Send Money, Remit Money, Transfer Money to India_ SBI Global Link Services what is money laundering definition

Terms and conditions of the website

1. Definition and interpretations 1.1 STATE BANK OF INDIA state bank of india, hereinafter called bank, is a corporate body, constituted under state bank of india act, 1955 and having its central office at madame cama road, mumbai 400 021, india.(hereinafter called bank or SBI) 1.2 GLOBAL LINK SERVICES global link services’ is an office functioning under the international banking group of state bank of india, located at mumbai. This office handles foreign currency collections on behalf of branches of SBI in india and its offerings include web based remittances from US (selected states only), UK and middle east. (hereinafter called GLS) 1.3 THE WEBSITE state bank of india maintains the web-sites www.Statebankofindia.Com, www.Sbi.Co.In, www.Onlinesbi.Com and https://remit.Onlinesbi.Com (the site) to provide you with information about the bank’s services and products and to facilitate communication with the bank.What is money laundering definition

for the purpose of the remittance products offered by SBI through GLS, the visitors are requested to visit https://remit.Onlinesbi.Com, hereinafter called the website. 1.4 customer visitor who registers on the website and avails the products, services and facilities offered by SBI through GLS. 1.5 registered user any visitor who registers with the website but who may or may not have entered into any transactions in respect of the products, services and facilities offered on the website. The term registered user includes every customer. 1.6 registration number an alphanumeric unique reference number assigned to the customer at the time of registration. Registered user should quote this number for enquiries. 1.7 debit account number an account of the customer with a bank (in the country from which the remitter proposes to send money to india) from which the funds will be transmitted. 1.8 user ID login password user ID is a unique identification selected by the user.What is money laundering definition login password means the secret password defined by the user, at the time of registration. ‘user ID’ ‘login password’ together are required to:

• register the beneficiaries in india and their account numbers, register a change in address, change in details, payments, and make online applications,

• avail the remittance facilities of SBI GLS and enter into transactions in respect of the facility,

• track the remittance status in detail available post login and

• avail such other functions/ facilities as the website may provide and permit.

1.9 beneficiary the person/ persons in india registered by the customer to receive the remittances. 1.10 transaction reference number the unique alpha numeric reference number assigned by the system for every remittance instruction, and every proposed customer initiated payment submitted on the website. This number can be used to track the status of the remittance at any time on the website. 1.11 profile password profile password is an additional password apart from the login password.What is money laundering definition profile password is needed to access the user profile, beneficiary management or any other purposes deemed suitable as per bank’s discretion. 1.12 dynamic pass code dynamic pass code is a single use numeric code which is sent on registered user’s registered e-mail ID as well as registered mobile number for out of band authentication for sensitive activities such as profile changes, beneficiary registration as per bank’s discretion. 1.13 standing instructions users can set recurring transactions under ‘standing instructions’ facility. The system will execute the given instruction for funds transfer and also alert the user as per the alert time period set by the user. 2. Remittance facility – SBI EXPRESS REMIT US 2.1

Notwithstanding anything contained herein, where the bank has reason to believe that any transaction, have been fraudulently made (hereinafter referred to as a “suspect transaction”), bank shall be entitled to withhold the funds pertaining to such suspect transaction in accordance with regulatory laws relating to money laundering etc.What is money laundering definition if the bank determines after due enquiry and investigation that the transaction is a valid transaction and not a suspect transaction, the bank shall release such withheld funds. 6. THE PROCESS(common for all facilities offered by bank through GLS)

The process involves the following steps:

• registration of the user on the website. Registration is a onetime activity which requires user to provide his/ her particulars, set login

Credentials to login to the site and register the debit account from where user plans to send remittances.

• registration approval by SBI GLS after proper verifications and validations.

• registration of the beneficiaries on the website post login.

• initiation of funds transfers requests.

• processing of remittance instructions by GLS after due regulatory checks.

• affording credit to the beneficiary either by way of direct credit, RTGS, or NEFT.What is money laundering definition

7. The terms and conditions

Terms and conditions set out for the customers of the site to read understand and accept the terms and conditions laid by SBI. 7.1

The bank accepts no liability whatsoever, direct or indirect for non-compliance with the laws of any country other than that of india. The website, the terms and conditions, all transactions entered into on or through the website and the relationship between the registered user and the bank shall be governed by and construed in accordance with the laws of india (applicable laws) and no other nation. The registered user and the bank agree that all claims, differences and disputes arising under or in connection with or pursuant to the website, the terms and conditions, any transactions entered into on or through the website or the relationship between the registered user and the bank shall be subject to the exclusive jurisdiction of the competent courts located in the city of mumbai, maharashtra, india and the registered user hereby concedes, accede to, and accepts the exclusive jurisdiction of such courts.What is money laundering definition provided that, notwithstanding what is stated above, if the bank so thinks fit the bank may institute proceedings against the registered user in any other court or tribunal which the bank consider proper and competent. 7.21