ICICI Bank · India → USA
ICICI Bank to USA: what it actually costs to send USD from India
At ₹1,00,000, ICICI Bank charges ₹1,360 — the 4th-cheapest of 6 banks for USD. 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
USD rate trend at ICICI Bank
Today ICICI Bank sells USD at ₹98.1100 (TT Selling) and buys it at ₹95.1200 (TT Buying). The selling rate is +0.8100 (+0.83%) since 2 Oct and +1.8000 (+1.87%) since 1 Sep.
- 30-day TT Selling range: ₹96.9500 – ₹98.1100 across 15 refreshes.
- ₹1,00,000 bought between 1019.26 and 1031.46 USD over that window, before charges.
What's specific to USD at ICICI Bank
- Outward Remittance Commission: ₹1,000 for USD — ICICI Bank prices USD, GBP, EUR, AUD, CAD at this level and every other currency at ₹750.
Receiving in USA
- US banks identify accounts by a 9-digit ABA routing number plus the account number; the SWIFT/BIC code routes the international leg. Both go on the A2 form — a wire with only one of them is delayed or returned.
- Many US banks charge the recipient an incoming international wire fee — commonly USD 15–25 — on top of whatever the Indian bank charged. It shows up as a deduction on the US side, never on your Indian receipt.
- Universities often collect fees through Flywire or Convera rather than a direct wire; those platforms quote their own rate, so compare it with the TT Selling rates on this page before paying.
The US is 9.5–12.5 hours behind IST in summer (10.5–13.5 in winter), so a transfer initiated in the Indian morning usually reaches the US bank on the same US business day; weekends and US bank holidays add a day.
How this compares
Indian Overseas Bank is ₹295 cheaper than ICICI Bank for sending USD to USA.
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 USA
What is ICICI Bank's USD rate today?
₹98.1100 per USD is ICICI Bank's TT Selling rate today — the rate applied when you send — and ₹95.1200 is its TT Buying rate for money you receive. The selling rate is +0.8100 (+0.83%) 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 USD to USA?
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 USD. The fee breakdown above shows every line item.
Is ICICI Bank the cheapest bank to send USD to USA?
No — Indian Overseas Bank is currently ₹295 cheaper than ICICI Bank for USD to USA at ₹1,00,000. ICICI Bank ranks 4th of 6 banks in our coverage for this corridor.
How long does a ICICI Bank transfer to USA take?
A standard SWIFT / TT outward remittance from ICICI Bank to a beneficiary in USA typically settles in 1–3 working days, depending on correspondent-bank routing.
What do I need to send money to USA with ICICI Bank?
You'll need PAN, a signed A2 form (LRS declaration) with a purpose code, the beneficiary's bank details in USA, 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 USA from India — all 6 banks compared for USD