Transfer money overseas digitally anytime and anywhere from ICICI Bank Savings Account in India, using Retail Internet Banking or the iMobile App via Money2World.
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Why Choose Us?
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Safe & Secure Transfers
Two factor authentication with OTP and Debit card grid verification for online transfers
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Higher transaction limit
Transfer USD 75,000 (or it’s equivalent) from your ICICI Bank Savings account in a single transaction.
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Full value credit
No deductions by the intermediary banks. Full value is credited to beneficiary bank for remittances in USD, AUD and GBP remitted to their respective home countries.
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Credit Confirmation
Confirmation sent via e-mail and SMS on credit of funds to the beneficiary’s account.
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Rate transparency
Confirmed and competitive exchange rates available online
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Direct payment to Pre-verified Universities
Transfer education fees using pre-verified and pre-added University feature directly to university accounts in the USA, UK and Australia.
Things you should know
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Liberalised Remittance Scheme (LRS)
The Liberalised Remittance Scheme is a facility available for to all resident individuals making remittance up to USD 250,000 per financial year for permissible current or capital account transactions or a combination of both. It is mandatory to have a PAN number to make a remittance under this scheme.
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Transaction limits
For Resident Indian - Up to USD 250,000 (or it’s equivalent) per financial year.
For Foreign Nationals - Up to the salary earned in India after deduction of taxes
For NRI Customers – Up to the balance available in the NRE account and for NRO account up to USD 1 million or it’s equivalent, subject to limits as per source of funds:
Current Income (rent, dividend, interest etc) – No limit
Capital Assets (sale of assets, property, shares, Gift from relatives etc.) – USD 1 million or it’s equivalent
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Purposes available under LRS
Under LRS, remittances can be made for any permissible current account transactions (like Studies Abroad, Maintenance of relatives, Leisure Travel, Gift, Donation, etc) or capital account transactions (like Investments in equity shares, debt instruments, immovable property, etc) or combination of both.
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Documents
Form A2 – Retail Outward Remittance Application
Supporting documents for the purpose of remittance (as applicable)
Supporting documents for source of funds (as applicable)
Form 15CA/15CB as applicable for Non-LRS transactions
How to transfer money overseas using iMobile App?
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Log in to iMobile app.
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Click Send Money → Transfer Overseas & select the account number
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Select destination country, currency, enter amount,
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Select purpose of remittance and add receiver
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Select the source of funds and accept the “T&Cs and Declarations
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Authenticate using OTP and debit card grid values .
How does one transfer money overseas?
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Overseas Money Transfer
• Online 24x7 using Internet banking & iMobile App
• Available in 21 Currencies
• Confirmed Exchange Rates
• Two-Factor Authentication
Who can transfer money overseas?
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RESIDENT INDIAN ACCOUNT HOLDERS
Under the Liberalised Remittance Scheme (LRS), all resident individuals are allowed to freely remit up to USD 2,50,000, per financial year.
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FOREIGN CITIZENS EARNING SALARY IN INDIA
Citizens of foreign countries, having an ICICI Bank Salary Account, can transfer their salary earned in India, to any country abroad. Note: Copy of Passport ,Visa and proof of salary will be required.
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NON-RESIDENT INDIAN ACCOUNT HOLDERS NRI:
An NRI may remit an amount up to USD 1 million, per financial year, from the balance held in his/her ICICI Bank NRO Account. An NRI can transfer freely without any upper transaction limit, from his/her ICICI Bank NRE Account.
Note: Additional documents may be required for different purposes and source of funds
FAQs
What is Money2World used for?
Money2World is ICICI Bank’s secure online overseas money transfer platform to send money overseas from your ICICI Bank Savings or Salary Account using Internet Banking or the iMobile app.
Who can use Money2World to send money abroad?
Resident Indians, NRIs and Foreign Citizens with an eligible ICICI Bank account can transfer funds overseas.
Non ICICI Bank Customers can walk-in to ICICI Bank Forex enabled branch to give the remittance request.
What currencies and countries can I transfer money to?
Overseas money transfer can be initiated in 21 currencies.
These include USD (US Dollars), EURO (Euro), GBP (British Sterling Pound), SGD (Singapore Dollars), CAD (Canadian Dollars), AUD (Australian Dollars), CHF (Swiss Franc), HKD (Hong Kong Dollars), JPY (Japanese Yen), AED (Arab Emirates Dhiram), SAR (Saudi Arabian Riyal), DKK (Danish Kroner), NOK (Norwegian Kroner), SEK (Swedish Kroner), QAR (Qatari Riyal), NZD (New Zealand Dollar), PLN (Polish zloty), BHD (Bahraini Dinar), OMR (Omani Riyal), THB (Thai Baht), ZAR (South African Rand).
How do I know the exchange rate for my transfer?
ICICI Bank offers competitive and confirmed exchange rates. You can also set up personalised Rate Alerts to monitor INR to foreign currency rates. The rate alerts will be sent via e-mail and SMS.
Can I send fees to university abroad with Money2World?
With our pre-added and pre-verified universities feature, you can pay overseas universities securely in just a few clicks, to select universities in USA, UK and Australia. Below are the simple steps :
- Login to Internet Banking/iMobile app
- Click on ‘Fund Transfer’ under Payments & Transfer/ ‘Send Money
- Select ‘Make international transfers’ > ‘Overseas Transfer’ > ‘Send Money Now’ (a new page of Money2World will open)
- Enter the Country, Currency, Amount to be transferred, Purpose of remittance e.g. ‘Studies Abroad’ and reason as ‘Payment to School/College/University/Professional institute’ etc.
- Enter Student Name (mandatory) and Student ID (optional)
- Click on ‘Add New Receiver’, select the receiver category as ‘Educational Institutions’.
- Finally, select the source of funds and confirm the transaction by entering the Debit Card grid values and OTP.
Note : If you can’t find your University Bank Account, select the ‘Add New’ option
Blogs and Videos
ICICI Bank Resident Indian Account holders transferring money using Money2World
ICICI Bank Foreign National Account holders transferring money using Money2World
ICICI Bank NRO Account holders transferring money using Money2World
ICICI Bank NRE Account holders transferring money using Money2World