Remittance Services

Customers may remit funds from one center to another center by Demand Draft, Mail Transfer from all our branches and by Telegraphic Transfer, Baroda e-Money Transfer, Real Time Gross Settlement etc. at select branches, by paying specified charges as per the Bank’s rules. The customers can utilize the facility of remittance by Electronic Funds Transfer (EFT) System, SEFT System at our select branches.

Demand drafts, Telegraphic transfers, Mail transfer etc. for Rs.50,000/- and above will be issued by the bank only by debit to the customer’s account or against cheques or other instruments tendered by the purchaser and not against cash payment. For such transactions, PAN Number is required. Similarly, such payments for Rs.50,000/- and above will be made through banking channels and not in cash.

Issue of Duplicate Demand Draft without Receipt of Non-Payment Advice -

The bank will issue duplicate demand draft up-to Rs.5,000/- on the basis of adequate indemnity and without obtaining Non-Payment Advice from the drawee branch.

Time Frame for Issue of Duplicate Draft:

As directed by RBI, the bank will issue duplicate demand draft to the purchaser against stipulated charges within a fortnight from the receipt of request along-with required documents complete in all respect. For delay in issuing duplicate draft beyond the above stipulated period, the bank will pay interest at the rate applicable for fixed deposit of corresponding maturity in order to compensate the customer for such delay.

Banker’s Cheques :

Banker’s cheques are issued for making payments locally. Issue / payment of a Banker’s cheque for Rs.50,000/- and above is to be made only through the bank account. Validity period of Banker’s cheque is 6 months. This can be revalidated by the issuing branch on written request of the purchaser.

Baroda Remitxpress :

Bank of Baroda in association with TimesofMoney.com has started providing a unique and cost effective online fund remittance solution to NRIs from USA, UK and Euro zone

Money Transfer service Scheme – Western Union:

As per the strategic agreement, the Bank’s customers are now able to receive money from their friends and relatives residing abroad, using the international services of Western Union Money Transfer. The bank provides inbound money transfer services through its 1000 branches spread across the country.

> Our Commitment and Responsibilities
> Common Practices followed by our Branches
> Safeguards
> Common areas of Customer – Banker relationship
> Time - Norms for various banking transactions
> Extended Banking Hours
> Customer Communication
> Banking Ombudsman Scheme, 2006
> Redressal of Complaints
> Other customer centric initiatives