ICICI Bank · India → UK
ICICI Bank to UK: what it actually costs to send GBP from India
At ₹1,00,000, ICICI Bank charges ₹1,360 — the 3rd-cheapest of 6 banks for GBP. Indian Overseas Bank is ₹295 cheaper.
Last updated 9 Oct 2026
Fee breakdown
- Commission ₹1,000
- GST Commission ₹180
- GST Exchange ₹180
- Total at ₹1,00,000₹1,360
GBP rate trend at ICICI Bank
Today ICICI Bank sells GBP at ₹131.4200 (TT Selling) and buys it at ₹124.8300 (TT Buying). The selling rate is +0.9500 (+0.73%) since 2 Oct and −0.5600 (−0.42%) since 1 Sep.
- 30-day TT Selling range: ₹130.2000 – ₹132.6200 across 15 refreshes.
- ₹1,00,000 bought between 754.03 and 768.05 GBP over that window, before charges.
What's specific to GBP at ICICI Bank
- Outward Remittance Commission: ₹1,000 for GBP — ICICI Bank prices USD, GBP, EUR, AUD, CAD at this level and every other currency at ₹750.
Receiving in UK
- UK accounts are identified by a 6-digit sort code and an 8-digit account number; the SWIFT/BIC code (UK banks also publish an IBAN) routes the international leg.
- Some UK banks charge a small fee for receiving an international payment; check the beneficiary's tariff. Send in GBP rather than USD so the receiving bank does not convert a second time at its own rate.
- Universities and student-housing providers often accept card or platform payments (Flywire, Convera); a bank wire is usually cheaper for a full year's tuition, but compare the platform's quoted rate with the TT Selling rates above.
The UK is 4.5 hours behind IST in summer (5.5 in winter); GBP wires sent before the Indian bank's cut-off often credit the same working day in the UK, otherwise the next.
How this compares
Indian Overseas Bank is ₹295 cheaper than ICICI Bank for sending GBP to UK.
See the full side-by-side →ICICI Bank — Things to know
Applies to:Sending money abroad through ICICI NetBanking or iMobile as a Resident Individual. Branch and NRI cases aren't modelled here.
- Home corridors cost ₹1,000 — with guaranteed delivery. Since 1 Apr 2026, USD→USA, GBP→UK, EUR→Eurozone, AUD→Australia and CAD→Canada carry a ₹1,000 commission that ICICI labels 'Full Value Credit (Guaranteed Delivery)': no intermediary deductions, the full amount reaches the beneficiary bank. Every other route is ₹750 and non-guaranteed.↗
- ₹750 routes can lose money in transit. On the ₹750 non-guaranteed routes ICICI's charges don't include intermediary or correspondent bank fees — those banks can deduct their own charges from what the recipient receives, and ICICI publishes no amount for them.↗
- Branch costs more. At a branch the ₹750 routes cost ₹1,000 and USD→USA costs ₹1,500 (vs ₹1,000 online); the other four home corridors are ₹1,000 either way.↗
- GST is charged twice. GST applies to both the commission and the currency conversion (a slab), so your total GST is more than 18% of the commission alone.↗
- TCS on large transfers. For general purposes, 20% TCS applies on LRS spending above ₹10 lakh a year — refundable as a tax credit at ITR time.
- Skip the branch. Use NetBanking or iMobile instead of a branch: ₹250 cheaper on most routes and ₹500 cheaper for USD→USA.
- Compare the ₹1,000 with other banks' OUR totals. On the five home corridors the extra ₹250 buys guaranteed full-value delivery, so weigh it against other banks' commission plus correspondent charge — not their base commission alone.
▸Show 1 more note
Other things to know
- Card-rate cap. Card rates cover up to USD 25,000 per request and are indicative — the rate at debit time is what applies; above the cap, contact the branch or your RM.↗
FAQ — ICICI Bank to UK
What is ICICI Bank's GBP rate today?
₹131.4200 per GBP is ICICI Bank's TT Selling rate today — the rate applied when you send — and ₹124.8300 is its TT Buying rate for money you receive. The selling rate is +0.9500 (+0.73%) since 2 Oct. The full sheet with a 90-day chart is on the ICICI Bank forex rates page.
How much does ICICI Bank charge to send GBP to UK?
On a ₹1,00,000 outward remittance, ICICI Bank's all-in cost today is ₹1,360 — commission, SWIFT / correspondent charges and 18% GST included, computed at the bank's own TT Selling rate for GBP. The fee breakdown above shows every line item.
Is ICICI Bank the cheapest bank to send GBP to UK?
No — Indian Overseas Bank is currently ₹295 cheaper than ICICI Bank for GBP to UK at ₹1,00,000. ICICI Bank ranks 3rd of 6 banks in our coverage for this corridor.
How long does a ICICI Bank transfer to UK take?
A standard SWIFT / TT outward remittance from ICICI Bank to a beneficiary in UK typically settles in 1–3 working days, depending on correspondent-bank routing.
What do I need to send money to UK with ICICI Bank?
You'll need PAN, a signed A2 form (LRS declaration) with a purpose code, the beneficiary's bank details in UK, and proof of source of funds for larger amounts. TCS at 20% applies above ₹10 lakh per financial year for most non-education purposes and is claimable in your ITR.
Run your own numbers
TRANSFER
You pay in INR; recipient receives USD.
Used to determine if this transfer crosses the ₹10L TCS threshold.
Best deal: Indian Overseas Bank. You save ₹3,948.89 vs the most expensive.
TT Selling rate from Indian Overseas Bank's published forex sheet — edit to model a quoted rate.
BREAKDOWN
Outward remittance
Amount being sent $1,000.00 × ₹96.89 | ₹96,890.00 |
| Outward Remittance Commission (0.075%) | ₹250.00 |
| Swift Payment Message | ₹500.00 |
| GST on Commission + Swift (18%) | ₹135.00 |
| GST on Amount Exchanged | ₹174.40 |
| Total charges | ₹1,059.40 |
| Total payable (INR) | ₹97,949.40 |
- Amount being sent
- ₹96,890.00
- Outward Remittance Commission (0.075%)
- ₹250.00
- Swift Payment Message
- ₹500.00
- GST on Commission + Swift (18%)
- ₹135.00
- GST on Amount Exchanged
- ₹174.40
- Total charges
- ₹1,059.40
$1,000.00 × ₹96.89
Total payable (INR)
₹97,949.40
Indian Overseas Bank
₹97,949.40
Cheapest
TT Selling rate from Indian Overseas Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹96.89
- ₹96,890.00
- Outward Remittance Commission (0.075%)
- ₹250.00
- Swift Payment Message
- ₹500.00
- GST on Commission + Swift (18%)
- ₹135.00
- GST on Amount Exchanged
- ₹174.40
- Total charges
- ₹1,059.40
- Total payable (INR)
- ₹97,949.40
State Bank of India
₹98,282.54
+₹333.14 vs cheapest
TT Selling rate from State Bank of India's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹97.05
- ₹97,050.00
- Branch Commission
- ₹970.50
- Correspondent Bank Charge (Remitter mode)
- ₹87.35
- GST on Amount Exchanged
- ₹174.69
- Total charges
- ₹1,232.54
- Total payable (INR)
- ₹98,282.54
ICICI Bank
₹99,466.60
+₹1,517.20 vs cheapest
TT Selling rate from ICICI Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.11
- ₹98,110.00
- Outward Remittance Commission
- ₹1,000.00
- GST on Commission (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹176.60
- Total charges
- ₹1,356.60
- Total payable (INR)
- ₹99,466.60
Kotak Mahindra Bank
₹99,697.01
+₹1,747.61 vs cheapest
TT Selling rate from Kotak Mahindra Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.34
- ₹98,340.00
- Outward Remittance Commission (Online)
- ₹500.00
- Correspondent Bank Charge
- ₹500.00
- GST on Commission + Correspondent (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹177.01
- Total charges
- ₹1,357.01
- Total payable (INR)
- ₹99,697.01
HDFC Bank
₹99,707.03
+₹1,757.63 vs cheapest
TT Selling rate from HDFC Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.35
- ₹98,350.00
- Outward Remittance Commission
- ₹1,000.00
- GST on Commission (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹177.03
- Total charges
- ₹1,357.03
- Total payable (INR)
- ₹99,707.03
Axis Bank
₹1,01,898.29
+₹3,948.89 vs cheapest
TT Selling rate from Axis Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.45
- ₹98,450.00
- Remittance Commission
- ₹1,000.00
- Correspondent Bank Charge (OUR)
- ₹1,772.10
- GST on Commission + Correspondent (18%)
- ₹498.98
- GST on Amount Exchanged
- ₹177.21
- Total charges
- ₹3,448.29
- Total payable (INR)
- ₹1,01,898.29
TCS is refundable when you file your ITR — it's a tax credit, not a fee.
Want the full picture?
- ICICI Bank Bank: all remittance charges — every corridor ICICI Bank supports, side by side
- Send money to UK from India — all 6 banks compared for GBP