ICICI International Transfer: Your full guide

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ICICI bank is one of India's leading banks which offers international money transfer solutions to and from India. But transferring money to loved ones overseas has always been a tricky experience for many expats, especially NRIs. Many of you might’ve faced difficulties in the past with varying foreign exchange rates, money not being received on time, or spending much more than you planned.

Most people use their own banks mainly for convenience, but this may turn out to be a complicated and expensive affair with the long processes, hidden charges, and high forex rates. Before transferring money internationally, always check for the best deals which can save you a lot of money on every transaction.

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ICICI has become one of the biggest names in international fund transfers with their convenient online and offline money transfer options. You can receive funds in India online through ICICI Money2India.

ICICI Receive Funds

ICICI bank’s money transfer solution, ICICI Receive Funds was previously offered for students away from home, salaried employees with non ICICI bank accounts, housewives, and property owners who receive rental money from tenants. This feature was a person to person transfer service. However, the service is now discontinued.

ICICI Money2India: Remit to India with ICICI Bank

ICICI Money2India is a cost effective and secure online money transfer service where you can transfer money from the USA, UK, Canada, Europe, Singapore, and UAE to India.

If you are an ICICI Bank NRI customer, you can simply login to Internet Banking to start sending money. If you are a first time user, you will need to sign up and provide your KYC details. Post approval from the bank, you can start sending money.

To transfer money, use the following steps¹:

• Login to ICICI Money2India website
• Enter the amount you wish to transfer
• For first time users, complete your user profile
• Add a new recipient or select already added recipient and click ‘Continue’
• Add your bank account or select existing bank account to make the payment
• Confirm and pay for your transaction

ICICI charges and fees for receiving money internationally

The charges for receiving money in India for various countries and currencies using ICICI bank are given in the table below. These charges are to be paid by the person sending money, and not the person receiving it. Goods and services tax (GST) will also be levied by the bank over and above these charges.²³⁴⁵⁶⁷

These are, however, not the only charges you may incur as there may be hidden charges in the forex markups. To know the exact amount of money you will receive when you transfer money internationally, compare ICICI rates vs Wise.

How much time does it take to receive money using ICICI?

Instant transfers are available for a few recipient banks. Other transactions can take up to 2 days, if intermediary banks are involved. This varies by country, the method of delivery you select, and how you pay for the transaction¹⁰.

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ICICI bank provides fund transfer services for its resident individual customers. This facility is available to resident Indians, NRIs and foreign citizens. You can send funds internationally from India in 21 currencies using ICICI Money2World.

ICICI Money2World: Remit from India with ICICI

You can use ICICI Money2world service without having a resident savings bank account with ICICI bank. For using this service, you need to complete the registration process online as follows:

• Submit the KYC documents for identification and address proof at the nearest ICICI bank
• The payment for the remittance may be made by account payee cheque or Demand Draft or by Cash deposit. You can also make the payment via NEFT or RTGS

A full-value credit option is also available for USD, AUD, and GBP, ensuring the entire amount is credited to the beneficiary’s account without deductions.

If you are not in a hurry to transfer the money, this may be a very convenient method for you. But as exchange rates fluctuate daily, you may end up spending more on your money transfers than you planned.

Charges and fees for ICICI Money2World

Flat service charges are charged by ICICI for sending money from India. These do not include GST and exchange rate markups.

There also may be other hidden charges, such as markup in exchange rates. To know the exact amount of money you will receive when you send money abroad with ICICI, check ICICI price comparison vs Wise.

How much time does it take to send money with ICICI

The beneficiary abroad will receive the funds in their overseas bank account within 1 international working day, where the transaction requests are received before 14:00 PM on weekdays. It can take a few more days if intermediary banks are involved.

Check the status of your money transfer with ICICI

One of the main advantages of using ICICI money transfers is that you can check the status of your transfer and make sure that the transfers are complete and received on time. To track the status of your transfer, simply visit the transfer page and view details after logging in to ICICI Money2World website or the iMobile app.

The true cost of international transfers with ICICI bank

International transfers with ICICI seem convenient, but are they really the most efficient and cost effective option? Banks like ICICI rely on old, rusty technologies to transfer money which take a long and tiring process to finally remit money overseas. Sometimes, you may not even get the best price for your transfers, but you still continue because you have been using your bank for a long time and it works. If you regularly transfer money internationally, or to a lot of different recipients, eventually this can burn a hole in your pocket.

But it doesn’t have to be this way. Money transfer service providers like Wise use new, advanced technology to make money transfers easy, fast and most importantly, cheaper for you. Know the exact amount of money you receive when you do transfers with ICICI bank vs Wise, and make sure you are getting the best bang for your buck.

A cheap, fast and transparent alternative: Wise

Wise is a convenient and cost effective alternative for all your money transfer needs. When you send your money, you will know for certain the amount that your beneficiary will receive. There will be no hidden charges and nasty surprises.

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We at Wise believe in fairness and money without borders. That is why we always offer international money transfers at the fair mid-market rate, which is the one you see on Google whenever you look it up. We charge a small, transparent fee because no transfers are ever free, but what you will never see are unfair and hidden charges.

All sources checked on 19 April, 2026.