State Bank of India (SBI) Announces New Online Forex Platform

Cross-currency charge means the additional charge that will be levied in case you make transactions in a currency different from that you had initially asked for. For Example if you had chosen USD as your foreign currency and you end up doing a transaction in London in Euros then this charge will be levied.

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State Bank of India (SBI), the country’s largest lender, has rolled out a new Internet platform that allows customers to book foreign exchange transactions online. The platform called SBI e-forex allows customers to get foreign exchange rates without visiting the branch, customize and set their own limits for deal size, and daily transaction limits.

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