KVB International Transfer: Your full guide

Aman Saxena

Karur Vysya Bank, or KVB for short, is over a hundred years old and is headquartered out of Karur in Tamil Nadu. It has over 782 branches across India in 20 states, and 3 union territories¹. And if you are interested in receiving money through an international transfer, you can do so with KVB. KVB also does offer even specific NRI services for non-resident Indians to send money to India. But if you are sending money abroad from India, it can be a lot more unclear about how to do so. So read on to learn how international transfers work with KVB.

And if you are looking for an easy and fast way to send money directly to local bank accounts in over 60 countries, take a look at Wise. Right from your phone or computer, you can make cheap transfers at the real exchange rate.

Compare exchange rates with Wise

Receive international funds with KVB

You can receive money from abroad into a local KVB account without any problems, especially if the money is sent through one of the bank’s partners. KVB has made it easy especially for NRIs to send money to their NRE/ NRO accounts.

KVB has partnered with a few providers to make transfers to a KVB account easy. You can receive money with KVB through:

  • SWIFT Remittance
  • Western Union
  • Remit2India
  • KVB Remit Home
  • Correspondent banks

KVB SWIFT Remittance

The SWIFT Remittance option can primarily be used for NRE/ FCNR accounts with money sent from the US, Europe, and England. SWIFT transfers are often the cheapest but take the most time.³

Western Union

KVB has also partnered with Reliance Money and Western Union- which means that Western Union transfers can be picked up from KVB counters. Even non-KVB banking clients can pick up cash sent by Western Union from a KVB branch.⁴

KVB Remit Home

KVB Remit Home is an online remittance portal through the bank that allows US residents to send money directly to a KVB account. With it, you can directly credit accounts in 225 branches of KVB in India and even possibly do doorstep delivery of a demand draft. But again it is only for people sending money from the US. Individual transactions are capped at $5,000 USD, with a maximum of $12,000 over 7 days. The transfer fee is between $3-9 depending on the amount, and the exchange rate is set by KVB itself.⁵


Remit2India is a third party service that has partnered with KVB which offers transfers from 24 countries to India. It has its own fees and exchange rates but can deliver funds to a KVB account.

Correspondent banks

The last way to receive money is through a correspondent bank. If you receive a demand draft of a foreign check and want to cash it in, you will be required to open an account with KVB first and furnish all the required documents.

Charges and fees to receive money with KVB

As a recipient of funds, you will not be charged to receive money. The sender will bore the costs for the transfer and/or it will be deducted from the amount sent depending on how it is done.

How much time does it take to receive money with KVB

The time it takes to show up in a KVB account will depend on how the money is being sent. SWIFT or Correspondent bank transfers can often take the longest by only being operational on business days and requiring 2-3 days for processing. More modern options such as digital or online money transfer providers, like Remit2India, can allow for faster transfers. Check with your sender on which method they chose to estimate the delivery time.

Want to get money fast to India? Take a look at Wise. Depending on the route and currency, you can have money deposited in a local Indian account in under an hour. With smart technology, Wise makes transfers, safe, fast, and cheap.

Send money abroad with KVB

Sending money abroad isn’t as clear cut with KVB. While there are multiple options to receive money, there is only one way of getting money out of your KVB account using KVB itself. And that is by doing a wire transfer at the bank branch.

It is best to go in person to your nearest KVB bank to inquire about the process for a wire transfer abroad. There is normally an A2 outward remittance form that is to be completed with appropriate ID to register a money transfer abroad or outward remittance. In addition, you will need to carry the necessary bank details and Sort/ SWIFT/ IBAN codes respective to the country you are sending the funds too.

Typically for wire transfers from India, you will have to pay a transfer fee, a SWIFT fee as well as a fee hidden away in the exchange rate.

The true cost of international transfers with KVB

Legacy banks like KVB have a history of trust with their customers, but they may not have adapted to today’s global banking trends. And that really rings true for when it comes to sending money overseas from India. Whether it’s to fund a niece’s education abroad, to have some money for holidays, or to buy a house outside of India, KVB may not be the best option.

There is no clear online process to transfer money abroad from your KVB account which means that you are highly likely to have to go physically down to a bank to get it started. And with today’s online money transfer services that can send money in minutes, this can seem expensive in terms of your time.

Now to costs. Normally for transfers abroad, there is a transfer fee that is set by the bank or provider. This fee is usually dependent on how much you are sending, how you are paying for it, where it is going, and how it is being delivered.

Without clear information or instructions online, it is hard to say exactly how much it may cost you to send money abroad with KVB. It isn’t possible to say the places that KVB can transfer to, without again going to the bank. There is also typically a SWIFT fee as well.

Lastly, the exchange rate is another place where a fee can be found. Most banks give you an exchange rate they set themselves that is lower than the mid-market rate. The mid-market rate is the rate that the banks use amongst themselves and is the same rate you see on Google. Banks, by making their rates lower than the mid-market, are able to take a cut of every Rupee converted. And sneak in a hidden fee to you.

Want to transfer money abroad in an easy, fast and cheap way while always getting the real mid-market exchange rate? Take a look at Wise.

A cheap, fast and transparent alternative: Wise


With one upfront fee and a transparent exchange rate, no wonder over 7 million people have chosen Wise for their global transfers. With Wise you don’t need to go to a bank. Instead, you can make transfers straight from your phone or computer at home. It is that easy.

All you need to do is sign up for a free Wise account, and you can start sending money to over 60 countries from India. And you will only pay one low fee on every transfer and the real mid-market exchange rate, which you will be fully informed of before you even start your transfer.

So keep your local bank for your domestic needs, but take a look at Wise whenever you need to send money abroad, or even for your friends and family that wants to send money to you. Sign up today and see how much you can save with Wise.

Sources used for this article:
  1. KVB bank
  2. Receiving money with KVB bank
  3. Swift Remittances
  4. Western Union Remittances
  5. KVB Remit Home

All sources checked as of 15 May, 2020

Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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