Sending money from abroad to a Shamrao Vithal Cooperative Bank account in India is straightforward when you use the right remittance platform. Here's everything you need to know about completing the transfer through ACE Money Transfer.

Quick Start: How to Send Money to Shamrao Vithal Cooperative Bank (SVC Bank) via ACE Money Transfer

NRIs and overseas Indians can send money to an SVC Bank account in India within minutes using ACE Money Transfer's online platform. Delivery times may vary and are not guaranteed. Transfers can be initiated from major corridors including the UK, Europe, Canada, and Australia, with payouts directly to SVC Bank and other cooperative bank partners across India.

Create an ACE Money Transfer account online or via the app using your email, Google, or Apple ID.

Choose India as your destination country and select "Bank Deposit" as the payout method.

Enter recipient details: full name as per bank records, SVC Bank branch name, the 11-digit IFSC code (format: SVCB0000XXX), and the bank account number.

Select your payment method - debit card, credit card, or online bank transfer.

Add a payment reason, review the exchange rate and fee, then click "Pay Now." Exchange rates fluctuate and the rate you receive may differ from any rates quoted. Always check the live rate at acemoneytransfer.com before sending.

Track your transaction in real time using the reference tracking number provided.

If the recipient does not hold an SVC Bank account, you can route funds to other Indian banks like Axis Bank or State Bank of India using the same process. Recipients in India typically receive funds directly into their SVC Bank savings or current account within minutes to a few banking hours, depending on time of day and compliance checks.

About Shamrao Vithal Cooperative Bank and Its Role in International Transfers

Shamrao Vithal Cooperative Bank, commonly known as SVC Bank, is a century-old Indian cooperative bank that supports inward remittances from abroad through regulated channels.

SVC Bank was established in 1906, making it over 119 years old. It is classified as a Multi-State Scheduled Co-operative Bank headquartered in Mumbai, with a strong presence across Maharashtra, Karnataka, and other regions.

As of 31 March 2026, SVC Bank operated 203 branches and 220 ATMs across 10 states and one union territory, reporting total business of ?43,693 crore and a net profit of ?205 crore.

SVC Bank (formerly registered with "Ltd" in its cooperative designation) serves retail, SME, and corporate customers with savings, current, and NRI bank account options across cities including Mumbai, Pune, and Bengaluru in Karnataka.

The bank does not typically offer a direct retail remittance app from every foreign country. Instead, it processes international transfers through a correspondent banking network and regulated remittance partners like ACE Money Transfer.

Foreign exchange services are centralized through designated authorized branches, with authorized foreign exchange branches operating in major cities like Mumbai, Pune, and Bengaluru. Inward remittances are credited via Indian payment rails such as NEFT, RTGS, or IMPS once funds arrive in India.

SVC Bank emphasizes security: the bank will never ask for OTPs, full card details, or internet banking passwords via email, WhatsApp, SMS, or social media. Share only your name, account number, and IFSC with senders.

How International Money Transfer to SVC Bank Works with ACE Money Transfer

ACE Money Transfer Limited is authorised and regulated by the UK Financial Conduct Authority (FCA) under the Payment Services Regulations 2017 to provide payment services (FRN 506692), as listed on the FCA Financial Services Register. It enables customers abroad to send money online to SVC Bank accounts in India, with fees and exchange rates shown before confirmation. International money transfers require routing through designated authorized foreign exchange branches, and ACE handles this process end-to-end.

Register or log in on ACE using email, Google, or Apple ID. Complete KYC verification with your government-issued ID and proof of address. You can download the ACE app or use the web platform.

Select India as the destination, choose "Bank Deposit," and specify the recipient's bank as Shamrao Vithal Cooperative Bank along with the branch and IFSC code.

Mandatory details include the beneficiary name (matching bank records exactly), account number, IFSC code, mobile number, and city. Accurate data avoids delays or reversals.

Pay using a debit card, credit card, or online bank transfer. Available options may vary slightly by sending country.

Review the live exchange rate and fee, add a payment purpose (family maintenance, tuition, medical expenses), and confirm. Wire transfers are typically dispatched via the SWIFT network when needed, though ACE settles most India payouts through domestic rails.

Track the transaction via your ACE reference tracking number. Payout is often instant to a few hours during Indian banking hours, with possible extra time for compliance review.

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Requirements, Fees, and Exchange Rates for Sending to SVC Bank

Before transferring to a Shamrao Vithal Cooperative Bank account, understand the documents, costs, and currency conversion involved.

Sender requirements: valid ID (passport or national ID), proof of residence, and a personal bank account or card. Documentation for outward remittances includes KYC verification and purpose-specific documents. Outward remittance applications must specify an explicit purpose code under RBI/FEMA guidelines, and documents required include PAN card and Form A2 for outward remittances under FEMA regulations.

Recipient requirements: an active SVC Bank savings or current bank account, correct IFSC and branch details, and sometimes PAN details for high-value transfers. To remit funds internationally, a valid resident or NRI account at SVC Bank is required. SVC Bank operates under the Foreign Exchange Management Act guidelines.

The Liberalized Remittance Scheme allows individuals to remit up to USD 250,000 per financial year from India.

ACE Money Transfer shows live INR exchange rates before payment. Exchange rates for conversions depend on the daily Forex Daily Rate Card. For example, a recent corridor rate showed 95.91 INR for 1 USD, with a transfer fee of 0.44 USD and a total transfer cost of approximately 10.87 USD. Rates and fees may vary. Visit acemoneytransfer.com for current rates.

Fees for international transfers may vary depending on the transaction type and applicable charges. ACE Money Transfer displays applicable transfer fees and exchange rates before customers confirm a transaction. Charges and exchange-rate policies vary by provider; customers can check the relevant provider’s terms before sending money.

Safety, Common Issues, and Alternatives for International Transfers to SVC Bank

Using licensed providers like ACE Money Transfer alongside regulated Indian banks such as Shamrao Vithal Cooperative Bank helps protect your money and data, giving you reason to trust the process.

Always initiate transfers from official ACE Money Transfer channels. Never share login credentials or OTPs. Verify recipient SVC Bank account details directly. Avoid third-party agents promising unrealistic exchange rates - and never scan a QR code from an unverified source claiming to process your remittance.

Common issues include transfers held for compliance review, incorrect bank account or IFSC leading to rejection, weekend or holiday delays in India, or sender-side card declines. ACE's support team can help track and resolve each of these.

If a transfer is delayed, check status in the ACE dashboard, confirm recipient details, contact ACE support with your reference number, and ask the recipient to check with their SVC Bank branch if needed.

If the recipient does not hold an SVC Bank account, use ACE to route funds to other Indian banks (Axis Bank, HDFC, SBI) or select cash pickup or mobile wallet options where available.

Choose your preferred payout method - bank deposit to SVC Bank, cash pickup, or mobile wallet - and consider ACE Money Transfer as a convenient online alternative to visiting physical remittance counters. Start your transfer today.

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.