ICICI Bank introduces new digital solutions

Thursday 2 June 2022 12:55 CET | News

ICICI Bank has announced the launch of an array of new facilities on its online outward remittances platform, ‘Money2World’ (M2W).

Users can now remit funds to 21 currencies for a host of purposes including education, maintenance of close relatives, gift, and travel.

One of the new services allows customers of other banks to complete the KYC (Know Your Customer) process via video conferencing to register themselves on M2W. Another new facility allows customers, having account with any other bank, to remit up to USD 250.000 in a financial year under the Liberalised Remittance Scheme (LRS), 10 times of their previous limit.

Further, ICICI Bank has integrated its mobile banking app ‘iMobile Pay’ with the M2W platform. This integration helps its customers to send money overseas, choose and set their desired exchange rate, and enter a one-time instruction to schedule recurring payments through ‘iMobile Pay’.

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Keywords: product launch, digital identity, remittances, mobile banking, digital banking
Categories: Banking & Fintech
Companies: ICICI Bank
Countries: World
This article is part of category

Banking & Fintech


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