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Foreign Exchange

I am travelling in the next 2 days. Can I buy Forex online?

Customers are requested to place ‘buy order’ at least 3 working days prior to the date of travel. The Travel Card and currency will be delivered in 2 working days after contacting the customer. Travel Card will be loaded in one working day after receipt of document at the branch. For any urgent requirement, please visit any ICICI Bank Forex Servicing branch. For a list of branches, please click here.

What is the minimum limit that I can order online?

Buy:

  • Minimum transaction amount: USD 500 or its equivalent. (The minimum limit per product i.e. Travel Card or Currency Notes is USD 200 or its equivalent)

Reload:

There is no minimum transaction amount restriction on Reload. 

How can I buy/ reload/ refund forex on the iMobile app/ Internet Banking?

To buy/ reload/ refund forex on the iMobile app/ Internet Banking, follow the path mentioned below:

 

Log in to iMobile> Cards, Loans & Forex > Forex and Travel Cards.

 

Log in to Internet Banking > My Accounts> Forex & Travel Cards.

Can I partially refund my card for the available balance?

Yes. You can enter the amount of foreign currency you wish to refund against the available balance. The transaction will be completed in one working day and the net amount in rupees, at the prevailing exchange rate for the day, will be credited to the chosen Savings Account.

What are the currencies in which products are available online?

We currently offer the following currencies online:

1. For Foreign currency notes: USD, EUR & GBP

2. For ICICI Bank Travel Card: USD, EUR, GBP, AUD, CAD, CHF, JPY, AED, HKD, SGD, THB, SAR, SEK, ZAR & NZD. 

What are the documents required for submission at the time of delivery of the Forex for purposes– Business Travel, Private Visit (Leisure Travel), Studies Overseas (Education), Medical Treatment, Emig

For the delivery of Forex requested, the following documents are required:

  1. Fill and sign the requisite form/s (Form A2 cum application and LRS declaration) to be submitted

  2. Submit a copy of your passport

  3. Show the original passport for physical verification

  4. In case of business travel, a copy of valid business visa has to be submitted and will be verified against original at the time of physical verification

  5. The person placing the request needs to be physically present at the location of delivery to handover the documents and receive the Forex as requested. 

Please note : Documentation and other requisites for availing the facility are subject to changes from time to time, depending on the FEMA/ internal guidelines of the bank.

For which purposes can I buy foreign exchange online through ICICI Bank?

You can purchase foreign exchange online through ICICI Bank when you are travelling overseas for any of the below mentioned purposes

  • Business Travel
  • Private Visit (Leisure Travel)
  • Education (Studies Overseas)
  • Medical Treatment
  • Emigration


 

 

I am travelling overseas next month. Can I place my order today?

Foreign exchange can be bought 180 days in advance from the proposed date of travel. Provided, you are able to produce the required documents.

Is the facility available 24X7?

This facility is available on ICICI Bank Internet Banking and iMobile round the clock. However, ICICI Bank reserves the right to have any service downtime due to technical glitches without any prior notice.

What are the things to remember while purchasing forex or reloading/ refunding travel card online?

Please keep your passport number, its expiry date and Debit Card handy while placing an order to purchase forex online. Also, don’t forget to carry your debit card, for its Grid values, to complete online reload Travel Card transactions on Internet Banking/ iMobile app when abroad.

What is the period for redemption of unutilized balance on prepaid travel cards?

In terms of para 3.4.5 of RBI master Direction-Other Remittance Facilities dated January 1, 2016, Resident Indians who purchase their travel cards, are permitted refund of the unutilized foreign exchange balance only after 10 days from the date of last transaction and accordingly, this condition is stated in the "user guide". Since these cards are expected to act as substitutes for cash / Travellers Cheques, the facilities available to the user will have to be similar. Accordingly, all such Authorised Persons shall redeem the unutilized balance outstanding in the cards immediately upon request by the resident Indians to whom the cards are issued subject to retention of:

  1. Amounts that are authorized and remain unclaimed / not settled by the acquirers as of the date of redemption till the completion of the respective settlement cycle
  2. A small balance not exceeding US$ 100, for meeting any pipeline transactions till the completion of the respective settlement cycle; and
  3. Transaction fees / service tax payable in India in Rupees
  4. For the amount that are authorized but unclaimed / not settled by the acquirer, the issuer of such cards can hold such amounts until such transactions are processed / settled by the acquirers within the prescribed settlement timeframe.

Note:
In terms of section 2(c) of Foreign exchange management Act, 1999, "authorised person" means an authorised dealer, money changer, off-shore banking unit or any other person for the time being authorised under sub-section (1) of section 10 to deal in foreign exchange or foreign securities.

Is there any prerequisite for reloading/ refunding my Travel Card online?

The Travel Card you wish to reload/ refund has to be linked to your savings account. Once linked, you can view, manage and update basic Travel Card details through ICICI Bank Internet Banking or iMobile Application.

I am an existing customer. What is the TAT for reloading online?

Travel Card will be loaded instantly on best effort basis. In case of any system issue, card will be reloaded within 1 working day of initiating request.

How do I link my Travel Card or a Travel Card of my close relative?

  • Login to Internet Banking/ iMobile App
  • Internet Banking: Click on ‘My Accounts’ & select ‘Forex and Travel Cards’
  • iMobile App: Click on ‘Cards, Loans & Forex’ & select ‘Forex and Travel Cards’
  • Click ‘Link Travel Card’ & Select ‘Self’/ ‘Close Relative’
  • Enter Travel Card number & passport number of cardholder
  • Enter mobile number & e-mail ID to send updates
  • For close relatives, upload a relationship proof, as applicable (in PDF format)
  • Submit request and note the reference number for future reference. 

Can I still continue using my card if I refund all the available balance on the card?

You are free to refund all the available balance on your card. The card will still remain active and you can reload it with a desired currency the next time you travel and continue to use it till its date of expiry.

Can I buy and avail refund of Travel Card & Currency Notes online?

Currently, Travel Cards & Currency Notes can be purchased online. You can get refund of unspent balance on Travel Card and Currency Notes at any ICICI Bank Forex Servicing branch. For the list of such branches, please click here.

 

Further you may also refund the unspent balance on your Travel Card online through internet banking or iMobile and get the refund amount credited to your linked savings account subject to compliance with extant RBI regulations.

What are the products available?

We offer two products through this platform - ICICI Bank Travel Card and Foreign Currency Notes. You may request any of these products as per your requirement.

Will there be any charges if I cancel the order I placed for purchase of forex?

In case the transaction is canceled by you, applicable differential loss arising due to forex rates fluctuation will be deducted from the amount refunded to your account. Profit if any, will not be passed on to you.

How many days prior is it advisable to order for a purchase of forex?

Please make your request for online purchase and home delivery of Foreign Currency notes and Travel Card, 3 working days before your date of travel. For any urgent requirement, please visit the nearest branch that offers forex services. To view the list of branches, please click here.

I am an NRI. Can I purchase a Travel Card for my upcoming foreign trip?

NRI customers cannot purchase Travel Card, Traveller’s Cheques or Foreign Currency notes in India.

In which cities is doorstep delivery service currently available?

Currently, this service is available only in Bengaluru, Chennai, Delhi, Hyderabad, Mumbai, Pune, Ahmedabad, Baroda, Gurugram, Noida and Chandigarh.

Can I track the status of my Forex order online?

Yes. Please use the ‘Track your Order’ option available on the ICICI Bank Internet Banking/ iMobile application.

Who are classified as close relatives? How can I order Forex for my close relative?

In addition to ‘Self’, Forex can be requested only for close relatives (Mother, Father, Spouse, Son and Daughter). Please choose the Relationship status in the online form to ‘Close Relative’ and provide the personal & travel details of the traveler. The person requesting for Forex and the traveler should sign the form jointly and have to be physically present at the time of delivery.

I had ordered forex 2 days back but have still not received it. What should I do?

You can check the status of your order through the Track your Order option on ICICI Bank Internet Banking. Alternately, you may contact our Customer Care.

Can I perform an online refund on Travel Cards linked in the capacity of close-relative?

Travel Cards linked in the capacity of close relative cannot be refunded online. If the card is not linked to any account in the capacity of ‘Self’, the customer needs to visit the nearest branch for refunding the balance on his/ her card.

While processing the transaction the server got busy and I placed the order again as no reference number was generated, but my account has been debited twice, what has to be done to recover the extra?

Please call our Customer Care. Your money shall be refunded within 7-10 working days.