Conditions
- There are limits to amount of money you can transfer from your current or savings accounts using online service.
- The beneficiary bank is responsible for receiving the funds, following your instructions and letting the recipient of the wire transfer know when the funds become available. The actual amount received by the beneficiary may be reduced by charges imposed by the beneficiary bank and/or intermediary bank.
- Mashreq is not responsible for any charges/ commission of any kind levied/ charged by the beneficiary bank and/or intermediary bank and reserves the right to debit your account with these charges at a later date.
- We reserve the right to debit your account with the beneficiary bank and correspondent bank charges at a later date.
- If you submit a transfer instruction before currency cut-off times on a Bank business day, the amount of the transfer plus any fees will be debited from your account immediately and your account balance available and account transaction history will be updated by the next Bank business day.
If you submit a transfer instruction after currency cut-off times on a Bank business day, on a weekend or public/bank holiday, the amount of the transfer plus any fees will be debited from your account the following Bank business day. - Under normal circumstances your money should arrive at the overseas bank of the beneficiary within 2 business days. However, we cannot guarantee this timeframe as there may be delays due to the banking practices of the overseas bank or country.
- Same day transfers into bank accounts held with Indian banks is possible provided the request is submitted online before currency cut-off time and the day is a working day both in India and UAE. Funds are credited to your beneficiary bank account in India using NEFT system of Reserve Bank of India. Mashreq India charge is INR 150.00 + 10.3% service tax per transaction, this fee is debited from the amount transferred or it will be debited to your account.
