Services Provided by ICICI Bank

Online Services

ICICI Bank provides money transfer services under different names of e - Transfer, Cheque Transfer, Power Transfer, Net Express and Card Transfer.  Each of these services vary according to the procedure to be followed and the transfer period.  These services are designed according to convenience of different group of customers. There are also similarities in some of the features of various services.  The table given below explains some of the common features of different services.

e-Transfer - With e-Transfer, debit in your local bank account in USA and withdraw from a bank account in over 30 banks in India as a DD.

Cheque Transfer - Money transfer with this methods is faster compared to that of traditional mailing mode to India.  You have to post a printed form from ICICI website along with cheque to a local P.O. Box. Money will be transferred within 1-7 days on the receipts of cheque by the bank.  All the advantages of online money transfer is available with this method such as online tracking, free money transfer to ICICI Bank account, best exchange rates etc.

Power Transfer - Money transfer is possible with this method with in 48-96 hrs. This is a wire transfer facility with options for multiple currency debit.

Net Express - You can transfer money to India from your internet bank account. This facility is available in U.K., Singapore, France and Germany. 

Card Transfer - In this methods you can debit using your Credit Card. (Master Card).  Money is transferred within 3 working days.  This mode also has the advantage of using the credit period. A benefit offered by the card issuer.

Me-NRI, NRI-Direct - Those are specially designed online money transfer services offered to Gulf NRIs. ICICI Bank in alliance with Me-Bank in UAE (Me-NRI)  and with Commercial Bank in Qatar (NRI-Direct) offers specialized money transfer services to residents of UAE & Qatar respectively.

Remittance Card : In 2007 ICICI Bank introduced standalone card based transfer system. NRIs can charge these card at thier own ease using bank accounts and credit cards. Beneficiary can use the card over ICICI bank affiliated ATMs to withdraw amounts upto 50000 at a time. The card is re-usable and faster than other methods.

Money transfer period of these services vary as follows

e-Transfer                      -      within 5-7 working days
Cheque Transfer          -      1-7working days
Power Transfer             -      48-96hrs.
Card Transfer                -      3working days

Offline Services

Branch Remittance - Money transfer to India can be made through ICICI Bank overseas branches located in Canada, Britain and U. K..  Instant money transfer can be done through these branches for the customers and non customers of ICICI Bank at these regions.

ICICI - Well  Fargo Services - ICICI Bank and Wells Frago USA offer this money transfer service after an alliance agreement. Money can be sent to India from a Well Frago Branch or ATM centre in USA. Transfer occurs in 24hrs.

Insta Transfer - This service is made available in Gulf Countries  by ICICI Bank. Your ICICI bank account can be credited instantly approaching the partnering exchange houses or banks. 

Speed Transfer - This is a fast money transfer service with turnaround time of 24 hrs. through partner exchange banks in different countries.

Demand Draft - An instant DD across the counter in INR available at the partner exchange banks of ICICI Bank which is payable in different locations of ICICI bank.

Home Point - This service is available only in Canada.  You can transfer within 2hrs from any of the partner banks in Canada.

Cheques - Foreign Currency Cheques can be deposited in ICICI Bank and credit is usually available with in 8 days.

Wire Transfer - Here you can remit money from your local bank to any ICICI bank account by giving them wire transfer instructions.  Money usually transferred within 24-48 hrs.

POSB in Singapore - This facility is offered by ICICI Bank association with DBS Bank Singapore. You can directly give money transfer instructions at any of the POSB centers in Singapore.

For detailed information on these services, please check out ICICIBank.com