Bank of India
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4 weeks of struggle to repatriate funds
Over 4 weeks to repatriate funds from India Branch to the US, put spurious impediments not required by the Reserve Bank if India for Non Resident repatriations, didnt disclose process for repatriation which involved their NY branch but cited a lot of Intermediary Bank charges for wires contravening clear and existing arrangement between my Bank and their US Clearing partner that waives intermediary charges (in reality the NY branch did not need to go through a SWIFT method at all). Breakdown of charges showed bulk of the exorbitant fees were ‘Commissions” versus Transaction Wiring charges. After this experience, will never do any more business with them;India has world class Banks that actually care about clients and smooth transactions and this experience was out of the 1960s..and they keep sending links that dont work saying they resolved the problem… the schlerotic IT links matches their lack of courtesy as was experienced. As a real time comparison, another Repatriation from a different institution took a day and half end to end, cost a minor fraction of the BofI charges and client experience was night and day. Enough …