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ICICI Bank launches new digital facilities on Money2World: Here is what you need to know

ICICI launches new banking facilities on its online platform, ‘Money2World’ (M2W), to offer better services to customers. 

You can complete the KYC (Know Your Customer) through video conferencing using these new services.

This new platform will be integrated with ‘iMobile Pay’ to enable the 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.’

Using ‘Money2World’, one can remit funds to 21 currencies for various purposes, including education, maintenance of close relatives, gift, and travel.

Commenting on the same, Sriram H Iyer, Head – of International Banking Group, ICICI Bank, said, “We, at ICICI Bank, believe in leveraging the latest technology to bring in new and improved digital banking solutions to users of our products and services. As part of this philosophy, we offer convenient digital facilities on the ‘Money2World’ platform to our customers and customers of other banks. In an industry-first initiative, customers of any other bank in India can register on ‘Money2World’ through a secure, AI-driven, video KYC facility and start sending money abroad. They can also remit up to USD 250,000 under LRS in a financial year.”

“Further, the integration of ‘Money2World’ with ‘iMobile Pay’ app offers an enhanced convenience to our customers as it allows them to conduct transactions on the go, from their mobile phone. We believe that all the latest offerings will help customers remit funds overseas 24×7 with confirmed exchange rates, in a completely contactless, digital, and safe manner, even if they do not have an account with ICICI Bank,” he added.