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CUSTOMER ADVISORY

Dear Customer

In recognition of the COVID-19 pandemic, MasterCard has enhanced the contactless transaction limit at POS for Debit Cards in the UK from GBP 30 to GBP 45, which means, your PNBIL Debit Card Contactless limit will be enhanced to GBP 45. This enhanced limit will be with effect from 01st April 2020.

We hope you would make use of this enhanced limit and use your debit cards for payments through contactless at POS, reducing the physical contact with payment machines and hopefully slowing the virus spread.


UK : India :

FAQ's

MONEY TRANSFER


1) What are the types of money transfer?
    There are 6 types of transfer:

• Faster Payment: For an amount of less than £100,000 per transaction.
• Transfer within PNBIL: Self Accounts and Third Party Transfers.
• 3 Other UK Banks Transfer: CHAPS Transfer (Same Day), BACS Transfer (Three Day), Issue of Sterling Draft.
• Indian Rupee Transfer: PNB India Accounts, Other Indian Bank Transfer (NEFT/RTGS), Indian Rupee Draft Issue.
• Nepali Rupee Transfer: for Accounts in Everest Bank, Nepal.
• Other Currency SWIFT Transfer in EUR/USD/JPY/CAD/AUD/GBP/NPR.

2) Can I transfer funds online?

Yes, you can transfer funds online if you have an account with PNBIL. Alternatively, you can visit a branch and deposit cash for the request transfer.

3) What are the charges for the transfer?

Faster Payment :
INDIVIDUAL £3 irrespective of the amount of Faster Payments

NON-INDIVIDUAL
Amount of remittance Commission
Up to £1000 £ 5
Above £1000 to £15000 £ 10
Above £15000 £ 15

BACS - No Charge
CHAPS - £25 per payment
International Payments (SWIFT) - £25/$40/€50
INR NEFT/RTGS - 0.1% subject to Minimum £5/US$10/€8 and Maximum £25/US$50/€40
Issuance of Banker's Cheque/Pay Order - £15/$20/€20 (No issuance through cash. If through debit card- £25/$40/€40)

4) Is there a limit to transfer money in case I am not a PNB customer?

Yes, there is a limit of £9000/quarter for cash deposit to transfer money if you are not a customer of PNBIL.

5) What are the cash handling charges for cash deposit for money transfer?

A charge of £3 per £1000 or part thereof is applicable if funds being used for money transfer were deposited in cash in your PNBIL Account.

6) Are there any documents required for depositing cash to transfer money if I am not a PNB customer?
    Yes, the following documents are required for depositing cash in the account:

• Proof of address
• Proof of identification
• Withdrawal Slip
• ATM slip, bank statement or letter from the other bank stating proof of funds was lying with another bank.

7) Is there a cut off time for money transfer?
    Yes, there are different cut-off time for different types of money transfer:
» Remittances

• Indian Rupee: 16.15pm GMT
• Nepali Rupee: 16.15 pm GMT

» Within UK

• BACS: 16.15pm GMT
• CHAPS: 16.15pm GMT
• Faster Payment: 16:15 pm GMT

» SWIFT

• RTGS: 16.15 pm GMT
• USD: 15.30 pm GMT
• GBP: 15.30 pm GMT
• Euro: 12.30 pm GMT

The transactions done after the cut-off time will take place the next working day with the exchange rate of the next day.
All Transactions on Sundays & Bank Holidays will be treated as after Cut-of Time.

8) Is there a maximum amount for transferring funds online?
    Yes, there is a maximum amount for transferring funds online:

• Retail customers - £10000
• Corporate customers - £50000

For transfer in currency other than GBP or higher amounts as mentioned above, please contact your respective branch.

9) What are the currencies that you deal in?

We deal in USD, GBP, Euro. For any other currency i.e. CAD, AUD, JPY and NPR, please contact a PNBIL branch.

10) Is it necessary to submit a money transfer request in a branch in case I am unable to make an online transfer?

Yes, you can either come personally to the branch or alternatively send a signed request through email or fax.

11) Will the money be transferred immediately to another bank account?
India UK Other
PNB account – 24 hours Faster Payment – Same day  SWIFT – 24 hours
Non PNB account – 3 working days CHAPS – Same day  
  BACS – 3 working days  

12) What is today’s exchange rate?

Please refer to the home page or Money Transfer page . Additional 10p for GBP to INR money transfer up to £10000 through net banking. On week days exchange rate for above £10000 will be decided by bank at the time of transaction.

13) Is there a possibility that my net banking will not enable me to transfer money?
    Yes, in case of the following scenarios your IBS may not be working:

• You are not using internet explorer version 6.0 or above.
• We have not received the signed acknowledgement slip (for facilitation we attach a self-addressed envelope in the IBS pack).
• Your password is blocked due to
• Three wrong password attempts.
• Password not changed since one year.

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Punjab National Bank (International) Limited (PNBIL) is a UK incorporated banking subsidiary of Punjab National Bank, India (PNB). PNBIL is Authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. PNBIL is a member of the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS). PNBIL is authorised for accepting deposits by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Your eligible deposits are protected by the Financial Services Compensation Scheme, the UK's deposit protection scheme. The FSCS protects most depositors, including individuals and small companies upto £85,000. Eligible deposits of large companies and small local authorities are covered upto £85,000.