Processing a e-Transfer Transaction

1. How does the e-Transfer process work?
2. When is the money transferred from my bank account?
3. When is the money paid to the beneficiary?
4. How can I check the status of my money transfer request?
5. Does e-Transfer allow me to send money to India on a regular monthly basis?
6. Money is not credited to the beneficiary's ICICI Bank account. What should I do?
7. The Demand Draft has not reached the beneficiary. What should I do?
8. The direct electronic credit has not yet been posted to my non-ICICI Bank beneficiary's account. What should I do?
9. The Visa card account of my beneficiary is not credited. What should I do?

1. How does the e-Transfer process work?
The money is transferred from your bank account on the 2nd or 3rd working day from the request date. Any unpaid requests are expected during the 3rd - 4th working days and only after this do we make the payment to the beneficiary.

If the beneficiary has an account with ICICI Bank, the money is directly transferred to the account in 4-5 working days. For direct credits to non-ICICI Bank accounts or credit to a Visa card account or DD's, the money is sent for electronic clearing or DD is issued and dispatched in 1 additional working day.

You can track the status of your remittance using the Track Your Remittances link under Manage in the Service home page. An e-mail would also be sent to you confirming the status of your remittance.

Please note that the timeline excludes banking holidays and weekends in USA and India. Please click here to view the list of Banking holidays in India.

Any holidays (Saturday, Sunday and any public holiday in India or US) have to be excluded while calculating the working days

In case of electronic credits to non-ICICI Bank accounts, the funds are sent for electronic clearing facilitated by the Reserve Bank of India, for electronic transfer of funds. This takes 1 additional working day and typically the beneficiary's bank posts the credit in 1-3 working days.

For credit to a Visa card account it takes 1 additional working day to send the funds for credit. The card-issuing bank typically processes these fund transfer requests in 3 working days.

In case of Demand Drafts (DD), the same is prepared and dispatched in 1 additional working day. The Demand Draft is dispatched to the beneficiary by courier or registered post depending upon the location. A courier delivery would take about 1-4 days, while Registered Post would take about 8-10 days.

Any holidays (Saturday, Sunday and any public holiday in India or US) have to be excluded while calculating the working days.

4. How can I check the status of my money transfer request?
Money2India from ICICI Bank provides you an online tracking facility to monitor the money transfer status. Each money transfer request is provided a unique tracking number (e.g. M2A00043453), using which you can track the status of the same online through Track your Remittances facility under Manage in your Services Home page after you have logged in using your Login ID and password.

In addition, regular e-mails are sent to update you about the status of the money transfer request.

For example, if you want to send money to your family on 1st of every month, you can setup this feature on e-Transfer as a one-time activity. On the 1st of every month the processing of the transaction would be initiated and the funds would be credited to the beneficiary's account. The money would be automatically transferred every month from your US bank account to your family in India.

We have provided the facility of deleting the regular money transfer request setup by you, in case you want to stop the money transfers.

6. Money is not credited to the beneficiary's ICICI Bank account. What should I do?
In case the account number and the beneficiary name does not match with the bank details stored in the ICICI Bank system, the amount would not be credited. The status of the money transfer request is accordingly updated. We request you to check the account number and the beneficiary name before making the money transfer request.

You can e-mail us at nri@icicibank.com, providing your Money2India unique tracking number
(e.g. M2A00012345) and Money2India Login ID, to enable to resolve your query faster.

7. The Demand Draft has not reached the beneficiary. What should I do?
The delivery of the Demand Draft might be delayed in case the address of the beneficiary provided by you is either incorrect or incomplete. We request you to provide the correct address of the beneficiary and especially mention the correct PIN code and phone number of the beneficiary to ensure faster delivery.

You can e-mail us at nri@icicibank.com, providing your Money2India unique tracking number (e.g. M2A00012345) and Money2India Login ID, to enable to resolve your query faster.

8. The direct electronic credit has not yet been posted to my non-ICICI Bank beneficiary's account. What should I do?
Please note that electronic credits are typically posted by the beneficiary bank within 1-3 working days. However, certain banks may take up to 7 working days to post the credit. In case there is a delay in credit to your beneficiary's account beyond 3 working days, please write to us at nri@icicibank.com with the subject line as "Delay in Beneficiary Bank credit". Kindly mention the details of the transaction along with the Tracking Number to enable us to assist you further.

If you require any clarification please do mail us at nri@icicibank.com or call us at our 24-Hour Toll Free number 1-866-ICICI-4U in the US.

9. The Visa card account of my beneficiary is not credited. What should I do?
The card-issuing bank typically processes the credit requests to a Visa card account within 3 working days. In case there is a delay in credit to your beneficiary's Visa card beyond 3 working days, please write to us at nri@icicibank.com with the subject line as "Delay in Visa card credit". Kindly mention the details of the transaction along with the Tracking Number to enable us to assist you further.

If you require any clarification please do mail us at nri@icicibank.com or call us at our 24-Hour Toll Free number 1-866-ICICI-4U in the US.