The country’s largest private sector lender, ICICI Bank, has launched a banking service for Indians migrated or migrating to Canada.
The 'ICICI Bank Global Banking-Hello Canada’ service offers a customer the convenience of opening a Canadian dollar 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, the bank said in a statement.
Vijay Chandok, President, ICICI Bank, said: "At ICICI Bank, we work towards addressing customer needs to make their lives simpler. Our experience of serving 1.5 million NRIs for over a decade has helped us gain better insight into the needs of the NRI. This service will facilitate the cross-border banking needs of NRIs in an easy and convenient manner.”
The service enables the 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 will also get preferential rates on these funds transfers. In addition, the customer will have easy access to their funds with a conditional withdrawal permitted on landing in Canada.