ICICI Bank :: NRI :: How It Works

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Power Transfer (Web Based Wire Transfer)

How It Works?

Click on Power Transfer (Web Based Wire Transfer) link under Send Money or Send Wire under Power Transfer (Web Based Wire Transfer) in the Centre Table.

Enter receiver details in the case of a new receiver -- i.e., name, address, bank account number, remittance amount / currency, country of remittance, purpose of remittance etc. If you’re sending it to an existing receiver, you only need to provide transaction details like the remittance amount / currency, country of remittance, purpose of remittance etc

Once the details are verified, you will get a form on your screen that has a tracking number and details of the remittance instructions to your bank

Take a printout of the "Remittance Instruction" form and give it to your local bank for execution, along with the required funds. Keep the customer copy for your reference

The local bank will then wire-transfer the money to ICICI Bank through its correspondent bank (List of Correspondent Banks for Web Based Wire transfer)

If the beneficiary has an ICICI Bank Account or a bank account with any of the banks that are networked or has a Visa debit/credit card account, the money is directly credited to his/her account. Else the money is sent as a Demand Draft to the beneficiary. For Ready Cash, funds transferred can be collected in cash by your beneficiary from any of the select ICICI Bank branches in India.

You get automatic e-mail updates on the status of your remittance. You can also track the same online through your unique tracking number

The remittance amount has to be transferred to ICICI Bank's account (with its correspondent banks). You can remit the amount to ICICI Bank’s account through any bank of your choice

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