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SWIFT gpi Instant facility
June 9 , 2021
1069 days
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- ICICI Bank has announced has tied up with SWIFT to offer a facility that helps overseas partner banks to send instant remittances on behalf of their customers to the beneficiary in India.
- The beneficiary gets the credit to the bank account instantly.
- This makes ICICI Bank the first bank in Asia-Pacific and the second globally to offer the facility, called ‘SWIFT gpi instant’, for cross border inward payments.
- The personal remittances of up to 2 lakhs will be sent through ‘SWIFT gpi instant’.
- This can be processed instantly and credited into the beneficiary account held with any bank in India.
- It is sent via the IMPS network.
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