction. Because that markup scales with the amount you send, it is worth comparing the final receive amount rather than the fee alone.

State Bank of India quotes transfer times of 1-3 business days, and the service reaches 20+ countries across 15+ currencies. You can fund a transfer by Bank Transfer, with money delivered via Bank Deposit. That combination of speed and reach is what shapes where State Bank of India is most competitive.

Where State Bank of India stands out — direct credit to any indian bank account, india's most trusted bank brand and global branch network. That makes it a sensible choice for existing customers who value keeping the transfer inside their own bank. The main trade-offs to weigh: higher exchange rate markup than fintechs and slower than dedicated transfer services.