ICICI Bank has launched an online money transfer tool. | Techno Glob

ICICI Bank today announced the launch of an online solution to enable its customers to perform SWIFT-based domestic remittances faster.

Named ‘Smart Wire’, the facility allows both NRIs and resident customers to conduct money transfer operations through online and paperless mode. ICICI Bank is the first bank in the country to introduce this fast online solution to receive domestic remittances.

Industry-first utility to initiate wire transfer request to beneficiary; to submit online declarations/documents; It allows you to pre-block exchange rates and track the status of transactions. Through this facility, Specific information relating to the beneficiary; Where necessary, local remittance and purpose of declaration is pre-captured and instantly shared with the remitter. It is family maintenance and savings; Personal gift / financial support; NRE/NRO repatriation; salary, This facility can be used for a variety of remittance purposes including business and management consultancy, allowing for smooth and seamless processing of the beneficiary’s time.

Head of Initiative at ICICI Bank – Mr. Sriram H. Iyer said, “We at ICICI Bank are committed to providing customers with innovative products and services, faster and more convenient with better services. Highest level of security. With the launch of an industry-first initiative, the ‘Smart Wire’ facility, we are offering our NRI and resident customers a unique combination of speed and rich experience of cross-border transaction processing. We are confident that this new facility will help our customers to facilitate fast and hassle-free transactions.”

Key features of the ‘Smart Wire’ facility are:

• Online submission of details: Beneficiary can generate pre-filled wire transfer request form online.
• Digital declarations: For smooth processing of transactions; The service enables the beneficiary to submit necessary details/declarations while initiating the wire transfer online.
• Blocking Exchange Rates: Beneficiary can block the exchange rate for the expected inward wire transfer. The booking facility for the deal is USD; EUR GBP AED CAD Available for SGD and AUD.
• Online Tracking: A beneficiary can track online transactions by accessing the Internet Banking portal anytime, anywhere.
• Email request for remittance: Once the beneficiary initiates the remittance request; The remitter will immediately receive the wire transfer details via system generated email.

Customers can access the ‘Smart Wire’ facility by logging into the internet banking platform.

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