- Avail Fixed Rupee transfer:
- Confirmed exchange rates as applicable at the time of transaction, on sending the funds within the Rupee Transfer Validity Date.
- Exact rupee amount transfer to your receiver in India.
- Competitive exchange rates.
- Easy money transfer options:
- Electronic transfers into any ICICI Bank account with over 2,500 branches in India.
- Electronic transfers into accounts with over 75,000 bank branches of over 100 banks in India.
- Electronic transfers into any ICICI Bank remittance card account in India.
- Electronic transfers into any Resident Visa Debit Card** account issued in India.
- Demand Draft payable at many locations in India.
Money2India Exchange Rates
USA = ₹ 60.40
UK = ₹ 97.28
Australia = ₹ 52.70
Canada = ₹ 53.89
Singapore = ₹ 47.65
Hong Kong = ₹ 7.77
Switzerland = ₹ 63.47
Sweden = ₹ 8.38*Confirmed exchange rate for USA and Indicative rates for other geos for transfers of 3000 Foreign Currency Units & above as on October 20, 2014 at 11:00 am IST. Exchange rates are volatile and are subject to change. Check the Exchange Rates before initiating the transfer.
What is NetExpress?
- NetExpress (NetBanking Transfers) is a completely online money transfer service to India that enables you to transfer money using your local internet banking account in Singapore.
- Neither you nor your beneficiary needs to have an account with ICICI Bank.
- All you require is a simple one-time registration process to set you off.
- You can also send fixed rupee amounts for your fixed expenses in India.
Remittance service charge:
- No SGD charge irrespective of the amount of transaction
- Service tax will be levied on the converted gross INR amount in accordance with the Service Tax (Amendment) Rules, 2012 of the Government of India w.e.f. 1st April 2012. Please click here to know the slab wise service tax structure. This charge would be deducted from the amount to be paid to the beneficiary. For FCNR deposit requests involving currency conversion, there will be a nominal charge of USD 1 (or equivalent of the deposit currency) for FCNR deposits, deducted from the FCNR deposit amount.
How does it work?
- You must first register with Money2India.com to use NetExpress (NetBanking Transfers).
- If you are already a registered user of Money2India.com then...
- Login with your Money2India login id and click on NetExpress (NetBanking Transfers).
- Select your existing bank account from your list or select 'Add new account' to add a new bank account.
- Select an existing receiver (beneficiary) from your list or select 'Add New Receiver' to add a new beneficiary.
- You have 2 options for placing the transaction amount request. One is where you specify in foreign currency with an indicative exchange rate displayed and other is the Fixed Rupee transfer facility where you are confirmed the exchange rate for the transfer.
To avail regular NetExpress
Specify transaction amount in SGD for indicative exchange rates, kindly note that the rates mentioned are indicative. Actual exchange rate applied will be as prevailing on the date and time of conversion of your money.
To avail Fixed Rupee transfer facility
Specify transaction amount in INR for fixed Rupee rate, you will be provided a confirmed exchange rate at the time of transaction initiation, on selecting the Fixed Rupee Transfer option.
- Select your purpose of remittance from the given options.
- Preview the details you have entered. Click confirm to proceed.
- Once these details are confirmed and submitted on the next page click on 'Initiate Transfer'link that will provide you with a unique Tracking Number (e.g. M2N12345678) and the following instructions for completing your transaction:
- Log on to the Internet Banking application of DBS/POSB Bank at www.dbs.com
- Select "Bill Payment" under "Payment Services" option in the navigation menu on the left or using the "Shortcuts" list.
- On the Bill Payment page, click on the "Please select a corporation" option, choose "ICICI Bank" from the list and click "Submit".
- Next, select the account you want to make the payment from in the "From account" list, enter the Tracking Number (given above) in the "Consumer Reference No." field and enter the amount to be transferred in the "Payment Amount S$" field
- Click "Submit" at the bottom of the page to complete the money transfer request.
- After you have submitted the transaction, DBS will send a single use 'One Time Password (OTP)' to your mobile phone or message pager via SMS or message page. This OTP will be used to authorise your DBS/POSB Funds Transfer Application or Interbank Funds Transfer Application on DBS iBanking
or details on the SMS OTP, please visit: http://www.dbs.com/sg/personal/ibanking/additionalinfo/faq/paymentsvc/billpayment After completing the transfer request, you can use the Track Transfer facility (on Money2India) anytime, to check the status of your transaction.