ICICI Bank Money2India

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USA IND

₹ 73.48

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
₹73.48*
For Returning Users
$ Amount
₹ Exchange Rate
$0 - $300000
₹72.78*
(*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

Minhaj Mohammad
Posted on November 26, 2020, 05:54 am

Such a terrible service I have never seen this. Nothing works. M2I app is the poor app I have even seen and used. If the transactions are failed they never let you know. You need to chase them and run after

 
sku20
Posted on October 31, 2020, 08:09 pm

Terrible website, worst possible customer service, surprised they are still in business! Here are the problems: 1) Recurring deposits just do not work - they will fail mysteriously and the support team has no clue whatsoever why it failed. It will work for 9 months, 12 months and then fail. No warning will be given, no emails nothing! 2) The website will keep timing out or logging you out if you do anything at all at all the odd places suddenly - apparently this is highly secure! This can happen if you use back key or refresh or open another website. 3) They will expire your password at all odd intervals and force you to change it 4) They need your passport, ID and what not just to keep the account live 5) Their rates are worse and they have some idiotic coupons with paise off! 6) They will spam you regularly with all kinds of offers and god forbid if you want to unsubscribe - they will force you to register on their stupid do not call registry and ask you for your home address, telephone number so they can spam you even more.

 
Nimish
Posted on October 28, 2020, 12:48 pm

I had great support and overall great experience with ICICI Money2India team for my money transfer from the US and I will recommend this service.

 
Parag Palkhe
Posted on October 27, 2020, 08:07 am

I have been using several different products to remit money to India in the last 10 years. However, ICICI Money2India experience was best amongst all the products. No matter whether the amount was high or low it was credited in the Indian bank account on time and the rate was best in the industry. The customer support was very helpful. I highly recommend using ICICI Money2India if you want to remit money to India without any hassle and want a peace of mind.

 
Niral Sheth
Posted on October 19, 2020, 12:43 pm

I used 5 different companies listed on compareremit in the last 3 weeks to send money from USD to INR. ICICI is by far the slowest. Ria, XE, XOOM, and MoneyGram were faster and also had better rates depending on amount being sent. XOOM and XE very good for larger transactions and ria has best rate but limits to 2999 per day and 8K per month. After waiting one week (initiated transaction for 5K USD on Mon Oct13), I called on Monday Oct19. Got through to a supervisor who didn't know why its not gone through. He raised a service request so we'll see where that goes. Only good news is that they do respond to calls. I would be ok if they had told me it takes 5+ working days upfront but they claim otherwise. Best to avoid for now

 
Vishal Shah
Posted on October 16, 2020, 09:04 am

My experience using Money2India was more than satisfactory and exceeded my expectations. Although I had some initial difficulties in creating my account, the team helped me through the process and I was then able to wire my money very quickly. I needed to wire my money quickly as it was a time sensitive transaction and even though I began the transfer process on a Friday, I was able to get my money wired to the correct account by Tuesday afternoon (Monday was a bank holiday). The team aided me in getting my documents verified quickly and the customer service was excellent throughout the process. I would recommend Money2India and anticipate I will use their service again in the future.

 
Victor
Posted on October 16, 2020, 03:27 am

I am really surprised to see such negative reviews, however i think with clients in the uk ,there isn't a problem sending money to India. I have tried this platform only 3 times and I found the service and delivery of my money to be brilliant. As promised the money reached my bank account, within 2 working days. I am happy to give them a 5 star as they delivered what they promise. I was particularly very impressed with my relationship manager Mr Vinay Govilkar,who particularly helped me stay on track of my transaction a big help and Thank you to his excellent customer care. Will use this platform in future again

 
hima
Posted on October 15, 2020, 04:38 pm

they wont say any reason why the transaction is cancelled.In my life I never use their service

 
Raam
Posted on October 11, 2020, 10:49 pm

Please dont ever waste your time using ICICI to make the transfer between US to India account. Though their website claims they will do the transfer in 4 days, it takes 7 or 8 days to complete the transfer. Money was withdrawn from my US account 4 days back, but it has not been transferred to my India account, when asked the customer service executive told me it will take another 3 days(So in all it takes 8 days, since the time you made the transaction). The money has reached ICICI account and they keep the money with them for 4 days which gets them huge interest and profit through our money. When the money has reached their account, what stops them to make the final transfer to our destination account. Sheer malpractice! I am never ever going to do a transfer through them ever again!

 
Rohit Arora
Posted on October 03, 2020, 08:19 am

I see so many people having similar issue. Feel we should look for a way and complaint about ICICI to FDIC in US and RBI in India.

 

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