ICICI launches ‘instant’ remittance service
Mumbai, October 19, 2010
ICICI Bank, India's largest private sector bank, has launched an instant cross-border money transfer service for non-resident Indians (NRIs).
I-Express, available through the ICICI Bank’s select partners in GCC, offers the remitter the option of visiting any partner outlet for instant credit into the beneficiary account maintained with ICICI Bank in India, at no extra cost.
Under this service, the funds will be instantly remitted and the beneficiary can withdraw the money immediately, a statement said.
“ICICI Bank not only offers funds transfer facility into the accounts of beneficiaries held in its own branches in India but also helps in crediting funds into accounts of beneficiaries held in over 65,000 branches of other Indian banks,” said an ICICI Bank spokesperson.
“The I-Express facility is a great benefit for recipients who have accounts with ICICI Bank in India as they will be able to receive remittances instantly,” the spokesperson added. – TradeArabia News Service