Private lender, ICICI Bank has launched ‘Smart Wire’ an online solution for inward remittances.
The bank said the solution helps its customers carry out SWIFT based inward remittance in a faster and hassle-free manner. It allows both NRI and resident customers to undertake inward remittance transactions in an online and paperless way.
As per the bank, this industry-first facility enables the beneficiary to initiate the wire transfer request, submit online declaration, documents, block the exchange rates in advance and track the status of the transaction.
It added, “Through this facility, accurate information related to the beneficiary, purpose of the inward remittance and declaration, where required, are captured in advance and shared with the remitter instantly.”
Sriram H. Iyer, Head – International Banking Group, ICICI Bank said, “With the launch of ‘Smart Wire’ facility, which is an industry-first initiative, we are offering our NRI and resident customers a unique combination of speed and an enriched experience of executing a cross-border transaction. We believe this new facility will help our customers to conveniently carry out quick and hassle-free money transfers.”
