What is Wire Transfer?
- Wire Transfer is one of the easiest offline modes of sending money to your friends and family in India.
- ICICI Bank has a vast network of correspondent banks banks through which money can be credited to any bank account in India.
- No matter where you are in the world, just issue Wire Transfer instructions to your local bank and money can be credited to any ICICI Bank or Non-ICICI Bank in India within 1-2 working days.
How does it work?
Initiate wire transfer from your local bank through their online / offline facility mentioning our correspondent bank details. Please select currency of remittance from the drop down currency list:
For smooth and timely processing of the transaction:
- For smooth and timely processing of the transaction: Please ensure that your Name, overseas bank account number, email ID, overseas address / contact number and Purpose of Remittance is mentioned in the wire transfer message sent by your local bank. Kindly mention Charges as "OUR" in the wire (swift) remittance form.
- For credits to any other bank in India please provide the complete beneficiary bank branch address and preferably the IFSC code in Field 57
- Please note that the SWIFT code / BIC of the intermediary bank mentioned above is currency specific and is common for all branches
- Do not mention account number for opening a fixed deposit.
- For timely credits to your account you must provide the purpose of remittance.
- While remitting funds for FCNR deposit, do not mention your NRE/NRO savings account number to avoid the funds getting converted to INR.
- RFC deposits can be opened in USD, GBP, EUR and JPY currencies only.
- FCNR deposits can be opened in USD, GBP, EUR, JPY, AUD, CAD, SGD, CHF and HKD currencies only.
- Minimum amount for opening RFC/FCNR account: USD1000, GBP 1000, Euro 1000, JPY 200,000, AUD 2000, CAD 2000, SGD 2000, CHF 1000 and HKD 10000
- FCNR Deposits without tenure mentioned in SWIFT would be made by default for 1 year 1 day.
- In case, your local bank’s wire transfer form does not have an option to enter correspondent bank details, then you may kindly check with your local bank in order to include the correspondent bank details as provided in Wire Transfer /SWIFT details.
1. Ensure that your local bank mentions your account number, name address and purpose of remittance in the payment message to avoid any delay in processing your transaction.
2. Swift / BIC Code for ICICI Bank for retail remittances is: ICICINBBNRI.
- Super convenient offline mode – all you need to do is issue International Wire Transfer instructions to your local bank.
- Quick – Amount transferred to beneficiary account within 24 working hours of ICICI Bank receiving funds in its account held with the correspondent bank.
- Multiple currencies - Inward remittance is accepted in 17 currencies namely:
UAE Dhiram (AED), Australian Dollar( AUD), Canadian Dollar (CAD), Swiss Francs (CHF), Singapore Dollar (SGD), Japanese Yen (JPY), United States Dollar (USD), Norwegian Krone (NOK), New Zealand Dollar (NZD), Qatari Riyal (QAR), Danish Krone (DKK), Euro (EUR), Great Britain Pound (GBP), Hong Kong Dollar (HKD), South African Rand (ZAR), Saudi Riyal (SAR), Swedish Kroner (SEK)
- ICICI Bank does not charge anything for Wire Transfers except for Service Tax on Foreign Currency Conversion. The remitting bank/correspondent bank may levy charges for the wire transfer.
- Service tax will be levied on the converted gross INR amount in accordance with the Finance Act, 2015 and Service Tax (Amendment) Rules, 2015 of the Government of India w.e.f. June 1, 2015. Please click here to know the slab wise service tax structure.
- Charges for demand draft - 0.2% (making charges) + INR 35 (courier charges). The amount charged is sum of the making charges and courier charges or INR 85 whichever is higher.
- The Card Rate prevailing on the date of credit to customer account would be the applicable exchange rate.