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Empowering NRIs with International Wire Transfers

International Wire Transfers" is a comprehensive guide tailored for Non-Resident Indians NRIs seeking to navigate the world of cross-border financial transactions.NRI wire transfers and how to comply with relevant tax and reporting requirements.Whether it's remitting funds for family support, investment opportunities, or any other purpose, this guide equips NRIs with the knowledge and confidence to conduct seamless and secure international wire transfers.For more information visit our website - https://www.icicibank.com/nri-banking/money-transfer/wire-transfer<br>

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Empowering NRIs with International Wire Transfers

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  1. International Wire Transfer?

  2. What is an International Wire Transfer An International Wire Transfer is an electronic way to transfer money across borders through a SWIFT-based platform. Sender can initiate the International Wire Transfer online (Internet Banking offered by the Sender’s Bank) as well as offline modes (through the Sender’s Bank Branch).

  3. Benefits of International Wire Transfers Quick Convenient Secure Global Reach

  4. Considerations for International Wire Transfers Considerations for International Wire Transfers Fees: Banks may charge a fee for processing Wire Transfers. Check with your Bank for the specific charges applicable. Exchange Rates: Foreign Currency Funds will be converted as per the Exchange Rates applicable on the Date of Credit to the Customer’s Account GST: GST will be imposed on the converted Gross INR Amount in accordance to the GST Bill passed by the Government of India w.e.f. Jul 1, 2017 Correspondent Bank: Funds need to be routed through the Corresponding Bank Channel of your Bank. Check with your Bank for details.

  5. Safety Measures Enter the correct Bank Account Number & Beneficiary Name as per Bank records Mention the correct purpose of the Remittance Transaction to be initiated in Foreign Currency Receiver Bank SWIFT Code & Corresponding Bank details for the specific Currency should be mandatorily mentioned.

  6. What is Smart Wire Smart Wire is one of the fastest online solutions to receive SWIFT based Wire Transfer by NRIs and Resident Customers.

  7. Benefits of Smart Wire Quick Power of blocking Exchange Rates in advance Ease of online tracking The convenience of sending a Wire Transfer Request

  8. Conclusion International Wire Transfers offer a fast, secure, and convenient way to send money across borders.

  9. Thank You

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