24/7 Online Banking Service
Global Retail and Commercial Banking.
International Remittance Department
Financial Regulation and Inclusion.
6, Sansad Marg New Delhi-110001
lndia Tel: +91 920-597-8520
ATTENTION! Mr. H. SANJAY SRINUVAS REDDY,
We acknowledged your email and with the transfer arrangements in place, please be informed that you have to pay the Cost of Transaction to our Transfer Department before the funds can be transferred to your nominated account. As it was stated by our banking Policy that new account holders will have to pay the Cost Of Transfer Fee before funds can be transferred to his final destination. This is as a result of the Insurance bond policy covering your funds, which state that your full amount must be credited in your designated account and therefore it is impossible to deduct the Charges on Transaction from it.
NOTE: COT means (Cost Of Transfer) and every bank charges a certain amount for transferring funds and it is known as the Charges on Transaction. The COT Fee is (47,800INR, of the total amount claimed ($10,000,000.00) which amount to Hence, COT fee must be paid once by you before the amount can be transferred to your designated account.
Please be informed that the COT fee is legally for transferring your funds including the stamp duty fee for the transfer before the amount can be credited in your bank account. This is in accordance with section 13(1)(n) of the international transfer act as adopted in 1993 and amended on 3RD July 1996 by the constitutional assembly. We want you to understand that you need to pay the (Cost Of Transfer Fee) to enable your funds get credited in your account.
Note: That the Cost Of Transfer Charges cannot be deducted from your funds, because your funds has been protected by a professional hardcover insurance policy which makes it impossible to deduct from it. Hence it has to be remitted to you in full value, we advise that you kindly pay the required COT fee (47,800INR) immediately to avoid delay that might lead to further consequences.
We Apologize for any inconvenience.
Mr. R N VATSA (General Manager)
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