| Cash
Deposit |
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Cheque
Deposit |
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Day
0 - Deposit at Canada
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The remitter walks into any Bank of Montreal branch and makes
either a cash or cheque deposit using the personalised Deposit
Slip |
|
|
ICICI Bank obtains information regarding the deposit. |
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Day
0 - Processing at India
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ICICI Bank records the transaction information |
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Transaction charges are deducted from the remitted amount |
|
|
ICICI Bank credits the beneficiary's account with equivalent amount in Rupees |
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Day
0 - Processing at India
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ICICI Bank records the transaction data |
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Day
3
|
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The transaction charges are deducted from the remitted amount |
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Beneficiary's account credited |
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If the deposit amount is greater than CAD 8000, a debit freeze would be put on the amount for 8 working days from the date of the deposit being made. This debit freeze is not applicable for amounts below CAD 8000. |
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Day
8
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Debit freeze is removed for amounts greater than CAD 8000. |
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