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Send money to your loved ones abroad
ICICI Bank offers you a simple way to send money outside India. Our Outward Remittance facilities make remitting money abroad quick, and reliable. ICICI Bank’s Outward Remittance is the solution for all your needs. Be it money for education, gift money or maintenance for loved ones or donation for a cause. Our extensive network gives us reach to most parts of the world.
|Earn rewards points under MySavings Rewards on successful debit from savings account towards Outward Remittance. To know more click here
(*with effect from 1st April, 2013)
The ICICI Bank Edge
- Quick remittances.
- Vast geographical presence in India.
- Vast Correspondent Bank network.
- Transfer in various currencies.
- Competitive exchange rates & charges.
- Facilities for Non-ICICI Bank account holders.
Documentation for Resident Indians
Select your purpose of remittance from the dropdown below to know the forms to be submitted at our branch.
Outward Remittance Modes
- Foreign Currency Demand Draft: Walk into any ICICI Bank branches and obtain a Foreign Currency Demand Draft.
- Wire Transfer: Transfer money from your account across the globe.
Transactions prohibited under Foreign Exchange Management
The transactions for which drawal of foreign exchange by any person is prohibited are given under Clause 3 and Schedule I of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
Transactions for which drawal of foreign exchange is prohibited:
- For travel to Nepal and/or Bhutan;
- Forex transactions with a person resident in Nepal or Bhutan;
- Remittance out of winnings from lotteries;
- Remittance of income from racing/riding etc. or any other hobby;
- Remittance for purchase of lottery tickets, banned/prescribed magazines, football pools, sweepstakes, schemes involving money circulation, securing prize money / awards etc;
- Payment of commission on exports made towards equity investment in Joint Ventures / Wholly Owned Subsidiaries abroad of Indian companies;
- Remittance of dividend by any company to which the requirement of dividend balancing is applicable;
- Payment of commission on exports under Rupee State Credit Route, except commission up to 10% of invoice value of exports of tea and tobacco;
- Payment related to “Callback services” of telephones;
- Remittance of interest income on funds held in Non-Resident Special Rupee Scheme Accounts.