How to transfer funds from ICICI Bank to Vested

by Vested Team
March 7, 2023
4 min read
How to transfer funds from ICICI Bank to Vested


Investing in the US stock market is an option for Indian investors looking to diversify their portfolio. However, to invest in US stocks, you need to transfer USD to your Vested Brokerage  account. In this blog, we will guide you through the process of transferring USD from your ICICI Bank account to your Vested Brokerage account (or more commonly known as your Vested Invest account).

How to transfer USD from ICICI Bank to Vested Brokerage account

  • Step 1: Visit the ICICI Bank website and log in to your account using your user ID or registered phone number (see Figure 1).
Figure 1: Log in to your ICICI net banking portal 
  • Step 2: Under the “Payments and Transfer” tab, select “Fund Transfer.” Select “Overseas Transfer,” and then “Send Money Now” to initiate the transfer (see Figure 2 and Figure 3).
Figure 2: Under the “Payments and Transfer” tab, select “Fund Transfer”
Figure 3: Select “Send Money Now”

Please note that Steps 3 through 8 apply only if this is your first time adding US dollars to your Vested Brokerage account. Steps 3–5 can be skipped for the subsequent transfer.

  • Step 3: Under “My Account,” select “Add New Receiver” (see Figure 4).
Figure 4: Add the receiver details
  • Step 4: Enter Receiver details as shown below (see Figure 5). This is our custodian’s bank account information where the USD will be sent to.
Figure 5: Enter the receiver details 

Please enter the following beneficiary details

Receiver Type Other than self (entity or non-individual)
Receiver Bank Country USA
Currency USD
Receiver Bank SWIFT Code CHASUS33XXX
Receiver Bank Name JPMorgan Chase Bank, National Association
Receiver Name DriveWealth LLC
Receiver Nick Name DW Broker
Receiver Account Number Please do not share this number with others. This account number is unique to you.

To get the account number:  Log into your Vested Brokerage account (via the app or the web application. Then go to the “Transfer” tab > “Add funds” > “Indian Banks” > View “General bank instructions” > see “Account number” (see Figure 5a)
Receiver Address 15 Exchange Place, 10th Floor, Jersey City, NJ
Pincode/Zipcode/Postal code 07302
Receiver Country USA
Receiver Bank Address 1111 Polaris Pkwy, Columbus, OH 43240
Figure 5a: Click this to get your Account information
  • Step 5: Verify the details by entering the OTP (One Time Password) sent to your registered mobile number (see Figure 6).
Figure 6: Submit the OTP to finalize receiver addition
  • Step 6: After you have added the receiver, you can now initiate the USD transfer. Go to the “Transfer Money” tab and choose your account to initiate the transfer (see Figure 7).
Figure 7: Select “Transfer Money” tab and choose your account to initiate the transfer
  • Step 7: Enter LRS specific details and authorize the transfer (see Figures 8 and 9). For details on how to access these fields, go to the table below.
Figure 8: Add details about the transfer
Figure 9: Add USD amount to be transferred

Add the following details to the transfer page

Purpose of Remittance under LRS Indian portfolio investment abroad – in equity shares
Further Credit to This is your DriveWealth ID. It is a 10 digit serial number that starts with a ‘V’ (for example: VSGD102XXX)
You can get your DriveWealth ID from the Profile section in the app
Name of Company Example: APPLE or AMAZON or any other publicly traded company in the US
(You can add a tentative stock name that you may invest in)
Remitter Beneficiary Relationship Investor
Type of Company Limited
Country of Incorporation USA
Listed / Unlisted Listed
Stock Exchange where listed NYSE
Number of equity shares to be acquired Enter an approximate number (e.g. 5)
Percentage of equity shares being acquired Less than 5%
Source of Fund Savings
Please select the Product (Delivery option) Guaranteed Delivery Product
Have you pre-booked a deal with CCIL? No
Total amount to be transferred (in USD) Example: 100
Promo code We have negotiated with the bank lower FX fees and are passing along the savings to you.
Benefits of using Vested promo code
Zero Service ChargeYour final exchange rate will be the prevailing exchange rate minus Rs. 0.40
Figure 10: Sample SWIFT copy

What happens after you initiate USD transfer to your Vested Brokerage with ICICI bank?

Once you submit the transaction, ICICI bank will review it. Once approved, your funds will be transferred via international SWIFT. It may take 2-3 business days before the funds are reflected in your Vested Brokerage account. Once the funds are available, you can start investing in US stocks, ETFs, and other securities through the Vested platform.

Investing in the US stock market through Vested is one of the easiest ways to diversify your portfolio. The process of transferring funds from ICICI Bank to your Vested Brokerage account is simple and straightforward. By following the above steps, you can transfer funds to your Vested Brokerage account and start investing in US stocks. We have negotiated a lower pricing with ICICI bank and have passed the savings to you. And finally, always remember to review the investment risks before making any investment decisions.

Frequently Asked Questions (FAQs):

1. What is the minimum amount I can transfer to my Vested Brokerage account from ICICI Bank?

The minimum amount for transferring funds from ICICI Bank to your Vested Brokerage account is $50. This is a requirement from ICICI Bank.

2. Can I transfer funds to a Vested Brokerage account using any other bank than ICICI Bank?

Yes, you can transfer funds to your Vested Brokerage account from any bank that allows international transfers. You can transfer using other banks such as SBI, Axis Bank, HDFC Bank, Kotak Bank and IDFC First Bank. The process and fees may vary depending on the different banks and the transfer modes. 

To download USD transfer instructions for banks other than ICICI Bank:

  • Log in to your Vested Brokerage account, select the following: Transfer > Add funds > Indian Banks > Select Bank > Download Instructions. You can also watch this video where we break down the process for you.

Alternative Investments made easy