The below content is purely for informational purposes and is not intended to constitute advisory of any kind. Please note, these are in-depth articles which are best viewed on large screen devices like laptops, desktops and tablets. The position reflected in this article has been updated as of May 15, 2026.

 

Whether it is students pursuing education abroad or Non-Resident Indians (NRIs) managing financial commitments overseas, international money transfers often serve as a financial lifeline. However, unlike most domestic transfers, outward remittances* come with regulatory limits, which can mean multiple transactions and additional effort.

 

With ICICI Bank, one can transfer up to USD 1,00,000 in a single transaction through our digital channels iMobile app and Internet Banking using Money2World, making international payments convenient.

 

*Outward remittance refers to the transfer of funds from India to a beneficiary located outside the country.

What has changed?

Earlier, customers could transfer overseas up to USD 75,000 equivalent in a single online transaction. With the latest enhancement, customers will now be able remit up to USD 1,00,000 equivalent in a single transaction through ICICI Bank’s mobile or internet banking channels.

 

A higher transaction limit reduces the need to split large payments across multiple transfers. This saves time and effort for both senders and recipients, especially when funds are required urgently for purposes, such as education, medical expenses or other permissible overseas purposes.

 

Who can benefit from the enhanced limit?

The enhanced limit is available to:

 

  • Resident Indians sending money abroad for education, medical expenses, travel and other requirements*
  • Non-Resident Ordinary (NRO) account holders transferring money to an overseas bank account**
  • Foreign nationals working in India, remitting their earnings abroad***

 

Key things to note

 

  • *The overall annual Liberalised Remittance Scheme limit remains USD 2,50,000 equivalent per financial year (April—March).
  • TCS(Tax Collected at Source) on LRS payments will be 2% on purpose of Remittances towards Education abroad and Medical treatment. For other purposes it will be 20%.
  • The applicability of TCS will be on amount of LRS transfers beyond INR 10 lakhs in a Financial Year.
  • **The financial year limit is USD 1 million or it’s 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
  • ***Transfer amount is limited to the net salary earned in India for foreign nationals who are not permanently residing in India

 

Note: The per transaction limit for online transfers from NRE account to overseas is USD 250,000 or it’s equivalent from 10:00 a.m. IST to 03:59 p.m. IST on working days and USD 100,000 or it’s equivalent for all other days and time

Benefits of choosing ICICI Bank for overseas money transfers

  • Supports transfers in 21 currencies, with exchange rates confirmed at the time of transfer
  • Full value credit facility in USD, AUD, GBP, EUR and CAD currencies*, subject to applicable conditions
  • Simplified fee payments to pre-added and pre-validated bank accounts of select universities in the United States, United Kingdom and Australia, Canada and Europe
  • Confirmation of receipt of funds by the beneficiary/receiver
  • Simple and convenient on-time payee registration process
  • 24*7 online overseas transfer facility

 

*Full value credit up to the beneficiary bank for USD, AUD, GBP, EUR and CAD currencies remitted to their respective home countries only.

To view the applicable charges for overseas money transfers with ICICI Bank, click here.

Conclusion

With the enhanced per-transaction limit of USD 1,00,000 and its equivalent, ICICI Bank customers can now carry out permissible overseas transfers with ease and efficiency.

Disclaimer:

The contents of this article/infographic are meant solely for informational purposes. The contents are generic in nature and are not intended to serve as a substitute for specific advice on any matter whatsoever. The information is subject to updation, completion and verification and the applicable norms may keep changing materially from time to time. This information is also not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to applicable laws or would subject ICICI Bank Limited/its affiliates to any licensing or registration requirements. ICICI Bank Limited/its affiliates and their representatives shall not be liable for any direct or indirect losses or liability incurred arising in connection with any decision taken by any person on the basis of this content. Please conduct your own due diligence and consult your financial advisor before making any decision. Terms and conditions of ICICI Bank and third parties apply. ICICI Bank is not responsible for third party services. Nothing contained herein shall constitute or be deemed to constitute an advice, invitation or solicitation to avail any products/ services of third parties.

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