AdSense Wire Transfer (EFT) fees charged by the banks in India

Indian bloggers availing the Wire Transfer mode of adsense payment must be worrying about how much will their banks levy or deduct for conducting the international wire transaction? Here is a brief list of the transaction charges levied by the banks in India for the adsense wire transfer (EFT).

1. State Bank of India: INR 56/-
2. ICICI Bank: INR 35/-
3. HDFC Bank: INR 55 – INR 110
4. Axis Bank: INR 500/- or above (ho, that’s terrible!)
5. Citi Bank: US$ 12 (That’s a pity too!)

I have listed 5 banks’ charges known to me. You can contact your bank to know the same.

As I have collected information from my fellow friends, State bank of India (SBI) is the best suitable bank for Indian bloggers for adsense wire payment. The best thing is that it is a Government sector bank and thus it provides reliability. Secondly, it does require too much inquiry about where the money came from or asks for any purpose codes like ‘P1007’ which stands for ‘advertising, trade fair or online blogging incomes. It takes 1 -2 days to process the adsense wire from Google.

While ICICI Bank charges a bit lower than the SBI, but I believe it is temporary because of being a private sector bank. But it does ask for income proofs like FIRC and purpose codes to process your transaction.

Axis and Citi financial are perhaps the banks who are the worst choice for any Indian blogger. They not only charge fees, but factually speaking, they add fees + service tax in it which is an absolute bizarre. They might be right in their banking rules but frankly speaking, one can’t afford this much of deduction unless the earning amount is huge. Even if it is huge, this type of deduction is not legitimate.