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Sending money from India to overseas is made easy and convenient, with ICICI Bank’s Money2World, an online outward remittance facility, to transfer money abroad. Transfer money abroad either through an online channel or through ICICI Bank’s Branch network.
Transfer facility available for ICICI Bank Account holders and Non-Account holders
Money transfer from India to other countries around the world is made easy and convenient with 24x7 ICICI Bank Money2World facility. This online money transfer facility is available for Resident & Non-Resident Indian ICICI Bank Account holders.
Walk-in to the nearest forex enabled ICICI Bank branch. The branch can assist you in sending money overseas. Transfer money using Wire Transfer or Foreign Currency Demand Drafts.
We understand the things that matter the most to you for money transfer abroad
Convert and transfer Indian rupees to 21 currencies
Send money abroad online anytime, from anywhere
Available 24x7.
- Get an exchange rate commitment from ICICI Bank Money2World, when you send money abroad with the confirmed exchange rate feature
- Know the rate applicable for your online money transfer transaction, when initiating the same
- Experience hassle-free transactions, even if the exchange rate fluctuates between the booking time and the transaction processing time.
- 2-factor authentication, to protect your account and transfers
- Authenticate all transfers using the Debit Card grid value and OTP sent to your registered mobile numbers
- End-to-end 250-bit encryption
- End-to-end online transactions.
Click here to know the charges for overseas money transfer
Goods and Services Tax(GST) will be applicable on currency conversion and remittance charges. Below are the GST Rates -
Amount of currency exchanged |
Derived Value on which GST will be charged |
GST on derived Value ( for rate@ 18%* ) |
Up to INR 100,000 |
1% of gross amount exchanged, subject to minimum amount of INR 250 |
INR 180 ( For exchange amount of INR 1,00,000) |
From INR 100,001 to INR 10,00,000 |
INR 1000 for Exchange amount of INR 1,00,000 plus 0.5% on remaining amount exchanged |
INR 990 (For exchange amount of INR 10,00,000) |
Above INR 10,00,000 |
INR 5500 for Exchange amount of INR 10,00,000 plus 0.1% on remaining amount exchanged, subject to maximum of INR 60,000 |
INR 1170 (For exchange amount of INR 20,00,000) |
* 18% considered for the purposes of numeric understanding only. Applicable rate of CGST / SGST or IGST will be basis the Recipient’s GST no or address registered with ICICI Bank.
Tax Collected at Source (TCS)
Tax Collected at Source (TCS) will be levied on transfers made under Liberalised Remittance Scheme (LRS). TCS will be applicable to LRS transactions in excess of INR 10 lakh in total in a financial year from a particular PAN, at the rate of 5% of the amount remitted for education and medical purposes and 20% of the amount remitted for all other purposes remitted.
TCS will not be applicable for the LRS transaction wherein the source of funds is Education Loan from specific financial institutions but the Education Loan amount will be considered while calculating the threshold for applicability of TCS on other LRS remittances.
Below is the purpose wise TCS applicability :
| Sr. No. | Nature of payment | Revision w.e.f. Apr 01, 2025 |
| 1 | LRS for education financed by a Loan | No TCS applicable |
| 2 | LRS for Medical Treatment/ Education (Other than financed by a Loan) | Nil up to ₹ 10 lakh |
| 5% - above ₹ 10 lakh | ||
| 3 | LRS for other purposes | Nil up to ₹ 10 lakh |
| 20% - above ₹ 10 lakh |
Select the applicable tab from below to initiate an online money transfer
To avail of this service, you need To either have ICICI Bank Savings Account or you should be a Resident Indian with a valid Indian mobile number, email id, PAN number and a valid address proof. If you do not have an ICICI Bank Account, you need to complete a one-time registration which can be done online if you have PAN, Aadhaar and an Aadhaar registered mobile number. If you do not have Aadhaar or Aadhaar registered mobile number, you can complete your registration from the branch.
The limit for fund transfer abroad for ICICI Bank’s resident Savings Account holder from ICICI Bank Internet Banking is up to USD 50,000 or its equivalent per transaction and USD 250,000 or its equivalent per financial year
NRE account balances are freely repatriable. There is no limit specified for outward remittances from such accounts.t to any purpose specific limit specified by Reserve Bank of India. For NRO account it is subject to a limitation of USD 1,000,000 in a financial year and you can repatriate your current income for the current financial year. Current year is the financial year in which the remittance is sought to be made. Balances in the NRO account arising out of capital receipts can also be repatriated up to USD 1,000,000.
