Frequently Asked Questions

ICICI Bank Singapore branch, offers remittance services to India for both, account holders and non-account holders of ICICI Bank, subject to fulfilment of the application criteria. Account holders are defined as those individuals who have an account with ICICI Bank. Non-account holders are individuals who do not have an account with ICICI Bank. Non-account holders may walk into the branch and provide supporting documents to initiate a remittance.

If you are a customer of ICICI Bank Singapore, you would be required to carry the following documents in addition to your remittance details and customer ID:

a) Identity proof: A valid document issued by a Government agency
b) If you are remitting funds greater than SGD 20,000, proof of the source of your funds which is not more than 4 days old on the day of remittance.

If you are currently not banking with ICICI Bank Singapore, you would be required to carry the following documents in addition to your remittance details:

a) Identity proof: A valid document issued by a Government agency
b) Address proof: utility or mobile bill of the last month/ bank statements of the last 3 months (Applicable for all remittance transactions regardless of amount)
c) Proof of source of funds will be required for any amount for non-account holders

• NRIC (National Registration Identity Card) / EP (Employment Pass) / WP (Work Permit) / SP (Special Pass) / PEP (Personalised Employment Pass) for residents of Singapore
• NRIC and Passport for non-residents of Singapore
• Address proof: Original utility bill or bank statement of the last 3 months
  Additional documents may be required as applicable.

After satisfactory completion of the application process, you can initiate a remittance request.

The payment methods are as follows:

• For account holders – Debit from your account with ICICI Bank or cheque deposit from other local banks favouring ICICI Bank
• For non-account holders - Network for Electronic Transfers Singapore (NETS), Fast And Secure Transfers (FAST) or deposit a cheque from other local banks favouring ICICI Bank

• Minimum amount is 100 currency units.
• Account holders of ICICI Bank can initiate a transaction without being subject to a limit.
• Non-account holders can originate a transaction with a limit of up to SGD 200,000.

ICICI Bank accepts funds through the following modes for initiating a remittance:

• NETS: Both account holders/ non-account holders of ICICI Bank can use the NETS terminal at the branch for making payment toward remittance. The limit on such transactions shall be the limit imposed by the NETS Debit Card issuing Bank (namely DBS, OCBC, UOB, Standard Chartered Bank, HSBC, Citibank, Maybank).
• Cheque: Both account holders/ non-account holders of ICICI Bank can deposit a cheque (either drawn on ICICI Bank or any other bank in Singapore) at ICICI Bank.
• Transactions for amounts above SGD 10,000 will be subject to relevant documentary submission requirements like address proof and proof of funds etc. The amount accepted will be capped as per the discretion of the Bank.
• Account debit: Only ICICI Bank account holders are eligible to use this mode of transfer. Account holders can provide their account number along with a debit mandate for initiating funds transfer by visiting the branch.

ICICI Bank will inform you via phone or e-mail (as provided on the remittance form while applying for the service) as applicable, regarding this. In case there is a request for additional information/ documentation, ICICI Bank will inform you. Depending on the mode of acceptance, the funds will be reversed.

• For ICICI Bank account holders, reversal of funds can either be by credit to their account (if remittance was initiated via debit mandate) and for cheque return, it will be by a cheque in their name (if remittance was initiated by depositing a cheque).
• For non-account holders: In case of return, a Service Request (SR) will be raised and funds will be returned to the remitter bank within 2-3 working days.

Funds will be accepted in SGD.