ICICI Bank Money2India

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USA IND

₹ 74.61

UK IND

₹ 93.84

HIGHLIGHTS

ICICI Bank Ltd. (NYSE: IBN) is India's leading private sector bank. Its subsidiaries include India's leading private sector insurance firms, securities brokerage firms, mutual funds and private equity firm. ICICI Bank is one of the three domestically systemicially important banks in India as declared by the Reserve Bank of India.
Focused on creating a widespread network for customer convenience ICICI Bank has a network of over 5,275 branches and over 15,589 ATMs across India. ICICI Bank's international operations include subsidiaries in Canada and the United Kingdom; branches in USA (New York City), Bahrain, China, Dubai International Finance Centre, Hong Kong, Singapore, South Africa and Sri Lanka; and representative offices in Bangladesh, Indonesia, Malaysia and the United Arab Emirates.
ICICI Bank's Money2India is a popular online money transfer service offered to NRIs from 15 different countries via e-transfer, express e-transfer and local wire-based power transfer. Power transfer can be used to transfer amounts upto USD 300,000 per transaction or upto USD 500,000 per week. With an ever-expanding base since its launch in 2002, Money2India has become one of the preferred modes of online money transfers to India, facilitating secure and fast money transfers at confirmed exchange rates with round the clock customer service availability.


Money2India uses 128 bit Secure Socket Layer (SSL) encryption and other technologies to offer secure money transfer solutions through multiple channels like Money2India Mobile app and the Money2India website. To use this service, a user needs to complete a simple one-time online registration by accessing and can thereafter, start sending money from any bank account in their countriy to any beneficiary account with over 100 banks in India.

FEATURES (Currently showing rates for USA to IND change )

Today's Rate
For New Users Only
$ Amount
₹ Exchange Rate
$0 - $300000
₹74.61*
For Returning Users
$ Amount
₹ Exchange Rate
$0 - $300000
₹74.01*
(*exchange rates may vary from customer to customer and also depends on the amount of money transferred, USD 300,000 is the limit per transaction)
Exchange Rate Type
Locked-in
Transfer Fee
Bank Account
$ Amount
Fee
Up to $1000
$4.00
$1001 - $999999
$0
Transfer Time
Bank Deposit
5 Days
Transfer Type
  • ACH Transfer
  • Wire Transfer
Daily Transfer Limit
$0 - $25,000
Customer Service Info
866 ICICI 4U (866-424-24 48)
Company Headquarter
Mumbai, India
Company Type
Bank
Mobile App
Company Established
1994
Text Update (SMS)
Yes
Email Updates
Yes
Provider's FAQs
Referral Program
Yes
Key Feature
* High per transaction limit of USD 300,000
* Only bank to provide 1 hour transfers to ICICI Bank account 24x7, 365 days a year
Document Requirements
-

EDITORIAL REVIEW

ICICI Bank is one of the largest banks in India along with State Bank of India, Punjab National Bank, and HDFC Bank and was established in 1994 by the Industrial Credit and Investment Corporation of India (ICICI Limited), an Indian development financial institution. It has varied international experience with subsidiaries and branches all over the world.

In 2002, ICICI Bank launched its money transfer service called Money2India. It provides fixed exchange rupee transfer facility in USA. With Money2India’s Express e-Transfer and e-Transfer products,, you can send money from your checking or savings bank account in USA to the recipient’s bank account in India, Demand draft payment, making donations or transfer to various pre-registered entities. The money can be transferred to over 100 banks in India. There is an upper limit of USD 20,000 per day* if the money is sent directly to the recipient’s bank account (upto USD 300,000 per transaction for the power transfer product). The limit is higher compared to the other banks.

ICICI Bank's Money2India is the only service, which is able to send money from USA to ICICI Bank accounts within an hour**, all days of the year. So for quick transfers to ICICI Bank accounts, Money2India is the choice you should be making to send money to India.

For sending money to other bank accounts, it takes 0-24 hours to upto 5 business days. If you want to send amounts higher than USD 20,000 (USD10,000 per transaction), you can use the Power Transfer*** product by Money2India and transfer upto USD 300,000 per transaction.

Money2India also provides additional features for its users. The customer service is available by phone or by email. You can go online to track the transfer the Money2India website or use the Money2India mobile app launched in May 2013. You can also pay your bills in India through Money2India. You are not dependent on the banking hours in India to make the transfer as the service is available 24×7.

On a final note, Money2India services might be more popular among users who already have an account with ICICI bank. But because of ICICI’s reputation as banking giant, non-ICICI bank users can also use Money2India to their advantage to transfer money to India in a reliable and protected manner.

* Daily / Transactions Limits may vary from customer to customer ** Delivery time may vary for some customers ranging from within 24 hours to 5 business days *** Power transfer may require you to do a local wire transfer to the designated Money2India account

USER REVIEWS

Remit-Advice
Posted on July 05, 2020, 10:28 pm

Skrill & INSTAREM are having best promotions going on righ now. Please read full review to take the benefits. About Skrill - Best transfer rate. $10 reward on your first transfer of $100 or above when you apply the code vikashk43 while registering on Skrill. Transfer is quick (takes a few hours ususally) once account is verified. Verification may take sometime though. Since rate is great i think this is best choice for long term. About INSTAREM: $50 worth of rewards for new users when you follow these steps- While registering use the code DEntEn to get $20 worth of instapoints. Next, while making transfers user the code COMPARE30 (Expires 31st Aug.) on your first three transfers to receive $10 rewards each time. Money transfer completes in 1-2 business days once account is verified. I have been using it for last 9 months without any issues. Transfer rate is good and zero transfer fee on $1000 or above. The rate is reduced by 15 paisa when the transfer amount is between $500 and $999. there is a fee for transfer of less than $500.

 
Harish
Posted on March 23, 2020, 03:13 pm

GUYS PLEASE READ THIS BEFORE TRANSFERRING THE MONEY!!! VERY WORST SERVICE I THINK SOMETHING IS GONG ON WITH ICICI I submitted a transaction in Money2INdia on March 5 2020 (PST), the transaction went through and next day i called the customer service to cancel the transaction and got a Service Request, after 2 days the money got debited from my US bank account and again called the Cusotmer service and process the transaction (since the money was already debited from US account), after 3 days i got a email from customer service saying that the transaction is on HOLD since i requested to cancel the Transaction, then send an email confirmation to process and credit to the beneficiary account in india, and keep on calling the customer service daily to process the transaction and send several emails to customer service and myrm, but NO LUCK. the transaction amount is really a HUGE value and still it is pending. Yesterday the customer service informed me that the money is already credited, but not correct, and again he said he has sent the details to the Technical team to review. Daily i am hearing different story from the Customer service and now its march 23 and still it is PENDING.

 
ICICI Bank Money2India
Posted on March 24, 2020, 04:41 am
Dear Harish,
We are sorry about your experience with Money2India, we are focused on providing the best experience possible. Someone from our team will contact you and we will do our best to correct the issue. Please don't provide any personal or transaction details on this forum as it is an open forum and not under control of Money2India services.
ICICI Bank Money2India
Posted on March 26, 2020, 04:52 am
Dear Harish,

Money2India team has reached out to you and all your issues have been addressed and resolved to your satisfaction. Please feel free to write to us at nri@icicibank.com if you need any further assistance.

Regards, Money2India Team.
Jayesh Shah
Posted on January 11, 2020, 07:17 pm

Please do not use Money2India money transfer service. I tried to transfer USD 40 on 2nd January and as of 11 January money has not reached the recipient. They sent me service request SR658304867 asking my bank statement, proof of debit etc and I submitted all items as requested but still money has not reached recipient. Many customer service managers told me on phone they will check and call me back but no one has called me back. I was told by one manager to go to my bank and raise R07 request to recall funds. This is all lies and untrue statements . Now they are also saying that money will be auto credited into my account after 60 days. I am not sure if I will ever see my money back !!! For such a small amount I cannot understand what are the issues and how will it help ICICI bank in using my money. From the blog posts it seems they are sitting on everyone's money and not transmitting. I am very disappointed and will cancel my NRE and NRO account with ICICI bank. I just cannot trust these guys. PLEASE DO NOT USE THIS SERVICE. Hopefully someone from Money2India will read this and reply on this review.

 
Venky
Posted on November 13, 2019, 12:39 am

I have used Money2India for about 10 transactions from UK to India. While they are reliable and offer good exchange rates, it takes atleast 5-6 working days for the money to get transferred. Their own ETA says it will take a week. Not for people who are looking to transfer money urgently.

 
Irwin Buck
Posted on April 12, 2019, 04:07 am

This bank will take your money out of your account automatically using their ACH transfer but will not send to the recipient. Also they will not refund you your money giving several excuses. I'm going to sue this bank in court.

 
Sam
Posted on December 23, 2018, 06:18 pm

Compareremit states they are offering 10$ amazon gift card after first transaction, however, when checked with ICICI, they say they don't have any such promotion. Also, they ask you to upload your SSN copy, which no other site ask you to. I regret doing that now. Please don't use this icici bank for transfer.

 
Aboo
Posted on March 21, 2018, 07:09 pm

I have used Remilty andtheur customer service is awesome and service is 5 STAR. They dilievr the funds to your bank earlier than committed time. I will stick with remilty and will never go back ICICI M2I whose quality is 1 or 0 out 10 now. I used to recommend ICICI to my friends and I advise them now not to use it.

 
Narayanan
Posted on July 29, 2017, 09:53 am

Money2India is not properly working and when called customer response is very poor and the software they have is not working and not able to verify bank account even though proper information was fed.

 
Anonymous
Posted on September 21, 2016, 01:16 am

Unlike others i did not face any hassles while transferring money from UK to India.They stood up to their words and the money was credited within 2 working days in a Non-ICICI Indian bank and that too with minimal charges. The entire process doesn't take more than 5 mins once you're set up on the site. i will definitely recommend it to all.

 
RAJPATWA
Posted on June 06, 2016, 09:47 am

Extremely happy with the Express E-Transfer Facility from ICICI...per their commitment I was able to see my transferred amount in an Indian ICICI account in an hour... Though I feel the exchange rate should be little more competitive but am very happy that now i have a reliable source to transfer money if there is a URGENT need... Thank you ICICI Money2India for this fantastic facility.

 

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