ICICI Bank's Money Transfer scheme for Gulf NRIs

ICICI Bank has launched a scheme called "INSTA TRANSFER" for Gulf NRIs to enable money remittances back home within a shortest span of time. The money would be delivered within two hours and at a competitive rate.

The bank has tie ups with select exchanges houses in Qatar, Bahrain, Kuwait, UAE (Dubai), and Oman for the purpose and has plans for expansion to other exchanges.

Currently ICICI Bank has arrangements with Gulf Exchange Co, Habib Qatar International Exchange (Qatar), Bahrain Express Exchange, Zenj Exchange Co and National Finance & Exchange Co (Bahrain), The City International Exchange Co (Kuwait), Thomas Cook Al Rostamani Exchange in UAE (Dubai), Oman and UAE Exchange Centre and Purshottam Kanji Exchange Co in Oman.

For every remittance from the Gulf, a fee of 15 Dirhams is charged irrespective of the volume of transaction. Insta Transfer has in-built features to cater to such demands of its NRI customers and with a large network back home, is expected to service the account holders and beneficiaries in a big way.