ICICI Bank announced the launch of an online solution to help its customers make SWIFT (Society of Worldwide Interbank Financial Telecommunication) incoming remittances faster and hassle-free. Named ‘Smart wire‘, the facility allows both NRIs and resident customers to conduct remittances overseas in an online and paperless manner. ICICI Bank is the first bank in the country to introduce this faster online solution for receiving wire transfers.
ICICI Bank says the facility allows beneficiaries to make transfer requests, submit declarations/documents online, intercept exchange rates and track the status of transactions.
The Bank declares that through this facility, accurate information regarding the beneficiary, the purpose of the remittance and the declaration, whenever required, will be collected in advance and shared with the beneficiary. Instant money transfer. According to ICICI bank, this will save the time of the beneficiaries, who can use the vehicle for various remittance purposes including maintaining and saving for family, personal gifts/ financial assistance, NRE/NRO repatriation, salary consulting, business and management.
ICICI Bank says the facility allows beneficiaries to make transfer requests, submit declarations/documents online, intercept exchange rates and track the status of transactions.
The Bank declares that through this facility, accurate information regarding the beneficiary, the purpose of the remittance and the declaration, whenever required, will be collected in advance and shared with the beneficiary. Instant money transfer. According to ICICI bank, this will save the time of the beneficiaries, who can use the vehicle for various remittance purposes including maintaining and saving for family, personal gifts/ financial assistance, NRE/NRO repatriation, salary consulting, business and management.
ICICI Bank’s Smart Wire: Key Features
Here are the main features of Smart Wire:
- Submit details online: Beneficiaries can create a pre-filled bank transfer request form online.
- Digital Declaration: For seamless transaction processing, this facility allows the beneficiary to submit the requested details/declaration online while initiating the transfer transaction ∙ Block exchange rate: Person The beneficiary can block the exchange rate for the expected bank transfer. Agreement reservation facility available for
U.S. dollar EUR, GBP, AED, CAD, SGD and AUD.
- Online tracking: Beneficiaries can also track online transactions by logging into the online banking portal anytime and anywhere
- Remitter Request Email: When the beneficiary initiates a remittance request, the sender will receive the full details of the transfer instantly through the email generated by the system
Customers can use the ‘Smart Wire’ facility by logging into the online banking platform.
