Global Business Collections

Under the facility, customers would be able to collect their export proceeds through e-commerce/marketplaces, their websites and online sales. Exporters would be able to generate a payment link which they can share with overseas buyers for payments. 

Yes, funds can be received in foreign currency, in your EEFC (Exchange Earners Foreign Currency) account

This facility would allow you to receive payments from buyers in based in USA, Europe, United Kingdom (UK) & Canada in USD, EUR, GBP & CAD respectively.

Once you sign up, you shall receive a virtual collection account number for the respective geography/currency. Such details can be integrated on e-commerce/marketplaces for collections through local payment modes in those geographies. Alternatively, you can also generate a payment link and share it with overseas buyers for online sales. 

Once the funds are credited to your virtual account in the overseas geography, the same would be available for withdrawal into your current or EEFC account with the Bank on the next working day.

Resident Indians (Corporates & individuals) maintaining a Current Account with ICICI Bank and engaged in export of goods or services. 

This is a cost-efficient mode of receiving payments for both buyers IN OVERSEAS GEOGRAPHIES and exporters as local collection modes in respective geographies are used for facilitating such collections. Further, there is transparency in respect of the full value of the transaction being received as there would be no intermediary bank deductions.  

ICICI Bank is your trusted banking partner. The Bank will facilitate the payment leg of your collections as well as regulatory compliances in regularisation of export bills in EDPMS (Export Data Processing and Monitoring System), thereby ensuring end-to-end closure of entire export cycle.