If you've been searching for how to handle an Allahabad Bank international money transfer, the first thing you need to know is that Allahabad Bank was officially amalgamated into Indian Bank effective April 1, 2020. Every international money transfer that once routed through Allahabad Bank now operates through Indian Bank's systems. ACE Money Transfer provides online remittance services to supported destinations, with payout options depending on the corridor. Exchange rates fluctuate and the rate you receive may differ from any rates quoted. Always check the live rate at acemoneytransfer.com before sending.

Quick Answer: How to Send Money Internationally via Indian Bank (Formerly Allahabad Bank) & ACE Money Transfer

Allahabad Bank merged into Indian Bank in April 2020, so all international money transfers now route through Indian Bank. ACE Money Transfer provides online remittance services to supported destinations, including India, with payout options subject to availability. Transfer times and fees vary by destination and transaction. Rates and fees may vary. Visit acemoneytransfer.com for current rates.

Here's what you can do right now:

Send money from abroad to an Indian Bank (formerly Allahabad Bank) bank account using SWIFT codes, or

Send money from India overseas using Indian Bank's outward remittance services, or

Use ACE Money Transfer as a dedicated international money transfer platform to send money online from multiple countries to India and many other destinations.

Key transfer details:

The rest of this article breaks down required details (bank account numbers, SWIFT codes), exchange rates, transfer times, and step-by-step processes including the ACE Money Transfer flow.

About Allahabad Bank's Merger into Indian Bank & Impact on International Money Transfers

Allahabad Bank officially amalgamated with Indian Bank on 1 April 2020 under the Government of India's amalgamation notification. All banking operations, including international remittances, now run under the Indian Bank brand.

Existing Allahabad Bank customers had their accounts migrated to Indian Bank. Legacy IFSC codes starting with "ALLA" were disabled as of 1 July 2021 - all branch IFSC codes now begin with "IDIB". International wire transfers now operate through Indian Bank's SWIFT network, meaning senders abroad must use Indian Bank SWIFT codes rather than any legacy Allahabad Bank identifiers.

Here's what changed for international money transfers:

Inward remittances still credit to the customer's Indian Bank account

Outward remittances abroad are now branded as Indian Bank transfers

Senders abroad must use Indian Bank SWIFT codes, not legacy Allahabad Bank codes

When comparison tools or remittance partners reference "Indian Bank (formerly Allahabad Bank)," they mean the same combined international bank. Later sections cover specific SWIFT code usage and what to do if your local branch isn't listed.

Key Options to Send Money To and From Indian Bank (Formerly Allahabad Bank)

There are two broad routes for sending or receiving international money through Indian Bank:

Using Indian Bank's own international banking channels (SWIFT/wire transfers), and

Using ACE Money Transfer as a specialist money transfer provider that delivers to Indian Bank accounts and many other banks globally.

Main use cases:

Sending money to an Indian Bank account in India from overseas (salary, family maintenance, NRI remittances)

Transferring money from India to an international bank account abroad (education, medical, investments, emigration)

One off transfers vs regular monthly payments (rent, support, EMI)

How you initiate each:

At Indian Bank: visit the local branch, or use online banking if enabled for international payments

At ACE Money Transfer: send money online via website or mobile app, paying with debit card, credit card, or online bank transfer

Before choosing, compare exchange rates, transfer fees, and speed between bank wire transfers and ACE Money Transfer. The difference can significantly affect the final amount your recipient receives.

Understanding SWIFT Codes for Indian Bank (Formerly Allahabad Bank)

A SWIFT code (also called a BIC) is a unique identifier assigned to financial institutions worldwide. It's essential for every international bank transfer - without the correct SWIFT code, your funds cannot reach the recipient's bank.

Key points:

Each international bank branch may have its own SWIFT code

Some payments route via a central or head-office SWIFT code before being credited to the local branch

Indian Bank's head-office SWIFT code is IDIBINBBXXX (Chennai), and there are 146 branch SWIFT codes across 69 cities

How to find the right SWIFT code:

Via Indian Bank's official website

Via secure SWIFT/BIC search tools

By checking your bank statement or asking your local branch

If your local branch isn't listed:

Use the Indian Bank global head-office SWIFT code (IDIBINBBXXX) where permitted

Include the correct Indian Bank account number and IFSC code (payments to India may require an 11-digit IFSC code) to ensure proper credit

Always double-check the SWIFT code, bank name, branch city, and beneficiary name before you transfer money. Errors in these details cause delays, rejections, or extra fees from the intermediary bank or receiving bank.

How to Receive International Money into an Indian Bank (Formerly Allahabad Bank) Account

Receiving money from overseas into an Indian Bank account follows the same process as any international bank transfer, with some India-specific requirements.

Details the sender abroad typically needs:

Full name of account holder as per bank records

Complete Indian Bank account number

IFSC code for domestic routing (starts with "IDIB")

Relevant SWIFT code for Indian Bank (or central SWIFT if local branch not listed)

Bank's branch address and city in India

How the money flows:

Sender instructs their bank or money transfer provider abroad

Funds travel via SWIFT and correspondent banks

Indian Bank credits the beneficiary bank account in INR at prevailing exchange rates

Compare fees, exchange rates, and delivery times to find a transfer option that suits your needs. Costs and timing vary by provider and transaction. Inward remittance above USD 3,000 typically incurs a flat handling fee around ?550 (excluding GST). Receiving banks may charge fees for processing payments, and a foreign exchange markup applies when converting incoming transfers into Indian Rupees.

Transfers can take 1 to 5 working days depending on the sending country, currency, and number of intermediary banks involved. Transfers may be delayed by weekends or public holidays. Errors in the account number or SWIFT code can add several more days.

Send Money with ACE 

How to Send Money Overseas from an Indian Bank Account

Indian residents can send money abroad from their Indian Bank account under RBI's Liberalised Remittance Scheme (LRS). Residents of India can remit up to USD 250,000 yearly for eligible purposes including education, medical treatment, family maintenance, and investments.

Typical steps at Indian Bank:

Visit the local branch with valid KYC documents (PAN, Aadhaar/passport) and completed outward remittance application form (Form A2)

Specify the foreign currency, amount, and purpose of remittance

Provide recipient's international bank account details - account number, beneficiary bank name, SWIFT/BIC code, and bank address

Submit supporting documents based on purpose (admission letter for university fees, medical estimate, invoice)

Documentation such as PAN card and purpose code is mandatory for all remittances. International wire transfers require a PAN card and KYC proof without exception. Tax Collected at Source (TCS) applies to international remittances above specified thresholds.

Country-specific requirements to keep in mind:

Payments to Canada require an 8-digit Bank Transit Number

Mexican account numbers are 18 digits long and called a CLABE

Payments to Turkey must include a 26-digit IBAN

Outward international payment transfers are processed as SWIFT wire transfers. Outgoing remittance up to ?50,000 incurs a transaction fee of ?550 plus additional charges. Outgoing remittance above ?50,000 incurs a transaction fee of ?1,050 plus additional charges. Transfer times range from same day to 2–5 working days depending on destination country, cut-off times, and intermediary banks. Some countries and transactions may be restricted or require extra approvals from the RBI.

Using ACE Money Transfer with an Indian Bank: Online Remittance Options

ACE Money Transfer is an international money transfer platform that works alongside banks like Indian Bank, allowing users in supported sending countries to send money online to Indian Bank accounts and other payout methods across different countries.

How ACE complements bank transfers:

Specialises in cross-border remittance services. Exchange rates and fees vary by destination and transaction.

Offers near real-time deposits to major partner banks

Transfer fees and exchange rates vary by provider and transaction. Compare the total cost—including fees and any exchange rate margin—and estimated delivery time before choosing how to send money abroad.

Ideal scenarios for ACE Money Transfer:

Sending money to family in India regularly from the UK, Europe, Canada, or other corridor countries

Regular monthly family support payments

Urgent transfers where speed and rate matter more than going through a local branch

Recipients in India can receive funds directly into their Indian Bank account (formerly Allahabad Bank) via bank deposit, as well as into other banks or via cash pickup or mobile wallet where available. Same-day transfers are available through some services like ACE, depending on the corridor and payment method.

Senders pay ACE via debit card, credit card, or online bank transfer depending on their country - you don't need to be an Indian Bank customer yourself.

Step-by-Step: How the ACE Money Transfer Process Works

Here's exactly how the transfer process works when you use ACE Money Transfer to send money internationally:

1. Register or log in Create an account using your email, Google, or Apple ID. Complete KYC verification (identity document upload) before your first transfer - this is a one-time step for most users.

2. Choose your corridor and payout option Select your sending country and destination country (e.g., UK to India). Pick a payout option: bank deposit to an Indian Bank account, mobile wallet, or cash pickup if available in that corridor.

3. Enter the transfer amount Type the amount you want to send or the exact amount you want your recipient to receive. ACE displays real-time exchange rates and transfer fees so there are no surprises.

4. Add recipient details Enter accurate recipient details: full name, bank name (Indian Bank), bank account number, and IFSC code. For mobile wallets or other payout types, include wallet numbers as required. If the recipient is an existing payee, select them from your saved list.

5. Select your payment method Choose debit card, credit card, or online bank transfer depending on what's available in your country. Card payments typically post instantly, while bank transfers can take slightly longer to reach ACE. Apple Pay may also be supported in select regions.

6. Confirm and pay Add a payment reason (family maintenance, education support, etc.). Review all details - amount, exchange rate, fees, recipient data - then click "Pay Now."

7. Track your transfer Once submitted, ACE provides a reference tracking number. Monitor your transaction status in real time within your ACE account until the money is delivered to the recipient's bank account.

Payout Methods & Receiving Options with ACE Money Transfer

ACE Money Transfer supports multiple payout channels, giving flexibility well beyond a single bank transfer option.

Bank deposit: Direct credit to Indian Bank accounts and other major partner banks globally. Ideal when the recipient wants funds in their regular account for bills, tuition, or rent.

Cash pickup: Money can be collected over-the-counter at authorized partner bank branches or payout locations. Bring valid ID and the transaction reference number for pickup.

Mobile wallet: For corridors where this is enabled, funds are delivered to supported digital wallet accounts. Convenient for recipients who prefer to spend or withdraw via their phone.

Transfer delivery times vary by corridor, payment method, and transaction requirements. Some transfers may be completed within minutes, while. ACE surfaces estimated delivery time before the sender confirms, so you always know what to expect. Delivery depends on local banking hours and compliance checks.

Costs, Exchange Rates, and Fees: Bank vs ACE Money Transfer

The total cost of an international money transfer depends on explicit fees, exchange rate margins, and any charges from the receiving bank.

Indian Bank (formerly Allahabad Bank) transfers:

Cost components include outward remittance fee, correspondent bank charges, and currency conversion margin

SWIFT transfers can incur fees from intermediary or beneficiary banks - these may not be visible at the time of sending

Exchange rate margins on bank transfers vary by provider, currency, and transaction. Check the applicable rate and fees before sending.

Compare transfer fees, exchange rates, and delivery times to find an option that may suit your needs. Costs and timing vary by provider and transaction.

Some providers charge fixed fees or a percentage of the transfer amount

ACE Money Transfer:

Compare fees, exchange rates, and delivery times before transferring. Costs and timing vary by provider and transaction.

Exchange rates are shown live so customers know exactly how much the recipient's bank will receive in local currency

ACE Money Transfer offers international remittance services. Fees, exchange rates, delivery times, and promotional offers vary by destination and eligibility. Check acemoneytransfer.com for current rates and offer terms.

What to compare before you pay:

The effective exchange rate (not only the advertised "zero fee" slogan)

Total amount delivered to the recipient after all charges

Typical transfer times for each option

Payment method impact - sending via online bank transfer may carry low fees, while credit card funding can attract extra fees

Security, Compliance, and Best Practices When Transferring Money

Both Indian Bank and ACE Money Transfer operate under strict regulatory frameworks for international money transfers.

Bank-side security:

Indian Bank follows RBI and global banking standards including SWIFT security and multi-layer verification

Branch staff verify documents and purpose of international payment for outward remittances

Compliance with KYC guidelines is necessary for international transfers at every stage

HSBC requires a Digital Secure Key for online payments, illustrating how seriously financial institutions take authentication across the industry

ACE Money Transfer security and regulatory information:

ACE Money Transfer uses security measures designed to help protect transactions and customer information. Check its official security guidance for details.

ACE Money Transfer Limited is authorised and regulated by the UK Financial Conduct Authority (FCA) to provide payment services (FRN 506692). Verify its status on the FCA Register. This applies to the UK entity and its authorised activities; it does not establish the regulatory status of every ACE group entity or service.

Transfer availability depends on the sending country, payment method, destination, and required verification or compliance checks.

FCA authorisation does not mean that transfers are covered by the Financial Services Compensation Scheme (FSCS). Do not assume FSCS protection applies to money transfer services.

Banks and remittance providers have different supported destinations, fees, exchange rates, and delivery times. Check each provider’s current terms before transferring money.

User best practices:

Always double-check recipient bank account, SWIFT codes, and spelling of names

Avoid sharing OTPs, passwords, or online banking credentials with anyone

Send test amounts for first-time larger transfers when possible

If something goes wrong:

Contact ACE support or the local Indian Bank branch promptly with your transaction reference

Be prepared to provide ID and transfer details for investigations or recalls

Tips for Choosing the Right Method: When to Use Your Bank and When to Use ACE Money Transfer

The best method depends on purpose, urgency, amount, and whether you have access to online transfers.

Use Indian Bank's international bank transfer when:

You're making large-value business or investment transfers where direct bank-to-bank SWIFT is required

The transaction requires detailed documentation and direct coordination with bank officers

You're paying into an international bank account in less common currencies or jurisdictions not covered by retail remittance providers

Use ACE Money Transfer when:

You're sending money overseas or to India for family support on a regular basis

Speed matters - you need near real-time delivery without visiting a bank branch

You may be able to initiate international transfers online at any time using a supported debit card or online banking, subject to service availability, eligible destinations, payment-provider hours, and verification checks.

You want to see the exact amount your recipient will receive before confirming

Before every transfer:

Compare exchange rates and fees on the day of transfer

Check estimated delivery times - they vary depending on corridor and payment method

Consider convenience (online vs in-branch), higher limits needs, and supported corridors

If you need a fast, secure, and transparent way to remit money alongside your existing Indian Bank relationship. ACE Money Transfer provides international remittance services, with fees, exchange rates, and delivery times varying by transaction. Compare available options before sending. This is not financial or legal advice. Please consult a qualified professional.

Frequently Asked Questions About Allahabad Bank / Indian Bank International Money Transfers

Is Allahabad Bank still valid for receiving international money? No. Allahabad Bank no longer exists as a separate entity. It now operates as Indian Bank. To receive international payments, share your updated Indian Bank account number, IFSC code (starting with "IDIB"), and Indian Bank's SWIFT code with the sender. Using old "ALLA" codes will result in rejections.

Which SWIFT code should I use if my old Allahabad Bank branch isn't listed? Use Indian Bank's central head-office SWIFT code, IDIBINBBXXX, and include your full account number and branch IFSC code. This ensures proper routing to your local branch even if it doesn't have a dedicated SWIFT code.

Can I still receive remittances from abroad into my old Allahabad Bank account? Your account has been migrated to Indian Bank. Funds sent to the correct Indian Bank SWIFT code with your updated account details will credit normally. Contact your branch if you're unsure about your new account number or IFSC code.

How long do international bank transfers to Indian Bank accounts usually take? Typically 1–3 working days for most countries, though transfers can take up to 5 working days depending on the sending country, currency, and number of intermediary banks. Delays are common during public holidays or weekends. For amounts under USD 3,000, Indian Bank's straight-through processing can credit funds the same day in some cases.

Can I send money online without visiting a bank? Yes. With ACE Money Transfer, you can send money online from supported countries to India and most countries - no branch visit needed. Register, enter recipient details, choose a payment method like a demand draft alternative (card or bank transfer), and pay. You'll receive a tracking number to monitor your transaction until delivery. Indian residents who need to send money abroad under LRS (up to USD 250,000 per financial year) can also explore whether Indian Bank's online banking supports outward remittance, though branch visits remain common for documentation. Forex cards are another option some banks offer for travel-related spending abroad, though they serve a different purpose than wire transfers to other banks.

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.