Bank Transfers to India From Swiss Bank Account

Hello everyone,

Recently I have begun importing clothes and goods from India because they are not available in Switzerland. The problem is, all of the merchants I buy from give me this type of account information for the transfer:

Bank details:
Name
A/c 20012768403
Savings account 
IFSC code: SBIN0010328
Sbi MUSARAMBAGH BRANCH

I do not really understand how to make the transfer from my Swiss bank account using this information. They do not provide an IBAN and when I ask for one, none of the merchants know what an IBAN is. Is there some way to calculate the IBAN using the account information provided?

Thanks for your help with this.

Hi there,

The IBAN system is not used in India, nor in the majority of countries in Asia. Instead, SWIFT codes (BIC codes) are used for international transfers to India. IFSC codes are used for local transfers within India.

In order to make a bank transfer to India from Switzerland, you need to obtain the SWIFT code of the Indian bank. Ask the Indian merchant to provide you with the SWIFT code. If they do not already have the SWIFT code, they can obtain it from their bank.

Best regards from Moneyguru

More on this topic:
Guide to sending money overeas
Guide to peer to peer money transfers

IFSC codes are used to transfer the funds within India, just like IBAN codes are used to transfer funds within Europe. Swift Codes are used for interregional transfers to any country around the world.

So a transaction from Switzerland to India would require the SWIFT code.