ICICI Bank Wire Transfer Charges for Inward Remittance

Send or Receive Forex amount from anywhere in the world to ICICI Bank account, Check the wire transfer charges of ICICI bank for inward remittance…

ICICI Bank Wire Transfer is the easiest method of receiving the money to your account, and the account for inward remittance is to be your saving or business account in India from any branch of ICICI bank. An inward remittance is a process of moving the key to your local account from anywhere abroad using a wire transfer option which is carried out from their local bank to your ICICI bank.

In this process, based on the country restriction and process the extra charges will be deducted by the ICICI bank as per foreign currency exchange regulations, and the charges on the amount will be charged based on the currency rate and their conversation factor in Indian rupees.

Benefits of ICICI Bank Wire Transfer Inward Remittance

There are multiple benefits if you choose ICICI bank for any process of money transfer from a foreign country to an Indian bank, and here is quite a good list that can help you to understand more about the ICICI Bank Wire Transfer.

  • The amount will be credited to beneficiary account in 1 to 3 working days
  • There is no limit under inward remittance to transfer money
  • Can transfer any amount of funds from online or branch easily
  • Use multiple modes of transfer and know how much is charged for the entire transfer

ICICI Bank Wire Transfer Charges for Inward Remittance

The Wire transfer charges for inward remittance do change based on your country of receiving, and here is a list that you can notify when you transfer amounts.

Charges Mode ProductThrough ICICI Net BankingWith ICICI Bank Branch
Regular DeliveryRs. 750 for Resident CustomersRs. 1000 for Resident Customers
Rs. 500 For NRI CustomersRs. 500 For NRI Customers
Guaranteed DeliveryRs. 1000 for Resident CustomersRs. 1500 for Resident Customers
Rs. 500 For NRI CustomersRs. 0 for NRI Customers
  • Wire inward transfer initiated from a Branch of ICICI bank from a foreign country for forex does have a charge of Rs 750 for the resident customer and Rs 500 will be applicable for NRI customer.
  • Wire transfer initiated from another bank branch from a foreign country will charge Rs 1000 for the resident customers and then Rs 500 for NRI customers.
  • If Wire Transfer is initiated from ICICI internet banking from the United States of America, the charge will be different with Rs 1000 for the resident country and Rs 500 for NRI customers.
  • If Wire Transfer is initiated from the ICICI Bank branch from the USA, then there is no change for the NRI customer but Rs 1500 charged for the resident customer.

Source: ICICI Bank

How To Do ICICI Bank Wire Transfer

If you have someone who is transferring the money to your ICICI Bank Saving account or business account through the ICICI Bank Wire Transfer, then below is the process that needs to be followed for easy transfer of funds.

  1. Open ICICI Internet Banking and log in to your account
  2. Hover and Click on “An overseas account through Money2World”
  3. Add Beneficiary Bank Account Details
  4. Enter Amount to start Transfer
  5. Click Submit to transfer from your ICICI account

Frequently Asked Questions

Does GST is applicable to inward remittance transfer?

Yes, as per the guidance of the country regulating the amount that is transferred from the inward remittance will be charged will applicable GST price, and this will be levied based on the proof submitted by the customer and will be as per the mentioned charges applicable, and if our column is filled, then the extra charges will be levied.

Who to connect if your Inward remittance is taking Time?

In case if you haven’t received the amount to your ICICI Bank account with the inward remittance, you can visit your branch and ask them to check if there is an amount to be credited. As if the amount is huge in price, the branch will ask for extra approval and reason for why it is going to be credited in your account with proper approvals from the bank manager.

Do we require approval from the local branch for inward remittance?

Yes, if the amount to be transferred is huge then it must be brought to the notice of your local branch to accept the payment that needs to be credited to your account, and this is for security and having proof of how the amount with whose account is being transferred.

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