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NetExpress (NetBanking Transfers)

You can send money from the comfort of your home or office using your local internet banking account.

Frequently Asked Questions

1. What is NetExpress (NetBanking Transfers)?
2. What are the benefits of NetExpress (NetBanking Transfers)?
3. Is it necessary for the beneficiary or me to have an account with ICICI Bank?
4. How soon will a beneficiary with an ICICI Bank account receive the money?
5. How will a beneficiary who does not have an ICICI Bank account receive the money?
6. How soon will the beneficiary get the DD?
7. How much time will it take to credit a non-ICICI Bank account?
8. For what purposes can I send money to India?
9. What are the charges for NetExpress (NetBanking Transfers)?
10. How much money can I send through NetExpress (NetBanking Transfers)?
11. Do I need to enter a new Tracking Number on my Internet banking account for every new transfer?
12. What if my online banking account does not have a ‘Remarks’ or ‘Message to Recipient’ field?
13 How long does it take to credit my beneficiary's Visa card account?


1.
 What is NetExpress (NetBanking Transfers)?

NetExpress is a completely online money transfer facility for remitters in Europe*.
Remitters having internet banking facility for their checking accounts with banks in Germany/France can use NetExpress. Additionally, only customers of banks offering the following will be able to use this facility:

  • Online third-party funds transfers/payments on their Internet banking website and,
  • A "Remarks" or "Message to Recipient" field while making the online third-party transfer, to enter the Tracking   Number generated on Money2India

*Currently available in Germany and France.
2.
 What are the benefits of NetExpress (NetBanking Transfers)?

Easy Money Transfers

  • Electronic transfers into any ICICI Bank account with over 1300 branches in India
  • Electronic transfers into accounts with over 100 other banks in India
  • Electronic transfers into any Visa Debit/ Credit Card** account in India
  • Demand Drafts issued and payable at over 2500 locations in India
  • Ready Cash payout from any of the select ICICI Bank branches in India
3.
 Is it necessary for the beneficiary or me to have an account with ICICIBank?
No. Neither the beneficiary nor the remitter needs to havean account with ICICI Bank to send money through NetExpress (NetBanking Transfers).
4.
 How soon will a beneficiary with an ICICI Bank account receive the money?
It will typically take 3 working days to credit an ICICI Bank account.
5.
 How will a beneficiary who does not have an ICICI Bank account receive the money?
NetExpress (NetBanking Transfers) can be used to send money directly into accounts
6.
 How soon will the beneficiary get the DD?
The DD will be sent to the beneficiary by courier or registered post. A courier dispatch will take 2-3 days, while registered post will take 8-10 days. You can log on to the Money2India site and track the status of your remittance
7.
 How much time will it take to credit a non-ICICI Bank account?
Non-ICICI Banks accounts will be credited typically within 2 working days after the money is sent to the beneficiary's bank.
8.

For what purposes can I send money to India?
There are many reasons why you may want to send money to India:

  • To credit your NRO/NRE savings account, NRE/NRO fixed deposits and FCNR deposits
  • To credit beneficiary's savings account
  • To support your family
  • To give gifts
  • To make investments and payments
  • To make donations
9.
 What are the charges for NetExpress (NetBanking Transfers)?
Nominal charges levied as below:

Remittance Service charge: A nominal charge of EUR 2 (inclusive of service tax @10.3%) is payable for amounts of EUR 800 or below for electronic credits into bank accounts (over 100 key banks in India), for credit to VISA card accounts and for issuing Demand drafts to over 2500 locations. No Remittance service charge applicable for higher amounts.

Ready cash payouts at select ICICI Bank branches in India for a charge of EUR 5(inclusive of service tax @10.3%).

Foreign currency conversion charge: A nominal charge of INR 25 (inclusive of service tax)will be levied on every remittance request where foreign currency conversion* is carried out on or after May 16th 2008. This charge would be deducted from the amount to be paid to the beneficiary.

*The INR 25 (inclusive of service tax) charge will be levied for disbursements in INR currency. For FCNR deposit requests involving currency conversion, there will be a nominal charge of USD 1 (or equivalent of the deposit currency ) deducted from the FCNR deposit amount.
10.

How much money can I send through NetExpress (NetBanking Transfers)?
Minimum amount:
The minimum amount you can send is EUR 100.

Maximum amount:
There is no upper limit for electronic credit to both ICICI Bank and non-ICICI Bank accounts. However, for Demand Drafts, the maximum amount that can be sent is EUR 12,000 and for ready cash, the maximum limit is EUR 650 and for Visa Money transfers, the maximum limit is EUR 600 per transaction.

Click here to know the Visa Money Transfer limits for all currencies
11.
 Do I need to enter a new Tracking Number on my Internet banking account for every new transfer?
Yes. Even if you are sending money to the same beneficiary again, you must make a fresh request on Money Transfer and enter the new Tracking Number in your Internet banking account.
12.

What if my online banking account does not have a ‘Remarks’ or ‘Message to Recipient’ field?
In that case you should send the following details by e-mail from the e-mail ID that you used to register with Money2India:

  • Overseas Bank Account Number
  • Overseas Bank Sort Code
  • Date when overseas account was debited
  • Amount that was debited from your account
  • M2N Tracking Number
  • Beneficiary Name
13.

How long does it take to credit my beneficiary's Visa card account?
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 Email Us 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.


*Please note: Visa Money Transfer cannot be used to transfer money to VISA cards linked to NRE Account.