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What is a Money2India Remittance Card?
The ICICI Bank Remittance Card is the most convenient way of receiving money by a beneficiary in India who is an Indian resident. It is a rupee denominated Visa card on which the remitter outside India can send money in rupee. It allows the cardholder to withdraw cash at any ATMs and make payments at merchant establishments across India. |
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Is the Remittance Card a credit card?
The Remittance Card is not a credit card. It does not provide a credit facility to the recipient. The Remittance Card is a pre-funded card where the money is funded by overseas remitter in the card account and the card-holder can withdraw cash at any ATMs and make payments at merchant establishments across India. The card can be used only up to the extent of the money transferred to the Remittance Card Account.
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What is the Remitter Id card? What is its use and what is the difference with Money2India Remittance Card?
Remitter ID card mentions the 12 digit beneficiary account number. This is a card provided for the convenience of the remitter.
It is just an ID card that cannot be used at ATM’s or POS terminals. |
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What happens after you have given beneficiary details to ICICI Bank ?
- Your beneficiary will be contacted within 48 hours by official speaking in your mother tongue.
- Your beneficiary will be advised about Remittance Card in the mother tongue of your beneficiary.
- Our Phone Banking Officer will confirm the best time and place to meet him and collect the Application Form and the KYC documents along with the DD/PO/Cheque for INR300.
- Our Branch official will help your beneficiary to complete the Application Formalities and will issue the instant Remittance Card kit
- Your beneficiary’s Remittance Card will be activated within 48 hours
You can track the stage of your request through the reference number provided to you at the time of registering the request on www.Money2India.com |
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What happens after the forms are received by ICICI Bank?
Branch official will issue an instant Remittance Card IKIT which contains the Remittance Card for your beneficiary. The Remittance Card will be activated within next 48 hours. |
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How does the Remittance Card work?
- You can transfer funds to the beneficiary’s Remittance Card account through Money2India by adding your beneficiary Remittance Card details in the receiver drop down list while placing the remittance request.
- Beneficiary can withdraw cash at over 4,000 ICICI Banks ATMs and over 40,000 VISA ATMs in India and make purchases at over 400,000 merchant establishments in India
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How soon can the beneficiary in India use the money?
On receipt of the Remittance Card, your beneficiary can access the funds sent by you to the card account. As soon as the money is credited into the card account, your beneficiary will receive the sms alert on his registered mobile with the bank and he can start using the money immediately.
The time taken to credit the funds to the remittance card account will be as under:
- Funds transferred through e-Transfer: 5 working days
- Funds transferred through NetExpress: 1-5 working days
- Funds transferred through Power Transfer: 2-4 working days
- Funds transferred through Cheque LockBox: 1-7 working days
Please check the exact credit time applicable for your country of remittance. The time taken to credit the funds to the Remittance Card account is same as the time taken for Credit to any other ICICI Bank Account |
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Are there any limits on the money that can be transferred to a Remittance Card?
The current product wise limits will be applicable while transferring funds to the Remittance Card account of your beneficiary |
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Can my beneficiary use an ICICI Bank branch to check the balance or withdraw money using the Remittance Card?
Balance enquiries and cash withdrawals can be done through ICICI Bank ATMs. For all other service requirements your beneficiary may access the ICICI Bank 24-Hour Customer Care Centre via phone at 1800-22-4848 (Toll free within India) The access to these facilities is available 24 hours a day, 7 days a week |
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Can a withdrawal, greater than the available balance, be made from the Remittance Card?
No. Your beneficiary cannot withdraw or transact more than the balance available in the Remittance Card account |
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What are the limits on withdrawals and purchases using the Remittance Card?
The remittance card has a daily cash withdrawal / point of sale (POS) purchase limit as under:
- ATM: Rs 50,000 per day
- POS: Rs 15,000 per day
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What are the charges for the Remittance Card?
A one time processing fee of INR 300 is applicable for Remittance Cards inclusive of service Tax @ 10.36%. The fee shall be payable by the beneficiary at the time of opening the Remittance Card account.
Please note that fee paid is non-refundable and any Remittance Card Applications rejected will not be entitled to a refund of the processing fee paid |
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What happens if beneficiary has lost the Remittance Card?
Your beneficiary can call us on our Toll Free number in India 1800-22-4848 and request for a replacement Card. |
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Can I have joint account holders for a Remittance Card or apply for an add on card on Remittance Card?
No, however, you can request for seperate Remittance Cards for your beneficiaries.
(Since, this is a card issued to an individual, the card can be issued to any number of beneficiries in the family. There is no cap to the number of card per family.
Your beneficiary can call us on our Toll Free number in India 1800-22-4848 and request for a replacement Card. |
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Who should the customer call/contact in case of any queries or assistance?
For any queries or assistance required for the Remittance Card customer can call us on our Toll Free number in India 1800-22-4848. Remitter may also contact us through our Toll Free numbers applicable as per their country of residence.
Alternatively, they can Email Us from their Money2India registered email ID at quoting the Remittance Card Application ID number along with their query
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