Best for

NRIs wanting to transfer money overseas securely

  • Easy access 24x7 via iMobile & Internet Banking

  • Confirmation via e-mail & SMS once the funds are credited in the receiver’s account

  • Available in 21 currencies

  • Fixed exchange rates

  • Full Value Credit to the receiver’s bank in USD, GBP, AUD, CAD and EUR sent to the respective home country

  • Transfer to IFSC GIFT City account in foreign currency

Things you should know

  • Documents for transfer from NRO Account

    Source of funds must be supported by relevant documents depending on the transaction type - like rental agreement for rent income, sale deed in case of sale of property, copy of will for inheritance proceeds. No document is needed for select sources like gifts from relatives or interest earned on accounts.

  • Purpose Selection for transfer from NRO Account

    Repatriation from NRO Account requires selecting the correct Purpose of Remittance and Source of Funds in line with regulatory guidelines, including Form 145 & 146 as applicable.

  • Documents for transfer from NRE Account

    No documents are required for transfers made from NRE Account.

  • Purpose Selection for transfer from NRE Account

    Repatriation from NRE Account requires selecting the Purpose of Remittance.

About ICICI Bank’s outward remittance

Online Overseas Money Transfer Limits:

Online Overseas Money Transfer Limits define the maximum amount that can be remitted based on account type, transaction timing and regulatory guidelines. These limits help ensure compliance while remitting money. When you plan to send money abroad from India, understanding these thresholds helps you plan better and execute international remittances seamlessly.

Transfer Limits

Transaction Type

Per transaction limit

Per Financial Year

NRO Account to Overseas

USD 100,000 or equivalent

 

USD 1 million or equivalent, subject to limits as per source of funds:

Current Income (rent, dividend, interest etc.) – No limit

Capital Assets (sale of assets, property, shares, gift from relatives etc.) – USD 1 million or equivalent

NRO Account to NRE Account

USD 1 million or equivalent

NRE Account to overseas

  • USD 2,50,000 or equivalent during working hours i.e. 10:00 a.m. IST to 03:59 p.m. IST on India working days
  • USD 1,00,000 or equivalent per transaction beyond the days and times mentioned above

No Limit

Charges for Overseas Money transfer

Click here to know the charges for overseas money transfer. GST on currency conversion and above charges will be applicable additionally.

Documentation

To know the documents required for initiating an overseas money transfer online, click here (Refer to FAQs regarding Online Repatriation).

FAQs

Is tax applicable on outward remittance from an NRE Account?

No, outward remittances from an NRE Account are not subject to tax in India, as these are tax-free funds that are maintained on a repatriable basis. No additional documentation is required for such transfers. However, customers must select the correct purpose of the remittance and any tax liability, if applicable, depends on the destination country's regulations.

How can I send money overseas from my NRE Account/NRO Account ?

ICICI Bank Account holders can transfer money overseas from their NRE/NRO Account in India to any bank around the world, using Internet Banking or iMobile App via Money2World or visit the nearest forex-enabled ICICI Bank Branch. 

In how many currencies can I send money overseas?

Overseas money transfer can be initiated in 21 currencies.

These include USD (US Dollar), EURO (Euro), GBP (British Sterling Pound), SGD (Singapore Dollar), CAD (Canadian Dollar), AUD (Australian Dollar), CHF (Swiss Franc), HKD (Hong Kong Dollar), JPY (Japanese Yen), AED (Arab Emirates Dirham), SAR (Saudi Arabian Riyal), DKK (Danish Kroner), NOK (Norwegian Kroner), SEK (Swedish Kroner), QAR (Qatari Riyal), NZD (New Zealand Dollar), PLN (Polish Zloty), BHD (Bahraini Dinar), OMR (Omani Riyal), THB (Thai Baht) and ZAR (South African Rand).

Who can be the receiver for overseas money transfer from my NRO Savings Account?

Overseas money transfer can be done to:

  • Your own NRE Account with ICICI Bank under the same/different Customer ID/s (such NRE Account can be selected from the dropdown)
  • Any Overseas Account

How can I transfer funds from my NRO Account and NRE Account using Money2World?

From NRO Account:

  • Log in to ICICI Bank Internet Banking

  • Go to Payments & Transfer > Funds Transfer

  • Select Overseas Transfer using Money2World > Repatriation from NRO SB via Wire Transfer

  • On the Money2World page, click on ‘Send Money’

  • Choose destination country (select India for NRO to NRE) and enter the amount

  • Select the ‘Purpose of Remittance’, ‘Receiver’ and ‘Source of Funds’

  • Upload the required documents.

  • Authenticate via Debit Card Grid Values and OTP.

From NRE Account:

  • Log in to ICICI Bank Internet Banking

  • Go to Payments & Transfer > Funds Transfer

  • Select Overseas Transfer using Money2World > Repatriation from NRE SB via Wire Transfer

  • On the Money2World page, click on ‘Send Money’

  • Choose the ‘Destination Country’ and enter the ‘Amount’

  • Select the ‘Purpose of Remittance’ and the ‘Receiver’

  • Authenticate through Debit Card Grid Values and OTP.

T&Cs apply.

VIEW ALL FAQ’S

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