The service called 'Money2India Europe' verifies the credentials of the customers over video call from Money2India Europe website. The website is owned by ICICI Bank UK Plc.
"Using this service, anyone residing in these countries can initiate money transfer round-the-clock for 365 days from their local bank account to any bank account in India in a quick and convenient manner," ICICI Bank said in a release.
The service is completely online and can be completed within 15 minutes.
It eliminates the need to courier the Know Your Customer (KYC) documents. ICICI Bank UK Plc has partnered with Inpay A/S, a global payments service provider, to bring this service to consumers in Sweden, Norway and Denmark.
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"With NRIs being away from the country, digital channel becomes a very powerful tool for them to connect with India. With the expansion of Money2India Europe, we intend to comprehensively fulfill the money transfer needs of the NRI diaspora in Sweden, Norway and Denmark," Vijay Chandok, Executive Director, ICICI Bank said.
Euro (EUR), Swedish Krona (SEK), Norwegian Krone (NOK) and Danish Krone (DKK) are the currencies allowed for money transfer service of the Bank.
Registered users can also track the status of their transfer online.
Consumers can transfer money to India within one working day for the accounts at ICICI Bank and two working days for accounts with other banks in India, it said further.