What is my cot code?

What is my cot code?

There is no such thing as a “COT code”, but the term is sometimes used as one of the steps in an advance fee scam. The victim is told that before they can receive a wire transfer of the large amount they’ve been promised they need to pay to have a “COT code” (which ostensibly stands for Cost Of Transfer) issued.

What is the meaning cot code for money transfer?

Cost of Transfer
The C.O.T. code stands for Cost of Transfer, which is allegedly needed to complete questionable international wire transfers, but please be wary, as this is most likely a scam.

How do I transfer money using Swift code?

You need to fill the beneficiary’s details, such as bank account number, postal address of the bank and its SWIFT code, in a form. Once this is done, the amount will be debited from your account and credited to the foreign bank account in 48-72 hours.

Do you need SWIFT code to transfer?

The SWIFT code is usually required when you conduct an international money transfer and is used to identify a specific bank account in the process of verifying international transactions. It can be found as a set of 8 or 11 digits on your bank account statements. These numbers are used to represent your bank branch.

How can I complain to RBI?

To file a complaint, you need to visit https://cms.rbi.org.in. After that, click on file a complaint link. CMS is accessible on desktop and there is app as well that you can use. Select the language from the dropdown and then ‘File a complaint with ombudsman against an eligible regulated entity’.

How do you approach RBI?

One can file a complaint with the Banking Ombudsman simply by writing on a plain paper. One can also file it online at (“click here to lodge a complaint”) or by sending an email to the Banking Ombudsman. There is a form along with details of the scheme in our website.

What is a base rate entity ATO?

A base rate entity is a company that both: has an aggregated turnover less than the aggregated turnover threshold, which is $25 million for the 2017–18 income year and $50 million from the 2018–19 income year.