This service offers a customer the convenience of opening a Canadian Dollar (CAD) Account with ICICI Bank Canada along with an NRI (Non Resident Indian) savings account with ICICI Bank in India. The customer can open both accounts with simplified documentation by visiting his nearest ICICI Bank branch in India only once.
Vijay Chandok, President, ICICI Bank, said "Our experience of serving 1.5 million NRIs for over a decade has helped us gain better insight into their needs. This service will facilitate the cross-border banking needs of NRIs."
The service enables a customer to transfer funds in the ICICI Bank Canada account when in India, making sure his funds are safe and secure while he is in transit. The customer also gets preferential rates on these funds transfers. In addition, the customer has easy access to their funds with a conditional withdrawal permitted on landing in Canada.