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Union Bank of India

Research notes as of 05 Oct 2026, not legal or tax advice. VERIFIED means we read the primary source, REPORTED means secondary sources only, and UNCERTAIN means the law or practice is unclear. Ask your bank or a CA before acting on uncertain points.

How to file with Union Bank of India

From the bank's published export policy and other sources, checked 2026-10-04. Banks are still settling their procedures, so confirm with your branch.

How to submit

  • Base branch routed via B Category branch to Trade Finance Processing Centre (TFPC) verified

    Framework: customer submits request in prescribed format 'at branch/ alternative digital mode as made available by Bank'; branch uploads to FTI portal; TFPC processes. C Category branches route via B Category branches.

    Source

Documents the bank may ask for

  • Transaction request/application in prescribed format verified
  • Declaration for purpose of transaction verified
  • FEMA declaration verified
  • Invoice / agreement / underlying documents verified
  • Disposal instructions for inward remittances verified
  • KYC-compliant account and valid PAN verified
IEC needed?
Not confirmed. Ask your bank
Timing
Framework TATs: retail inward up to USD 5,000 within 1 business day; other trade inwards and export advances within 2 business days of complete documents. No services-EDF specific TAT found.
Charges
Per DFB&IB circulars; no services-EDF charge published.
FIRA / FIRC
Not found in the framework.
Declaring the purpose code
Retail inwards up to USD 5,000 into individual savings accounts are credited without disposal instruction if the SWIFT message is complete. Above that, the bank needs a disposal instruction and FEMA declaration. Export proceeds need a disposal instruction plus underlying invoice/contract.

Recommendations

  • Expect to submit a disposal instruction plus FEMA declaration for each services-export inward above USD 5,000.
  • Ask your branch which B Category (forex) branch it routes to, and whether it accepts the monthly EDF by email or only at the counter.
  • Union Bank's EEFC chapter (2014 handbook) lists individual professionals as eligible, so you can ask for an EEFC account if you want to retain foreign currency.
  • For PA/platform payouts that arrive as domestic INR credits (Wise/Skydo/Razorpay/Payoneer/PayPal), keep the provider's FIRA/e-FIRC and ask the bank how it wants them mapped to the EDF; no bank in this group publishes a rule for this.

The bank's export policy (FEMA 23(R)/2026, Reg. 19 disclosure)

Sources