Bahrain India International Exchange Co (BIIECO), provides a host of money remittance products to its customers.
| CASH in seconds |
Through its arrangement with WESTERN UNION,
BIIECO provides instant cash payments at over 250000
agent locations all over the world. The facility is available
at a nominal fee of USD.7/- to India, Sri Lanka, Nepal and
Bangladesh
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| DEMAND DRAFT |
BIIECO issues drafts / TT's on the following Banks in India
payable at nook and corner of India. This ensures not
only immediate credits to the beneficiaries’ accounts
but also avoids deduction of collection charges. The
facility is available at 0.500 fils per draft /BD.1/- per TT.
STATE BANK OF INDIA
STATE BANKOF TRAVANCORE
STATE BANK OF MYSORE
STATE BANKOF BIKANER & JAIPUR
STATE BANK OF HYDERABAD
CANARA BANK
CENTRAL BANK OF INDIA
INDIAN BANK
INDIAN OVERSEAS BANK
FEDERAL BANK
AXIS BANK
ICICI BANK
HDFC BANK
KOTAK MAHINDRA BANK
SOUTH INDIAN BANK
BANK OF BAHRAIN AND KUWAIT (INDIA)
Drafts are also issued on the following banks in
other currencies:
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| Name of Bank |
Currency |
| State Bank of India, London |
Sterling Pound |
| State Bank of India, Frankfurt |
Euro |
| National Commercial Bank |
Saudi Riyal |
| National Bank of Egypt |
Egyptian Pound |
| Bangladesh Krishi Bank |
Bangla Taka |
| Pubali Bank |
Bangla Taka |
| Peoples Bank |
Srilankan Rupee |
| Nepal SBI Bank, Nepal |
US Dollar |
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| DOOR TO DOOR : REMITTANCE |
BIIECO offers Door-to-Door remittances to India, Bangladesh and Sri Lanka at a nominal fee of BD.1/- Under this facility, Demand Drafts are delivered in India within 24 hrs to 10 days (depending on the place and connectivity to that place in India). Customers are urged to provide complete address of the beneficiaries including telephone numbers to ensure prompt delivery.
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| BANK TO BANK : REMITTANCE |
BIIECO offers Bank-to-Bank remittance facility to India at a nominal fee of BD.1/- The service
is available to any bank in India, including foreign
banks, public sector banks, private sector banks and
co-operative banks. Under the facility, funds are
credited to beneficiaries’ banks accounts directly.
Customers are urged to provide correct name of
beneficiary, account number, bank and branch to
ensure prompt credit.
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| WIRE TRANSFERS: |
BIIECO offers wire transfers to India, USA, UK all GCC countries and Middle East payable within 24 hours
India:
SBIEXPRESS facility to more than 12700 branches of
State Bank of India online
MONEYTRANS SBT online facility to all the branches of
State Bank of Travancore
SBHEXPRESS facility to all branches of
State Bank of Hyderabad within 24 hrs
SBBJEXPRESS facility to all branches of
State Bank of Bikaner & Jaipur within 24 hrs
SIB EXPRESS facility to all branches of
South Indian Bank online
FEDFAST online facility to all branch of
Federal Bank
Electronic Funds Transfer facility to all the branches of Indian Overseas Bank online
Online Transfer facility to all branches of AXIS
Bank in India
Online Transfer facility to all branches of KOTAK
MAHINDRA Bank in India
Speed Transfer facility to all branches of ICICI
Bank in India payable within 24 hours
Speed Transfer facility to all branches of HDFC
Bank in India payable within 24 hours
Online Transfer facility to Indian branches
of Bank of Bahrain and Kuwait
INDIAREMIT, electronic funds transfer facility to
select branches of over 30 banks in India payable within
24 to 48 hours (2 working days)
GCC countries:
Wire transfer facility for cash payments and credit to Bank
accounts is available through the following correspondent
institutions: The charges are BD.2.500 for cash payments
and BD.3/- for credit to bank accounts.
UAE Dirham
Emirates India International Exchange, UAE
Omani Riyal
Mustafa Sultan Exchange, Oman
Qatari Riyal
Al Mana Exchange, Qatar
Saudi Riyal
National Commercial Bank, KSA
Kuwaiti Dinar
Kuwait India International Exchange, Kuwait
USA
Wire Transfer to any bank account anywhere in
the USA at highly competitive rates and at a fee
of BD.6/- per transfer. Funds are credited within
24 hours. Customers are urged to provide the Bank’s
ABA routing code, Fedwire No or SWIFT code
to ensure prompt credits.
PHILIPPINES
Online Money Transfer to any bank account and
Door to Door cash delivery anywhere in
Philippines at highly competitive rates and at a fee
of BD.2/- per transfer through the vast network
of I-Remit and Banco De Oro (BDO).
NEPAL
Online Money Transfer to any bank account and
Door to Door cash delivery anywhere in
Nepal at highly competitive rates and at a fee
of BD.1/- and BD.1.500 respectively per transfer
through the vast network Nepal Money Remit and
Kist Bank.
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| Currency Exchange |
BIIECO offers exchange of all major currency notes
at competitive rates.
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| Gold and Silver |
Precious Metals in the form of Bars/Biscuits in 24 Ct
are sold at highly competitive rates.
Gold biscuits of 5 Gms, 10 gms, 1 Tola, 20 Gms,
1 Ounze, 50 gms, 10 Tola and 1 Kg are available.
Silver bars of 1 Kg is also available
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Statutory Requirement:
As per regulations of the Kingdom of Bahrain, all new customers using the services of Bahrain India International Exchange Co. are required to produce acceptable identification viz. Passport, CPR card, Driving Licence, Commercial Registration certificate. Individual customers transacting remittances in excess of BD.5000 are required to produce copy of any of the above documents and corporate Customers, copy of their commercial registration.
Limitation:
BIIECO staff will execute remittances with utmost care. Customers understand that should any remittance through no fault of BIIECO be unpaid, they can only reclaim the value thereof at the buying rate of the day when the refund takes place. The refund cannot be effected until they return the remittance instrument and BIIECO has received definite advice(s) from its correspondents that the original remittance remains unpaid. Customers release and indemnify BIIECO and its correspondents from and against the consequences of any irregularity, delay, istake, telegraphic error, omission or misinterpretation that may arise and from and against any loss that may be incurred through BIIECO’s correspondents failing properly to identify the person(s) named in the remittance instructions or retaining the funds should BIIECO or its correspondents deem such retention expedient pending confirmation of the identity of any person or of the above instructions by a letter or otherwise. It is also understood by the customers that BIIECO as issuers are not liable if for reasons beyond their control, authorities in drawee country block, sequester or otherwise freeze funds.
Customer Card:
BIIECO customers are issued free card for their transactions. This can be presented at any of the 6 branches situated in Manama, Al Zubarah (Gudebiya), Hamad Town, Muharraq, Riffa and Salmabad.
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