Hi I have a doubt if anyone can confirm I have received foreign remittance on 23 March and had received remittance advice on same date with value date of 23 March but bank credited amount after 7 days with dollar value of 30 March is that ok or wrong ?what can I do in this case
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Foreign remittance value date
Replies (1)
The 7-day gap often results from regulatory compliance checks (AML/FEMA) or intermediary bank processing times. Banks typically apply the exchange rate on the actual date of credit. You should request the SWIFT MT103 document from your bank to verify where the delay occurred and, if the delay was caused by internal bank errors, file a formal complaint with their grievance desk.
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