Transferring funds overseas doesn’t have to be a complicated process. With ICICI Bank’s Internet Banking, you can securely and conveniently send money abroad anytime. Whether you’re supporting a loved one, paying for education, or handling other international expenses, ICICI Bank’s simple steps and robust features make the process seamless. Here’s a step-by-step guide to get started.
Step 1: Log in to Internet Banking
Begin by logging into your ICICI Bank Internet Banking account using your credentials. Ensure you’re using a secure device and network to maintain the confidentiality of your banking information.
Step 2: Navigate to 'Fund Transfer Abroad'
Once logged in, go to the ‘Payments & Transfer’ section. From the dropdown menu, select ‘Fund Transfer Abroad’ to initiate the international money transfer process.
Step 3: Add Beneficiary Details
To transfer funds, you’ll need to provide the recipient's details, including:
- Name of the recipient
- Bank account number
- Bank name and branch address
- SWIFT code (a unique identifier for the recipient's bank).
- Double-check all details to ensure accuracy and avoid delays.
Specify the amount you wish to transfer and the currency in which it should be sent. ICICI Bank supports transfers in 16 currencies, including USD, EUR, GBP, SGD, and AUD. Select the purpose of the remittance from the available options, such as education, medical expenses, or family maintenance.
Step 5: Confirm and Submit
Review all the entered details carefully. Once you’re certain everything is correct, submit the transfer request. You’ll receive a confirmation and tracking details for your reference.
Key Features of ICICI Bank’s International Fund Transfer Service
24x7 Accessibility:
You can initiate fund transfers anytime, making it convenient for users with varying schedules or international commitments.
Quick Processing:
Most transactions are processed within one working day, excluding weekends and public holidays, ensuring timely transfers.
Wide Currency Support:
ICICI Bank enables transfers in 16 currencies, including popular ones like USD, EUR, GBP, AED, and SGD, offering flexibility for international remittances.
Flexible Limits:
Residents can remit up to USD 25,000 (or equivalent) per transaction and up to USD 250,000 annually under the Liberalized Remittance Scheme (LRS).
Multiple Remittance Purposes:
ICICI Bank supports transfers for various purposes, including education, medical treatment, employment abroad, emigration, visa fees, and family maintenance.
Tips for a Smooth Transfer Experience
Keep your documents handy: Ensure you have details like the recipient’s SWIFT code and bank account number readily available.
Track your transaction: Use the tracking feature provided by ICICI Bank to stay updated on the status of your transfer.
Avoid peak times: Initiating transfers during business hours can sometimes reduce processing delays, though ICICI Bank offers excellent 24x7 service.
ICICI Bank Internet Banking makes international fund transfers simple, secure, and efficient. With features like 24x7 accessibility, wide currency support, and quick processing times, managing overseas remittances has never been easier. By following this guide, you can confidently send money abroad while enjoying a smooth and reliable banking experience.
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