Nainital Bank is a scheduled commercial bank under the Reserve Bank of India, headquartered in the hill town of Nainital, Uttarakhand. It operates branches across Uttarakhand, Uttar Pradesh, Delhi, Rajasthan, and Haryana. Customers with accounts at any of these branches use a different process to send or receive money internationally than for a routine NEFT or RTGS domestic transfer.

This guide covers international money transfers involving Nainital Bank accounts: how NRIs and overseas senders can deposit funds into a Nainital Bank account from abroad, how ACE Money Transfer works as a remittance channel for those transfers, and how Indian residents with Nainital Bank accounts can send money overseas under RBI rules.

Introduction to Nainital Bank International Transfers

International remittances to or from a Nainital Bank account follow a two-stage path. Inbound transfers from abroad arrive in India via SWIFT messaging through one or more correspondent banks. Once the funds reach an authorised foreign-exchange bank in India, the domestic leg kicks in: NEFT, RTGS, or IMPS routes the converted INR amount to the specific Nainital Bank branch using its IFSC code. Outbound transfers reverse this flow, with funds moving from the Nainital Bank account to an authorised dealer bank that then executes the SWIFT transfer abroad.

The IFSC code is what makes the domestic leg work. Each Nainital Bank branch has an 11-character Indian Financial System Code: the first four letters are NTBL (the bank's code), the fifth character is always 0, and the last six characters identify the specific branch. For the international leg, the SWIFT/BIC code of either Nainital Bank or its correspondent bank tells the foreign sender's bank where to route the wire. Together, these two codes form the complete address for any cross-border transfer into a Nainital Bank account.

The most common reasons people send money to Nainital Bank accounts from overseas:

Family maintenance: NRIs sending monthly support to parents or dependents in Uttarakhand, UP, or Delhi

Education fees: payments for tuition, coaching, or exam costs routed through a guardian's account

Property transactions: rent, maintenance, or purchase-related payments on Indian real estate

Small business trade: importers or exporters settling invoices through their Nainital Bank current accounts

How to Receive International Money in a Nainital Bank Account

Customers can receive foreign currency from the USA, UK, EU, GCC countries, Canada, Australia, and other regions into their Nainital Bank savings or current accounts. The funds are processed through correspondent banks or licensed remittance platforms before reaching the final branch.

What the sender abroad needs to provide

The person sending money from overseas must collect the following details from the Nainital Bank account holder:

Beneficiary name exactly as it appears on the bank account (mismatches cause rejections)

Account number (savings or current)

Branch name and address

IFSC code of the Nainital Bank branch (11 characters, format: NTBL0XXXXXX)

SWIFT/BIC code of Nainital Bank or its Indian correspondent bank handling the foreign leg

Purpose of remittance (required by most sending-country regulations)

A sender in the US or UK can use their own bank's international wire transfer option, select India as the destination, and enter these beneficiary details. Charges, exchange rate margins, and delivery speed vary by sending bank and corridor.

Sample IFSC codes for Nainital Bank branches

You can verify any branch IFSC code on Nainital Bank's official branch locator page or on the RBI's published list of bank codes.

Typical credit timeline

Once the sender's bank initiates a SWIFT wire, funds typically reach India and get credited to the Nainital Bank account within 1 to 3 working days. Rates and fees may vary. Visit acemoneytransfer.com for current rates. Delays happen when intermediary banks are involved, weekends or holidays fall in either country, or documentation is missing or beneficiary details don't match. After the funds arrive at the authorised forex bank in India, internal routing to the final Nainital Bank branch via NEFT or RTGS depends on the day's cut-off times.

Fees and exchange rates

If the sender chooses the "OUR" option (sender bears all fees), the beneficiary should receive the full converted amount without further deductions.

Regulatory framework

International remittances into India fall under the Foreign Exchange Management Act, 1999 (FEMA). The RBI's Master Direction on Other Remittance Facilities governs what types of inward remittances are permissible. Common approved categories include maintenance of close relatives, education, gifts, and income earned overseas. A 2009 RBI circular (Notification No. DPSS.CO.No.1102/04.04.002/2009-10) instructed banks to verify that credits into NRE accounts via RTGS/NEFT/ECS qualify as eligible inward remittances under FEMA rules.

Using ACE Money Transfer to Send Money to Nainital Bank

For NRIs and overseas Indians who want to skip the traditional bank wire process, ACE Money Transfer offers a digital alternative with competitive exchange rates and flat fees. Exchange rates fluctuate, and the rate you receive may differ from any rates quoted. Always check the live rate at acemoneytransfer.com before sending. ACE is regulated in its sending markets; in the UK, it holds FCA authorisation as a Payment Institution (FRN 506692), and it holds customer funds in safeguarded accounts until the transfer is delivered.

The process for sending money to a Nainital Bank account through ACE works as follows:

Register or log in to ACE Money Transfer using your email, Google, or Apple ID.

Choose India as the destination country, then select bank deposit as the payout method.

Enter the recipient's full name, Nainital Bank account number, and precise IFSC code (for example, NTBL0HAL003 for the Haldwani branch).

Select a payment method: debit card, credit card, or online bank transfer.

Add the purpose of the remittance (family maintenance, education fees, etc.), if required.

Confirm the transfer details and click "Pay Now."

Track the transaction in real time using the ACE reference tracking number.

Transfer times: Bank deposit payouts to India via ACE typically arrive within 1 to 2 business days. During banking hours, processing can be faster for some corridors. Weekends and public holidays in either the sending country or India can add a day. Rates and fees may vary. Visit acemoneytransfer.com for current rates.

Fees: Sending from GBP to INR via bank deposit costs about £1.99 per transaction, with an exchange-rate margin of 0.1% to 1.5% above the mid-market rate. From Australia, the fee is AUD 1.99 per transaction with a similar forex spread. Rates and fees may vary. Visit acemoneytransfer.com for current rates.

Other payout methods ACE supports:

Cash pickup: over-the-counter collection at authorised partner bank branches

Mobile wallet: instant crediting to supported digital wallet accounts

UPI: available in some corridors for India

When the beneficiary holds a Nainital Bank account, bank deposit is the most convenient and traceable option because the funds land directly in the account.

A real-world example: An NRI living in London sends £500 each month to a parent's Nainital Bank savings account in Haldwani. They use ACE Money Transfer, enter IFSC code NTBL0HAL003, pay via debit card, and the money arrives in the parent's account within 1 to 2 business days. The total cost per transfer is approximately £1.99, plus an exchange rate margin. The applicable transfer fee and exchange rate are shown before you confirm your transaction. You can review ACE Money Transfer UK's terms and conditions for information on fees and exchange rates.

ACE requires standard KYC documentation: a photo ID (passport, national ID) and proof of address. For larger transfers, source-of-funds documentation such as a recent bank statement or employment proof may be requested.

How to Send Money Abroad From a Nainital Bank Relationship

Indian residents can send money overseas under the RBI's Liberalised Remittance Scheme (LRS). Under the RBI’s Liberalised Remittance Scheme (LRS), resident individuals can remit up to USD 250,000 per financial year (April to March) for permitted current or capital account transactions, subject to applicable rules and exceptions. These may include overseas education, travel, medical treatment, investments, gifts and donations. Read the RBI’s Master Direction on LRS for the applicable conditions and restrictions. This limit is per individual per financial year and does not require specific RBI permission as long as the purpose qualifies.

What an Indian resident needs to send money overseas

The domestic transfer from a Nainital Bank account to the chosen AD bank or remittance partner uses RTGS, NEFT, or IMPS. You need the exact IFSC code of the AD bank's branch to initiate this leg. For instance, if routing through a State Bank branch in Delhi, you would use that branch's IFSC code for the NEFT transfer.

Timeline and cost comparison

Outward remittances through Indian banks generally take 1 to 3 business days. The total cost includes the Indian bank's outward remittance fee, intermediary/correspondent bank charges, the overseas receiving bank's fee, exchange rate margin, and applicable GST. For supported transfer routes, ACE Money Transfer displays the applicable fees, exchange rate and estimated delivery time before you confirm your transfer.

Practical tips for outward transfers

Double-check the beneficiary's SWIFT/BIC code and bank address; a single wrong character can bounce or delay the transfer.

Keep copies of the A2 form, SWIFT confirmation message, and transaction receipts. Indian banks and tax authorities may request these during assessments.

Ask upfront whether the transfer is set to "OUR" (you pay all fees), "SHA" (fees split), or "BEN" (recipient pays). This affects how much the beneficiary actually receives.

For large sums, transfer timing matters: INR exchange rates fluctuate throughout the day, and locking in a rate early in the morning (when Indian forex markets open) can differ from end-of-day rates.

Always verify IFSC and SWIFT codes from official sources (the bank's website or RBI's published directories) before confirming any transaction.

Check the latest Reserve Bank of India (RBI) notifications and applicable FEMA regulations before initiating a transfer, as requirements may vary depending on the type of transaction and account involved. For example, the Foreign Exchange Management (Deposit) (Sixth Amendment) Regulations, 2026, dated 18 June 2026, amended provisions relating to deposit accounts, including NRE, NRO and SNRR accounts.

Send Money with ACE 

Key Takeaways

International money transfers to a Nainital Bank account follow a two-stage path: SWIFT/correspondent bank for the foreign leg, then NEFT/RTGS/IMPS using the branch IFSC code for the domestic leg.

Senders abroad need the exact beneficiary name, account number, IFSC code (format NTBL0XXXXXX), and the correspondent bank's SWIFT/BIC code.

ACE Money Transfer provides a regulated, low-cost channel for NRIs to deposit funds directly into Nainital Bank accounts, with fees starting at approximately £1.99 per transfer from the UK.

Nainital Bank customers sending money abroad should route transfers through an AD-I bank or licensed remittance partner, and all outward remittances are subject to the RBI's USD 250,000 per year LRS limit.

Verify every code, keep every receipt, and confirm total charges before clicking "Pay Now" on any transfer.

Disclaimer: This article is intended for general informational and educational purposes only and should not be construed as legal, regulatory, tax, business, or financial advice. While reasonable efforts have been made to ensure that all facts, figures, and data are accurate and valid as of the date of publication, no warranty or guarantee is given as to the ongoing completeness, accuracy, or currency of the information.

The content is based on information available at the time of publication. Regulations, government policies, market conditions, and service offerings may change over time and vary across jurisdictions and providers. As a result, some information may no longer be current or applicable. Readers should independently verify all information and consult qualified professional advisors before making any financial, legal, or business decisions.