Thursday, September 23, 2021

SBI sending sms for advance intimation of inward Remittance. What to do?

Did you get this sms?

"Dear SBI Customer, This is an advance intimation of an inward Remittance of USDxxx.xxx value Date 20210922. Please contact branch with Relevant Documents."

This doesn't mean you have to visit branch even if you have submitted the FEMA documents. This is only advance notification and nothing else. SBI is using generic sms format to all customers.

I submitted my FEMA documents years ago when i was receiving money through other bank. This means if you have submitted documents before you need not worry. Just ignore this message.

If you have not submitted FEMA documents then you must visit branch. They will provide a page where you have to mention the reason of the inward remittance. For Adsense, Admob earned through PlayStore apps, website ads, YouTube ads etc you must mention software services in the document. This document must be submitted for every new source of income. Like earning money from another source requires another declaration. Its a one time process & takes few minutes. You can also keep the scan or take pictures of signed documents for personal future use. It will remind you of whatever you mentioned in the documents.


More information regarding Fema can be found below: