Frequently Asked Questions

1. What is the facility of Electronic Credits to Non ICICI Bank Accounts?
2. How much time will it take for the funds to be credited to my beneficiary's a/c?
3. Are there any charges to use this facility?
4. What are the products that are eligible for this facility?
5. What details do I need to provide of the beneficiary to avail of this facility?
6. How many Banks are covered by this service?
7. How many cities and branches are covered by this service?
8. How do I add/modify my beneficiary details for direct credits to Non ICICI Banks?
9. Can I track the status of my remittance online?
10. How will I know that the money has been sent to my beneficiary's bank A/c?
11. In case the instructions given are incorrect, how will the transaction be processed?
12. How will I know if a transaction has not been processed by my beneficiary's bank?
13. How will ICICI Bank credit another bank's a/c?

What is the facility of Electronic Credits to Non ICICI Bank Accounts?
When you transfer funds through Money2India, ICICI Bank now offers you an option to directly credit the bank account of your beneficiary in over 100 key banks.

For a complete list of banks and Branches where this facility is available, please click here

How much time will it take for the funds to be credited to my beneficiary's a/c?
The electronic credit will be sent to your receiver's bank within 1-3 working days of ICICI Bank receiving the money. Electronic credits are typically posted by the receiver's bank within 3-7 days. The timeline excludes banking holidays and weekends in the remittance country and India.

Are there any charges to use this facility?
This service is FREE for all money transfers made through Money2India above 1000 USD or equivalent amounts. However, ICICI Bank is not responsible for charges/commission of any kind levied/charged by the Beneficiary's Bank.

What are the products that are eligible for this facility?
e-Transfer, NetExpress and Power Transfer products can be used to directly credit Non ICICI Bank Accounts.

What details do I need to provide of the beneficiary to avail of this facility?
It is very important that you give us the correct beneficiary details to process electronic credits into their account.
The beneficiary details that are very important to process the transaction are
Bank Name: The bank where your beneficiary holds an account
Beneficiary name: As appearing in their bank's records
Bank Branch: The exact branch where the A/c is held
A/c No: The exact A/c No., which should necessarily be held with the Branch chosen.

How many Banks are covered by this service?
Over 100 banks are covered under this service. For the list of Bank Branches that are covered under this service please click here

How many cities and branches are covered by this service?
Across Banks over 2300 branches are available under this service covering over 350 key locations. For the list of Bank Branches that are covered under this service please click here

Can I track the status of my remittance online?
Yes you can track your remittance using the tracking number of the transaction in the "track your remittance" option on the logged-in section of www.money2india.com

How will I know that the money has been sent to my beneficiary's bank A/c?
We will send you an email when we send the money to your beneficiary's bank. The credit to your beneficiary's a/c should happen within 1 day of us sending the funds. We will also update the status of the transaction on Money2India.

In case the instructions given are incorrect, how will the transaction be processed?
In case the receiving bank finds a mismatch in the beneficiary details, it will send us the funds back within 2 days and mark the transaction as rejected. We will request you to then send us the correct bank information after which we will send a DD to your beneficiary of the said amount. The DD/Dispatch charges would be applicable in this case if the amount is less than $1000 equivalent.

How will I know if a transaction has not been processed by my beneficiary's bank?
In an exceptional situation if the transaction is sent back by your beneficiary's bank, we will immediately inform you of the same by email and update the transaction status on Money2India. This situation will arise only if the Beneficiary name, Bank or Branch details provided are incorrect.

We will then request you to verify the beneficiary bank details and provide us the correct information. After that we will dispatch the funds to your beneficiary by way of a Demand Draft. Draft issuance charges would be deducted from the payment amount in case the amount is lower than $1000 equivalent.

How will ICICI Bank credit another bank's a/c?
The Reserve Bank of India offers electronic credit facility for select branches of key banks in India. This service enables ICICI Bank to effect electronic funds transfer to such networked branches. If your beneficiary has an account with any of the bank branches, which are networked under this facility, then they can avail of this service.