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Outward Remittance

Send money to your loved ones abroad

ICICI Bank offers a simple and reliable way to send money outside India. Send money abroad for education, maintenance of your close relative, gift money to your loved ones or donate for a good cause. Our product offering is just suited for your specific requirement of transferring money to most parts of the world. All you need to do is visit any ICICI Bank Branch and submit your request.

ICICI Bank Advantages

  1. Quick Remittances
  2. Vast geographical presence in India
  3. Vast Correspondent Bank network
  4. Transfer in various currencies
  5. Competitive exchange rates & charges
  6. 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.

Non-account holders need to additionally give a proof of identity and proof of address

Outward Remittance Modes

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.

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