Remittance Services

CASHOME Remittance to India via State Bank of India (SBI)

Sending money to your loved ones back home in India is now a breeze with CASHOME - the smart, simple and safe remittance service by Singapore Post.

SingPost has tied up with the State Bank of India (SBI) to open a new remittance corridor to India. All it takes is to visit any post offices conveniently located island-wide to send money, and the money will be credited to the recipient’s Bank Account maintained with State Bank of India (SBI) and State Bank of India Associate Banks.

To send money to India, just follow the 2
easy steps below:

steps india

Hurry down to any post office and sign up for CASHOME TODAY! For more information on CASHOME Remittance, visit any post office or call 1605.

Frequently Asked Questions (FAQs)

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  1. Overview
  2. Sending Money
  3. Receiving Money
  4. Fee/Charges
  5. Limits
  6. Security
  7. Transaction Queries
  8. Service Issue

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1. Overview

1.1 What is this remittance service all about?

This is a remittance service offered by State Bank of India (SBI) in collaboration with SingPost. It is a fast, convenient, and secure remittance service that allows the sender to remit money into a recipient’s bank account maintained with SBI or SBI Associate Banks in India via SingPost’s post offices.

The list of SBI Associate Banks available are: 

-     State Bank of Bikaner & Jaiper
-     State Bank of Hyderabad
-     State Bank of Mysore
-     State Bank of Patial
-     State Bank of Travancore 

1.2 What are the benefits of this service?

This is a fast, convenient and secure remittance service available at any of SingPost's 60 post offices and selected Self-service Automated Machine (S.A.M) conveniently located island-wide. The money will be credited to the Recipient's bank account maintained with SBI or SBI Associate Banks. 

1.3 Where is this service offered?

CASHOME – State Bank Of India (SBI) Remittance Service is now available at the following channels:

  • ALL 60 Post Offices island-wide.
  • Selected Self-service Automated Machines (S.A.M) located at the Post Offices


1.4 What are the payment modes?

You can fund your remittance transaction by NETS or by Cash when you transact at the post offices. Based on your instructions, the money will be credited into your recipient's bank account maintained with SBI or SBI Associate Banks. If you are transacting at S.A.M, payment can only be made by NETS.

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2. Sending Money

2.1 Do I need to register for the service?

You need to first register for a CASHOME Card at any post office. A CASHOME Card is an identification card for you to use at any post offices, selected S.A.M (if applicable) or even vPOST (if applicable) to remit money to your recipients. This saves you the hassle of filling up any forms for subsequent transactions.

After  registering  for  a  CASHOME  Card,  you  are  also  required  to  do  a  one-time registration  of  the  designated  recipient’s  name  and  recipient’s  SBI  Bank  Account Number  at  the  Post  Office.  Should  there  be  any  changes  in  the  Recipient’s  Bank Account Number or if you would like to add on more recipients to your CASHOME Card, you need to proceed to any Post Office to do before the transaction can be done at the post office. 

2.2 What Recipient Information needs to be provided to send money?

You  will  need  to  provide  the  SingPost  staff  at  the  post  office  with  the  following information when registering the Recipient Information:

For SBI Accounts:
-     Recipient Name
-     Recipient Bank Name
-     Recipient Bank Account Number
-     Recipient Bank Branch Name
-     Recipient Bank IFSC Code

2.3 How do I send money?

There are 2 ways in which you may send money via CASHOME State Bank Of India Remittance Service:

  1. ALL 60 Post Offices island-wide
  2. Selected Self-service Automated Machines (S.A.M) located at the Post Offices

i. At All 60 Post Offices Island-wide (Over-The-Counter)

Step 1: You need to first register for a CASHOME Card at any of the Post Offices by presenting your NRIC or Work Permit. You will be presented with a CASHOME Card instantly.

Step 2: You will also need to do a one-time registration of the Recipient's details in the CASHOME Card and you will have to provide the staff at the post office with the Recipient's Name and SBI India Bank Account Number, SBI India Branch Name, SBI Bank Name or IFSC Code whom you would like to send money to.

Step 3: Advise the staff who is the intended recipient and the amount to send.

Step 4: Make payment via CASH or NETS over the counter and you will receive a CASHOME-SBI Remittance transaction receipt. The money will be credited into the designated recipient's SBI Bank Account or SBI Associate Banks Account accordingly.

For subsequent CASHOME-SBI remittance transaction at the post offices, please present your CASHOME Card to the staff at the post office and proceed with Step 3 & Step 4.

However, please note that should you need to register for any new recipients or amend the Recipient's Bank Account Number, you would have to do so at any post office. Do ensure that you bring along your CASHOME Card and your original ID e.g. NRIC.

ii. At Selected Self-service Automated Machines (S.A.M) located at the Post Offices

To further meet your remittance needs, you may want to send money via CASHOME State Bank Of India (SBI) Remittance Service on selected Self-service Automated Machines (S.A.M). Gone are the days when you need to rush to the Post Office right before it closes its door! You can now send money on selected S.A.M 24/7 at your own convenience!

Step 1 & 2: You would have to ensure that both Step 1 & 2 above are completed at the Post Office before you could start transacting CASHOME State Bank Of India (SBI) Remittance Transaction on S.A.M.

Step 3: Go to any S.A.M located at any Post Office. Select the Remittance Icon on the right hand side of the S.A.M screen. Insert the CASHOME Card and follow through the simple step-by-step guide screen flow on S.A.M to select the desired Recipient to send the money to and key in the amount to send.

Step 4: Confirm that all information is correct before proceeding to the payment page. Payment can only be made by NETS for S.A.M transactions and you will receive a CASHOME State Bank Of India (SBI) Remittance Transaction Receipt. The money will be credited into the recipient's SBI Bank Account or SBI Associate Bank Account.

For subsequent CASHOME State Bank Of India (SBI) remittance transaction at S.A.M, you may just proceed with Step 3 & Step 4 above.

However, please note that should you need to register for any new recipients or amend the Recipient's Bank Account Number, you would have to do so at any Post Office. Do ensure that you bring your CASHOME Card.


2.4 Is registration of the CASHOME card free?

The CASHOME Card is free! For subsequent card replacement, a S$5 fee applies each time.

2.5 Why do I need to state the purpose of remittance for each remittance made to SBI Bank Account in India?

Purpose of remittance is required as part of the customer due diligence information required by SBI and SingPost to comply with AML/CFT regulations under Monetary Authority of Singapore (Anti-Terrorism Measures) Regulations 2002 (“MAS Regulations 2002”).

2.6 What if I do not know the bank account number of my recipient?

Please  check  the  recipient’s  bank  account  number  as  you  will  need  it  to  remit  the money.

2.7 How does my recipient check for his/her IFSC Code?

The  beneficiary  customer  can  obtain  the  IFSC  code  from  his/her  bank  branch. The IFSC code can be found on the cheque leaf of his/her cheque book.

2.8 If I cannot produce the IFSC code, can I still remit money to SBI Bank Account?

Yes, you can. You will need to furnish the SBI or SBI Associate banks Branch Name with its address to us so that we can check against our database for its IFSC code.

2.9 How long does the money take to be credited to the recipient’s bank account?

  • For SBI Bank Accounts:
    -     For Transaction done before 4pm on T-day, your money would reach your beneficiary the next business day before 2 p.m (Apply to SBI Bank Accounts only).
    -     For Transaction done after 4pm on T-day, your money would reach your beneficiary the second business day before 2 p.m on the 2nd working day (Apply to SBI Bank Accounts only).

 

  • For SBI Associate Bank Account:

   -    For Transaction done before 4pm on T-day, your money would reach your beneficiary the 2nd business day before 2 p.m.
   -     For Transaction done after 4pm on T-day, your money would reach your beneficiary the 3rd business day before 2 p.m.

2.10 How will I be informed that the funds have been successfully sent? Can I track the transaction?

You  will  receive  a  transaction  confirmation  receipt  at  the  post  office  once  your transaction is confirmed. In the event that the remittance is unsuccessful, we will notify you at the earliest possible time.

2.11 How will I know if the funds have been successfully received?

You need to check with the recipient on whether the funds are successfully transferred.

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3. Receiving Money

3.1 Who can receive money?

Anyone with a valid bank account maintained with SBI in India and Bank Account under SBI Group as follows:
-     State Bank of Bikaner & Jaiper
-     State Bank of Hyderabad
-     State Bank of Mysore
-     State Bank of Patial
-     State Bank of Travancore

3.2 Does the recipient need to pay for the transaction fee?

Our fees are charged to the sender. No fee is expected to be charged on the recipient. 

4. Fees/Charges

4.1 What are the fees involved in this remittance service?

CASHOME-SBI remittance service to India is one of the most competitively priced remittance services in the market. The remittance fee is at a flat rate of S$9 per transaction.

4.2 Who pays the fees, the person sending the money or the person receiving it?

The sender remitting the money pays the transfer fee.

4.3 Can I choose which currency to remit the money to?

You can only remit money to recipients in Indian Rupees (INR).

4.4 What exchange rate is used?

The prevailing exchange rate used will be the rate quoted to you at the point of the remittance transaction.

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5. Limits

5.1 What is the minimum and maximum amount I can transfer?

In order to ensure the maximum security for the remittance transaction and in keeping with  money  transfer  regulations,  the  maximum  remittance  amount  is  S$3,500  per sender per day. The sender can remit money to a maximum of three recipients as long as the remittance amount does not exceed S$3,500.

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6. Security

6.1 Is the service secure?

YES,  the  service  is  extremely  secure.  SingPost  is  committed  to  safeguarding  your personal information and privacy.

6.2 Is there an audit trail for funds received?

Yes, SingPost is obligated by law to hold details of all transactions.

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7. Transaction Queries

7.1 Can I cancel the transaction?

As  the  transfer  is  initiated  immediately  once  you  complete  the  transaction,  you  are unable to cancel it.

7.2 What  should  I  do  when  my  recipient  reports  non-receipt  of  the  remittance money?

You need to present the original receipt at the post office and submit a transaction enquiry. SingPost will notify you on your enquiry at the earliest possible time.

7.3 What should I do if there is an error in my transaction e,g, account number is wrong?

Generally, if the detail (e.g. account number, IFSC code, or branch name) provided is invalid, the transaction will be rejected.   However, you may call our 1605 or submit your enquiry  request  to  any  post  office  to  confirm  the  status  of  your  remittance  before deciding if you need to perform another remittance.  SingPost will confirm the status of your  remittance  within 3  working  days after  receipt  of  the  enquiry  request  and transaction details from you in good order.

7.4 Can  I  go  to  any  SBI  Bank  Branch  to  enquire  on  my  remittance  transaction performed at SingPost?

You should enquire the status of the remittance with SingPost only if your beneficiary has  confirmed  the  money  is  not  credited  into  the  bank  account  after  the  stipulated timeframe below:

  • For SBI Bank Accounts:
    -     For Transaction done before 4pm, Recipient will receive the money on the next business day before 2 p.m.
    -     For Transaction done after 4pm, Recipient will receive the money on the 2nd working day before 2 p.m.
  • For SBI Associate Bank Accounts:

-     For Transaction done before 4pm, Recipient will receive the money on the 2nd working day before 2 p.m.
-     For Transaction done after 4pm, Recipient will receive the money on the 3rd working day before 2 p.m.

 For  enquiries  on  the  remittance  status,  you  may  call  us  at  1605  or  submit  your transaction  enquiry request  at  any  post  office.  SingPost  will  reply  to  you within  3 working days after receiving your request and the transaction details are in good order.

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8. Service Issues

8.1 Where can I call for assistance in case of service issues?

You may call our customer service hotline at 1605.

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