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ICICI Bank’s International Banking Division offers a complete range of correspondent banking services to banks and financial institutions. The products offered are as under:

Automated INR Payment Services
VOSTRO Accounts
Cross Border Trade Services
Trust and Retention Account Services
INR Agency Clearing Services


	Direct inward remittance View your VOSTRO accounts online

Automated INR Payment Services:
This product offers efficient distribution of inward remittances from exchange Houses and Banks abroad.

Web/SWIFT messaging facility
Routing of payment through our internal electronic network if the account is with any of our branches
If accounts are with other banks, distribution is achieved through bank drafts/cheques by courier
Cover funding through INR account/or through foreign currency accounts
On-line access to INR account if maintained
MT 950/940 facility
Dedicated helpdesk for backup and tracking
Convenience in funding/providing cover

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VOSTRO Accounts:
VOSTRO accounts provides INR account services to correspondent banks. All the accounts are held in a special centre located in our Nariman Point branch at Mumbai. Key features of the product are:

Access to our network spread across all major centres
Internet access to account
Web based messaging facility /SWIFT based
Customised MIS
Funding convenience
Competitive tariff

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Cross Border Trade Services:
ICICI Bank offers full range of cross border trade services to its correspondent banks. This service is available across all major destinations in India with significant foreign trade potential. We have fully integrated communication channels amongst branches, which directly helps in saving valuable time facilitating cross border transactions.

Advising and confirming of documentary letters of credit
Confirmation/reissuance of standby L Cs and guarantees
Documentary collections / open account transactions
Payment processing and distribution
Advising and confirming of documentary credits
Negotiation of documents
Computerised processing ensuring speedy services

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Trust and Retention Account Services:
ICICI Bank is one of the leading Trust and Retention (Escrow) Account service providers in India. We have a considerable experience in managing various types of Trust and Retention accounts including evolving a structure that best address the concerns of all institutions involved in financing of the project/other financing requirements. Key features of the product are:

Waterfall management of cash flows
Acting as paying and receiving agent
Foreign Exchange agent
Safekeeping and Custody for the underlying
Account administration
Cash escrows and security escrows
Pre construction and post construction management of cash flows
Investment services
Regulatory liaison
Advisory services
Electronic reporting via the Internet or specialist on-line system; Customised MIS reporting

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INR Agency Clearing Services:
ICICI Bank offers Clearing services across all major centres for facilitating clearing of their customer cheques. Key features of the product are:

Clearing of customer cheques through our code as a sub member
Facility to issue demand drafts payable across all our branches by your branch/branches
Collection of cheques/instruments through our network
Funds transfer service from other centres to your branch/branches through our network
Facility to issue bankers cheque with our sort code
Customised MIS and a dedicated helpdesk

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