Terms & Condition for International Money Transfer:

Bank of Baroda ABN 48 125 314 249 is situated at Suites 701-702, Level 7, 265 Castlereagh Street, Sydney NSW 2000 and is a registered company in Australia.

By continued use of this service You will be bound by any further or revised terms and conditions published from time to time on the website

These terms and conditions apply to and govern all money transfers and associated services between You and BANK OF BARODA.

BANK OF BARODA does not provide any advice on exchange rate or the money transfer or the suitability of using its services.

To send money transfer:

  • You must complete BANK OF BARODA international money transfer application, duly sign it and present it, along with certified copy of KYC documents to Bank of Baroda's office or send it by fax/email, followed by hard copy of the same by post.
  • You must provide suitable identification and verification requirements as required by BANK OF BARODA.
  • BANK OF BARODA must receive the amount set out under "Total Amount (in figure) Received (AU$)" under the Remittance Details in the International Money Transfer Application in cleared funds, before close of business hours on the day, the remittance request is initiated.

The payment method details are set out in the International Money Transfer Application.

Money transfer can be sent or received by the office of Bank of Baroda within the business hours.  At present the business hours of Bank of Baroda are from 9.30 am to 4.30 pm Monday to Friday.

Use of Correspondent

BANK OF BARODA may use the services of another bank or agency or another branch of Bank of Baroda India (Correspondent) and the Correspondent may charge their fees. In addition, there may be taxes in the receiver country.  Correspondent may deduct such fees and such taxes and duties from the amount transferred and hence the beneficiary may receive lesser amount than the amount transferred. If the Correspondent Bank does not deduct the fees and taxes and duties charged and require BANK OF BARODA to pay, BANK OF BARODA is entitled to demand payment from You.


BANK OF BARODA may charge:

  • A remittance fee/charges or such fee as may be notified by BANK OF BARODA from time to time
  • Cancellation fee of $15 plus costs and expenses

Exchange Rate

If an exchange rate has not been booked/locked with BANK OF BARODA before making the payment, the money transfer will be processed by BANK OF BARODA at the then prevailing rate after deduction of its fees and charges if any. BANK OF BARODA displays its exchange rates for various currencies on its website which are indicative only and subject to change at any time. 

Intended Time

Under normal circumstances it is intended that the funds will be received within 48 hours by the Correspondent but if the Correspondent is not the beneficiary’s bank branch additional time may be taken.

In the event of any delay is beyond the expected time BANK OF BARODA is willing to make inquiry on behalf of the sender, if requested by You. You are liable for all costs and expenses including legal costs for generating, carrying out and completing the inquiry.

Rights and Responsibilities

It is Your responsibility to provide BANK OF BARODA with correct details when using Bank of Baroda Money Transfer Services. Furthermore, You warrant to BANK OF BARODA that any money transfer received or sent is for lawful purposes and the information provided to BANK OF BARODA is correct.

BANK OF BARODA is not under any obligation to accept Your application and may decline the same at its discretion.

BANK OF BARODA accepts no further responsibility after funds have been sent to the Correspondent.

BANK OF BARODA is required by law to submit all money transfer instruction in and out of Australia to regulatory bodies.  Separate reports are submitted to the regulatory bodies if the amount received or paid is A$10,000 and above in physical cash or foreign currency equivalent to A$10,000 and above in physical cash or if the transaction is suspicious.

BANK OF BARODA reserves the right not to process or delay processing any application in the event that such processing may contravene any law or policy or regulations of any government authority. Payment of a money transfer may not be processed or delayed by the Correspondent as a result of the application is not in conformity with any applicable laws either in Australia or outside Australia. BANK OF BARODA is not liable for and You agree to indemnify and hold BANK OF BARODA and the Correspondent harmless from and against any and all claims, liabilities, costs and expenses if the processing, transfer or payment is contrary to any such law.

BANK OF BARODA is not responsible for any delay, failure to execute or mis-execution of money transfer due to circumstances beyond reasonable control of BANK OF BARODA including but not limited to cut off times imposed by the Correspondent or the bank in which BANK OF BARODA’s account is held, delays or errors or omission in transit or transmission, strikes, power failures, equipment malfunctions, acts or omissions of any Correspondent, any bank in which BANK OF BARODA’s account is held, war, riots, governmental or court orders, work stoppages, earthquakes, terrorists or rebel attacks in Australia and outside Australia.

To the maximum extent permitted by law, BANK OF BARODA and its officers, employees or agents:

  • shall not be liable for any damages or to make compensation for any delay, non- payment or under payment of any money transfer BANK OF BARODA sends for any non delivery of supplemental message or other associated services whatsoever where caused by negligence on the part of BANK OF BARODA, its employees, Correspondents or agents or otherwise except to refund as set out below.
  • In no event BANK OF BARODA or its employees or agents be liable for any indirect, special, incidental or consequential damage.

Upon a written request from You, BANK OF BARODA will refund the principal amount of a money transfer if no exchange rate has been pre booked/locked and if the transaction has not been processed.  If an exchange rate has been pre booked/locked, then BANK OF BARODA reserves the right to claim from You any exchange loss due to adverse exchange rate fluctuations

After a transaction has been processed and if You, for a genuine reason needs to cancel a transaction and request a refund, Your  request will only be processed upon Your written cancellation request and if the payment has not been made to the beneficiary as directed in the application form.  BANK OF BARODA will send a cancellation request to its Correspondent and a refund request will be accepted only after the Correspondent confirms that the funds have not been received by the beneficiary.  Once the Correspondent returns the funds to BANK OF BARODA, a refund will be provided to the sender less BANK OF BARODA’s cancellation charges and any deduction if made by the Correspondent. BANK OF BARODA is not liable to make any refund unless and until the money transferred is refunded by the Correspondent. Any exchange difference due to exchange rate fluctuations between the rate fixed for the transaction and the rate prevailing on the date of cancellation of transaction will also be deducted from the refund amount.

The Code of Banking Practice will apply to the remittance service if you are an individual or a small business (as defined in the Code of Banking Practice).

For information about resolving problems or disputes relating to the deposit, contact Bank of Baroda on +61 2 9087 7400, or visit BANK OF BARODA Sydney office or write to BANK OF BARODA at the following address: Suites 701-702, Level 7,  265 Castlereagh Street, Sydney NSW 2000.

BANK OF BARODA will make available on request information about the procedures for lodging a complaint. For more details about our internal dispute resolution procedures please ask for our complaints resolution brochure.

If You subsequently feel that the issue has not been resolved to Your satisfaction, You may contact our external dispute resolution scheme. External dispute resolution is a free service established to provide You with an independent mechanism to resolve specific complaints. Our external dispute resolution provider is the Financial Ombudsman Service and can be contacted at:


+61 3 9613 7366

Email address:

Legal Documents and Statutory Notices: ncrowhurst@fos.org.au



Postal address:

GPO Box 3
Melbourne VIC 3001

BANK OF BARODA reserves the right to change these terms and conditions without notice to the Sender at any time.

These terms and conditions are to be governed by the laws applicable in New South Wales. BANK OF BARODA and You submit to the exclusive jurisdiction of the courts in New South Wales.