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YONO User Registration Process
Pulling Funds through ACH Process
In order to comply with the various regulations by RBI / Ministry of Home Affairs (MHA) regarding the Rupee remittances to the FCRA Accounts maintained with SBI New Delhi Main branch, State Bank of India, Chicago branch (The “Branch” or “We”) will no longer offer remittance services in Indian rupees (INR) to Foreign Contribution Regulation Act (“FCRA”) beneficiary accounts in India. This service will be terminated both through the online banking portal, YONO, and at the branch. Since INR remittances for FCRA beneficiary accounts will not be accepted by the Branch, we will not be responsible for any conversion fee/ Charges associated with these accounts in India.
However, the Branch will process instructions for wire transfers in Us dollars to FCRA beneficiary accounts subject to applicable fee at the time of submitting the wire transfer instructions (Please refer to customer manual).
We therefore request you to kindly add your beneficiaries under:
“Manager Recipient => Add Recipients=>International Recipients => Non-INR Recipients” tab menu.
Please keep the above changes in mind when submitting wire transfer instructions for FCRA beneficiary accounts.
You may call us at +1 312 621 1200 ext. 252/254/256 or write us to avppb.chicago@statebank.com for any query in this regard.
Manage your money when it is convenient for you. You can check account balances, transfer money between accounts, view your account history. Bank your way!
Do you need to send money to your near and dear ones in India? We offer attractive exchange rates on international remittances. You can send funds to India quickly and easily with online banking.
Open a new account to start taking advantage of our convenient deposit products and competitive interest rates.
Corporate Banking
Open a new corporate account to take advantage of a low-cost checking account. Please contact branch for account opening.
Important Information About Procedures for Opening an Account
Mandated by the USA Patriot Act:
"To help the government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act, a Federal Law, requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account, including business accounts.
What this means for you:
When you open an account, we will ask for your name, address, date of birth, identification number social security number, employer identification number and other information that will allow us to identify you. We will also ask to see your driver's license or other identifying documents. A corporation, partnership, trust or other legal entity may need to provide other information, such as its principal place of business, local office, employer identification number, certified articles of incorporation, government issued business license, a partnership agreement or a trust agreement.
What happens if the information requested is not provided or the identity cannot be verified?
You may not be able to open an account or carry out transactions. If the account is already opened, we may have to close it."
