FX Transfer and Payment Service

What is FX transfers Service ?


FX transfer Service provides a consolidated platform for the straight-through processing of FX transfer and SWIFT payments. Users can add beneficiaries online, perform FX conversions and route payments on a real time basis. Users can also view transaction history for all successful transactions.

What all currencies are allowed for FX transfer service?


Users can convert funds from their current account in USD, EUR, GBP, HKD (as source currencies) to USD, EUR, GBP, HKD, INR, AUD, SGD, CAD, JPY (as destination currencies). Users can simultaneously remit funds in the destination currencies to beneficiaries across the globe through the SWIFT network.

What is the transaction limit and daily transaction limit for each Client?


Our standard transaction limit & daily transaction limit for cross currency transfers are USD 100,000 USD 250,000 respectively for each client. However, these limits are subjected to change as decided by ICICI Bank from time to time.

What is the advantage of FX transfers service?


  1. You have Multi-currency online remittance platform for FX transfers.
  2. You can access live FX rates to perform FX conversions and payments through Swift network will be routed to the beneficiary bank on a real time basis.
  3. You can have easy access to transaction history with the facilties of saving and printing the Advice slip.

How can I enroll for FX transfers service?


For enrolment, please contact your Relationship Manager

Can I enter the buy/sell amount in the destination currency?


Yes, User has an option to enter the buy/sell amount in either source or destination currencies while doing transaction.

Where can I check indicative FX rates without going to transfer page?


Yes, Users can check indicative FX rates via "Indicative Foreign Exchange Rate" feature.

What will be the value date of the forex transaction that I would be initiating?


The value date would be the same day for the transactions initiated before cash cut-off of currency and would be the next business day in case transaction is initiated after cash-cut off of currency. Cut-off timings for currencies will be decided solely by ICICI Bank. For further details, you can speak to your Relationship Manager

 

For related terms and conditions please visit Terms and Conditions section of the website (http://www.icicibank.hk/gtc.page?).