ICICI Bank has introduced slew of new digital facilities on its ‘Money2World’ platform, to provide improved convenience to users including those who do not have accounts with the Bank. One of the new services empower customers of other banks to complete the KYC (Know Your Customer) process via video conferencing to register themselves on M2W, an industry-first initiative.
Another new facility enables customers, having account with any other bank, to remit upto $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 enables 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’. Users of ‘Money2World’ can remit funds in 21 currencies for a host of purposes including education, maintenance of close relatives, gift and travel.
ICICI Bank is a leading private sector bank in India.
