Axis Bank payment alert - Inward Remittance Notification

Dear All,
I am using wire transfer for my admob ads revenue and today i got below mail from Axis Bank.
Do i need to act on this? i never got such mail previously. I have opted my revenue in US Dollars.

Dear Sir/Madam, 

This email is to inform you that we have received foreign currency funds of USD-xxx.xx from overseas vide SWIFT bearing reference number F60716100xxxxxx. Request you to immediately get in touch with your base branch to avoid any delay in processing of your transaction and also to avoid any loss on account of adverse movement of exchange rates.
In the absence of any instructions from you, the Bank will be forced to either return the funds to the remitter or process the transaction based on the information contained in the SWIFT message.
With Regards,
Axis Bank Ltd.

This is a system-generated e-mail. Please do not reply to this email.

Kindly suggest on this.

Go talk to your bank… ask them WTF?

Normally they will convert the USD into whatever currency the account is held in. Minus their commission of course!

I wonder if i am the one who got this mail. its not that huge amount to ask the payee for face show.
I must say big WTF.

Just a precautionary step. The money should be in your account by day end. If you are still worried, you can go have a talk with the Bank.

You are right.

I spoke to them twice yesterday over phone and they told me that this is automated mail started recently. It is for people who are receiving more than 15lakh foreign currency. but they are sending it to everyone if foreign currency is received in account.

they told me that i should ignore the mail in my case and money should be tranaferred by end of the day. i received it yesterday itself.

stupid banks everywhere, that’s why I stopped using wire transfers, my bank once thought I do money laundering -_-

which payment mode you use now?


BEWARE Paypal… they are worse than banks, and you have ZERO RECOURSE if they take your money. They have done this to a LOT of people!

the fee of wire transfer is very high as per I know. I think you should go with paypal

i don’t get this paypal hate. all the horror stories of freezing funds, look at it from paypal’s angle, they had to to protect themselves. they put me on rolling reserver back in 2007 when i was making big money as a ringtone affiliate, but since then, they haven’t touched my account. obviously it’s a problem for people who need access to all their funds straightaway but i had no problem with it frozen for a few months, i wasn’t living paycheck to paycheck!