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NRI Home >> Money Transfers >> Other >> Power Transfer (Web Based Wire Transfer)

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Web Based Wire Transfer (Power Transfer)

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Power Transfer (Web Based Wire Transfer)

Power Transfer (Web Based Wire Transfer) is ICICI Bank's online wire transfer channel. NRIs can transfer money to India in as short a time as 48 hours. Power Transfer (Web Based Wire Transfer) eliminates the errors associated with a normal wire transfer by giving remitters a printed wire instruction form and a tracking number to track the remittance online.

All you have to do to send money to India is to transfer the amount, along with ICICI Bank charges, to an ICICI Bank account (or any of its correspondent banks). You don’t even need to have an account with ICICI Bank: you can send the money through any bank of your choice.

Benefits

Easy Money Transfers
- Electronic transfers into any ICICI Bank account with over 1300 branches in India
- Electronic transfers into accounts with over 100 other banks in India.
- Electronic transfers into any Visa Debit/ Credit Card* account in India
- Demand Drafts issued and payable at over 2500 locations in India
- Ready Cash payout from any of the select ICICI Bank branches in India

No limits* on the amounts that can be remitted.
Except SGD where maximum amount:
SGD 100,000 per day for ICICI Bank Account transfers
SGD 10,000 per day for non-ICICI Bank Account transfers

Flexible, because you can remit in 10 currencies.

Neither you nor your beneficiary needs to have an account with ICICI Bank

Demand Drafts issued and payable at over 2500 locations in India

Competitive exchange rates

Online tracking of the status of your funds

Charges

USD 2 (inclusive of service tax @ 12.36%) for amounts of USD 1000 or below (equivalent in other currencies). No USD charge for larger amounts.

Foreign currency conversion charge of INR 25 (inclusive of service tax) per transaction will be levied on every remittance request where foreign currency conversion is carried out on or after May 16th 2008. This charge would be deducted from the amount to be paid to the beneficiary. For FCNR deposit requests involving currency conversion, there will be a nominal charge of USD 1 (or equivalent of the deposit currency) for FCNR deposits, deducted from the FCNR deposit amount.