Sending money abroad has never been easier with Bank Muscat international transfer services. Whether you’re a student paying tuition fees, a professional supporting family overseas, or a business handling global payments, Bank Muscat offers reliable and efficient solutions. With a presence in nearly 200 countries via the SWIFT network, competitive fees, and user-friendly digital platforms, Bank Muscat ensures seamless cross-border transactions.
This guide covers everything you need to know about Bank Muscat international transfer services, including features, fees, processing times, and step-by-step instructions. Let’s get started without further ado!
Table of contents
- Why Choose Bank Muscat for International Transfers?
- Types of Bank Muscat International Transfers
- How to Make a Bank Muscat International Transfer?
- Processing Times for Bank Muscat International Transfers
- Currencies Supported by Bank Muscat International Transfer
- What Are the Fees of Bank Muscat International Transfer?
- Transfer Limits with Bank Muscat
- FAQs
Why Choose Bank Muscat for International Transfers?
Among the list of International Money Transfer companies, Bank Muscat stands out as a trusted financial institution in Oman, offering robust international transfer services tailored to diverse needs. Its extensive global network, secure SWIFT wire transfer, and multiple channels, including Internet Banking, mBanking App, BM Remit App, and branches, make Bank Muscat international transfers a top choice for individuals and businesses.
Here we explore the key features and features of using Bank Muscat for your international money transfers.
Key Features of Bank Muscat for International Transfers
Bank Muscat international money transfer services are designed for convenience, affordability, and security. Here’s why customers choose Bank Muscat:
- Competitive Fees: Affordable transaction charges, such as OMR 1.5 for normal transfers and OMR 2 for immediate Speed Transfers to India.
- Global Reach: Access to nearly 200 countries through the SWIFT network ensures reliable transfers worldwide.
- Multiple Channels: Initiate transfers via Internet Banking, mBanking App, BM Remit App, or at any Bank Muscat branch.
- Wide Currency Support: Transfer funds in 23 major currencies, including USD, EUR, GBP, INR, and AED.
- Fast Processing: Instant credits for Speed Transfers to countries like India and Pakistan, and up to 3 days for SWIFT transfers.
- Flexible Beneficiary Management: Easily add or modify beneficiary details (subject to restrictions).
Who Can Use These Services?
Bank Muscat’s services cater to:
- Students: Pay tuition or living expenses abroad securely.
- Expatriates: Send money to family in countries like India, Pakistan, or the Philippines.
- Businesses: Handle supplier payments or international transactions efficiently.
Also Read: Chase Bank Currency Exchange: Features, Charges, Process
Types of Bank Muscat International Transfers
Bank Muscat offers two main types of international transfers to suit different needs: Speed Transfers for instant remittances to select countries and Standard International Transfers for global transactions. Let’s break down each option of Bank Muscat International Transfer to help you choose the right one.
Speed Transfer Services
Speed Transfers are an ideal type of Bank Muscat International Transfer for urgent remittances to select Asian and African countries, offering instant or near-instant crediting. These transfers are perfect for time-sensitive payments like medical expenses or family support.
Features of Speed Transfers
- Instant or same-day crediting to beneficiary accounts in countries like India, Pakistan, Bangladesh, Sri Lanka, Egypt, and the Philippines.
- Competitive exchange rates are updated daily.
- Transparent fees: OMR 1.5 for normal transfers, OMR 2 for immediate transfers to India.
- Supported currencies: INR, PKR, BDT, LKR, EGP, PHP.
How to Use Speed Transfers
Access Speed Transfers via:
- Internet Banking
- mBanking App
- BM Remit App
Speed Transfer to India
Bank Muscat’s Speed Transfer to India is particularly popular due to its speed and affordability. Key details include:
- Immediate Transfer (IMPS):
- Uses India’s Immediate Payment Service (IMPS) for 24/7 transfers, including holidays.
- Transaction limit: INR 200,000 per transfer.
- Fee: OMR 2 per transaction.
- Normal Transfer (NEFT/RTGS):
- Credited within a few hours on working days.
- Transaction limits: OMR 10,000 (Internet Banking), OMR 2,500 (Mobile Banking).
- Fee: OMR 1.5 per transaction.
Standard International Transfers
Standard International Transfers are designed for secure global remittances to nearly 200 countries. These types of Bank Muscat International Transfer use the SWIFT network and are suitable for larger transactions or destinations not covered by Speed Transfers.
Features of Standard International Transfers
- Secure transfers via SWIFT Code (BMUSOMRXXXX) and IBAN.
- Processing time: Up to 3 working days, depending on the destination.
- Supports 23 currencies, including USD, EUR, GBP, JPY, and AED.
- Flexible channels: Branches, Internet Banking, or mBanking App.
Receiving International Transfers
To receive funds in a Bank Muscat account:
- Provide the SWIFT Code: BMUSOMRXXXX.
- Share your unique IBAN, available via mBanking or Internet Banking.
How to Make a Bank Muscat International Transfer?
Initiating a Bank Muscat international transfer with Bank Muscat is straightforward, whether you use digital platforms or visit a branch. Follow these steps to send money abroad using Internet Banking or the mBanking App.
- Log In: Access Internet Banking or the mBanking App using your user ID and password.
- Navigate to Transfers: Click on the “Transfers” tab and select “International Funds Transfer.”
- Add Beneficiary:
- Choose “Add Beneficiary.”
- Enter the beneficiary’s name, nickname, account number, and SWIFT Code.
- Select the destination country and currency.
- Click “Get Bank Details” to verify the recipient’s bank.
- Confirm details and enter the OTP sent to your registered mobile.
- Note: Beneficiary activation takes approximately 30 minutes.
- Initiate Transfer:
- Select the account to debit.
- Choose frequency (one-time or recurring) and transaction date.
- Enter the transfer amount and currency.
- Specify the purpose of the transaction.
- Confirm details and enter the OTP to complete the transfer.
Tips for a Smooth Transfer
- Double-check the SWIFT Code and IBAN to avoid delays.
- Ensure sufficient funds in your account to cover fees.
- Initiate transfers before 2:00 PM GST for same-day processing of non-Eastern currencies.
Processing Times for Bank Muscat International Transfers
Processing times for Bank Muscat international transfers vary based on the transfer type, currency, and destination. Below is a detailed breakdown to help you plan your transfers.
| Currency Type | Processing Time |
|---|---|
| Eastern Currencies (AUD, NZD, JPY, SGD, HKD) | By the next business day. |
| Non-Eastern Currencies (USD, EUR, GBP, INR, etc.) | Same business day if initiated before 2:00 PM GST; next working day if after 2:00 PM GST. |
| Speed Transfers (India, Pakistan, etc.) | Instant or same-day crediting for eligible countries. |
Currencies Supported by Bank Muscat International Transfer
Bank Muscat international transfer supports money transfers in 23 major currencies, ensuring flexibility for global transactions. These include:
- USD (US Dollar)
- EUR (Euro)
- GBP (British Pound Sterling)
- INR (Indian Rupee)
- AED (Emirati Dirham)
- JPY (Japanese Yen)
- AUD (Australian Dollar)
- CAD (Canadian Dollar)
- CHF (Swiss Franc)
- CNY (Chinese Yuan Renminbi)
- HKD (Hong Kong Dollar)
- BHD (Bahraini Dinar)
- JOD (Jordanian Dinar)
- KWD (Kuwaiti Dinar)
- LKR (Sri Lankan Rupee)
- NOK (Norwegian Krone)
- NZD (New Zealand Dollar)
- PKR (Pakistani Rupee)
- QAR (Qatari Rial)
- SAR (Saudi Rial)
- SGD (Singapore Dollar)
- THB (Thai Baht)
- ZAR (South African Rand)
What Are the Fees of Bank Muscat International Transfer?
Bank Muscat maintains transparent pricing for international transfers. Below is a detailed fee structure related to the Bank Muscat international transfer to help you budget effectively.
| Charge Type | Details | Fee (OMR) |
|---|---|---|
| Speed Transfer (India, Pakistan, etc.) | Normal transfer (NEFT/RTGS) | 1.5 |
| Immediate transfer (IMPS to India) | 2.0 | |
| Standard International Transfer | SHA (shared charges) | 30.0 |
| Inquiries/Amendment/Cancellation | Per request | 20.0 |
| Inward Transfer (VOSTRO/NOSTRO) | Bank Muscat customers | Free |
| Non-Bank Muscat to local banks | 5.0 | |
| Non-Bank Muscat to international banks | 10.0 |
Fee Notes
- Fees can be borne by the sender (OUR), receiver, or shared (SHA).
- Exchange rates are competitive and updated daily; check rates before transferring.
- Speed Transfers via the BM Remit App to India, Pakistan, or Bangladesh cost INR 20 (approx. OMR).
Also Read: Canara Bank International Transfer: How It Works & Charges
Transfer Limits with Bank Muscat
Bank Muscat imposes transaction limits to ensure security and compliance:
- Speed Transfer to India: INR 200,000 per transaction.
- Standard Transfers: OMR 2,000 per transaction (Internet/Mobile Banking).
- Normal Transfers to India: The domestic wire transfer costs OMR 10,499 (Internet Banking), and OMR 2,500 (Mobile Banking).
Bank Muscat for international transfers makes sending money abroad fast, secure, and affordable. Whether you need instant Speed Transfers to India or SWIFT transfers worldwide, Bank Muscat delivers with low fees, easy apps, and 23 currency options. Perfect for students, expats, and businesses in Oman, you can start your transfer today via Internet Banking, mBanking, or a branch. Send money with confidence!
FAQs
You can transfer INR 2,00,000 from Bank Muscat to India through the Speed Transfer service of this Oman-based financial institution. You can send money via the Immediate Transfer or Normal Transfer feature of the bank.
There are two types of Bank Muscat international transfers:
– Speed Transfers
– International Transfers
The Bank Muscat sends overseas transfers via the SWIFT international transfer network.
Yes. You must have an active bank account with Bank Muscat in order to make an international money transfer.
For SWIFT transactions, international transfers from Bank Muscat are typically credited within 3 working days. For Speed Transfers, the processing time varies depending on the destination country. For example, Speed Transfers provides instant credit to accounts in India, Pakistan, Sri Lanka, and the Philippines.
Immediate transfers to India are available 24/7, even on bank holidays, using IMPS (Immediate Payment Service). NEFT and RTGS transactions take a few hours. Other options include internet/mobile banking (1-2 days), money transfer operators (1-3 days), agents (cash immediately or 1-2 days), foreign currency demand drafts (up to 3 working days), and SWIFT transfers (1-5 days)
Bank Muscat charges the following fees for international transfers:
– For Speed Transfers to India, Bank Muscat charges OMR 2 for immediate transfers and OMR 1.5 for normal transfers.
– Fees for international transfers through internet/mobile banking from Oman to India range from 1.73 – 3.22 OMR.
Bank Muscat allows international transfers of up to OMR 2,000 per transaction when using Internet Banking or Mobile Banking. For Speed Transfers to India, the transaction limit is INR 200,000. For normal transfers to India, the limit is OMR 10,000 through Internet Banking and OMR 2,500 through Mobile Banking.
The SWIFT Code for receiving funds to a Bank Muscat account is BMUSOMRXXXX
For Speed Transfers to India, Bank Muscat charges OMR 2 on each immediate transfer transaction. For normal transfers, the sender pays OMR 1.5 per transaction.
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