Indian private sector bank ICICI Bank has unveiled a new outward remittance service which enables non-account holders to transfer money online from any bank account in India to any bank account overseas in 16 major currencies.
Called Money2World, the service will be available to users 24×7 on all days. Users can transfer upto an equivalent of $25,000 per year via this online platform.
With this platform, users can transfer funds at the exchange rate confirmed at the time of initiating the remittance.
"To avail this service, a user has to carry out a simple, one-time online registration on www.money2world.com by uploading her/his KYC documents, thus avoiding the hassle of visiting a bank branch to fill and submit documents for every money transfer," the bank said.
ICICI Bank president Vijay Chandok said: "Now, with ‘Money2World’, we offer a unique service to resident Indians to transfer money across the world anytime, even beyond banking hours. With this new service, we continue to live up to our commitment to offer customer centric solutions enabling quick and hassle-free money transfers."