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Remittances
Inward Remittance
ICICI Bank offers a convenient and well equipped international wire transfer service. Through this service, you can simply instruct your local bank to send money to ICICI Bank's local account held with the correspondent bank. Post instructions, it takes 1-2 working days for a Wire transfer request to get processed and money to reach our local account in your country. The money will then be transferred to your beneficiary account in 2 hours time, provided you furnish the required documents to your Branch.
How Inward Remittance works
- Step 1 – Remitter request for remittance with its Remitting Bank
- Step 2 – Remitting Bank gives instructions to its correspondent NOSTRO bank to transfer the amount
- Step 3 – Remitting Bank’s NOSTRO correspondent further request ICICI Bank’s NOSTRO correspondent to transfer the remittance amount
- Step 4 – ICICI Bank’s NOSTRO correspondent further credits the amounts to beneficiary bank i.e. ICICI Bank
- Step 5 – Beneficiary bank (i.e. ICICI Bank) credits amount to customer’s account post stating purpose of remittance
