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Correspondent Bank & Its Services
ICICI Bank Canada offers fund transfers and clearing services for respondent banks through Canada’s major payments systems - the Large Value Transfer System (LVTS) and Automated Clearing Settlement System (ACSS).
LVTS facilitates electronic transfers of Canadian dollar payments across the country with guaranteed finality in near real time, and ACSS provides clearing for the majority of payments in Canada. Both systems are owned and operated by Payments Canada (formerly Canadian Payments Association), a regulated public-purpose organization which ICICI Bank Canada is a member of.
Through LVTS and ACSS, we offer efficient and reliable payment services to domestic and international financial institutions. Our services include:
SWIFT-based incoming and outgoing payment settlements