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  • Money2India Exchange Rates

    USA = ₹ 66.70


    UK = ₹ 84.28


    Australia = ₹ 50.37


    Canada = ₹ 50.73


    Singapore = ₹ 47.27


    Hong Kong = ₹ 8.59


    Switzerland = ₹ 65.92


    Sweden = ₹ 7.32


    UAE = ₹ 18.36

    *Confirmed exchange rate for Money2India USA and Indicative rates for other geos for transfers of 3000 Foreign Currency Units & above as on December 08, 2016 at 06:00 pm IST. Exchange rates are volatile and are subject to change. Check the Exchange Rates before initiating the transfer.
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Express e-Transfer

What is Express e-Transfer?

  • At Money2India, it is our endeavor to build ever-lasting & fulfilling relationship with our users. As an acknowledgement of the continuous patronage by Money2India users, we present Express e-Transfer service.
  • Designed to offer priority service to our exclusive set of loyal e-Transfer users, Express e-Transfer is an enhanced version of the regular e-Transfer product offered in Canada.
  • Transfer funds to any ICICI Bank account in India within 1 hour with .This service is available 24X7, 365 days.For transactions for which beneficiary account is held with Non ICICI Bank it may take 2 hours during Indian banking hours.Bank processing hours in India are generally: Monday – Saturday: 9 AM - 5 PM (IST) . Timelines exclude bank holidays in India.
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Benefits


Fast online transfers into ICICI Bank account in India

  • Faster Processing time
    • For Indicative Transfers: Your receiver holding ICICI Bank accounts will receive funds within 1 hour from request initiation.This service is available 24X7, 365 days. For transactions for which beneficiary account is held with Non ICICI Bank it may take 2 hours during Indian banking hours.Bank processing hours in India are generally: Monday – Saturday: 9 AM - 5 PM (IST) Timelines exclude bank holidays in India.
  • Completely online process - you can transfer funds at your convenience from anytime, anyplace.
  • Initiate money transfer using Money2India website or Mobile apps (supported on Android/iOS phones).
  • Enjoy the Express transfer benefits on your existing ACSS account on Money2India
    • Set-up post dated/ recurring requests for your regular transfer needs
    • Online tracking facility on status of funds
    • Email/ SMS alerts on money transfers to your receivers

Charges


Remittance service charge:

    For indicative: CAD 4 (inclusive of service tax @ 15%) for amounts of CAD 1500 or below.

    Service tax will be levied on the converted gross INR amount in accordance with the Finance Act, 2015 and Service Tax (Amendment) Rules, 2015 of the Government of India w.e.f. June 1, 2015. 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) deducted from the FCNR deposit amount.

Eligibility


  • We are continuously evaluating the engagement of Money2India users and specifically their e-Transfer usage behavior and based on the evaluation, select users meeting the evaluation criterion, are enabled for this service.
  • The eligible users are pro-actively informed once selected via an email. Further only such users will be able to view the Express e-Transfer product within their Money2India login section.
  • We would like to mention that the evaluation parameters are set as per our internal policies and would like to reiterate that in no way does this reflect your rating as an esteemed user of Money2India.

How does it work


  1. Step 1: Log into your Money2India account and click on the Express e-Transfer link.
  2. Step 2: Only eligible Receiver bank accounts as well as Bank (ACSS) account(s) will be displayed based on an criterion for the Express e-Transfer service. Select the Receiver and ACH account from the dropdown & enter the money transfer details.
  3. Step 3: Specify CAD amount for Indicative Rate transfer. For Indicative Rate transactions; exchange rate will be applicable as available at the time of fund conversion.
  4. Step 4: On verifying the transaction details you will receive an M2E tracking number to track the status of your funds online.

Click on the Track Transfer on Money2India Home menu to view the status of the transaction. In case you want to cancel a transaction that you have initiated, use the Cancel Transaction facility available through the Track Transfer on Money2India Home and cancel the request. This can be done within 30 minutes from the time you have initiated the request and till the request is in the Request received status.


Important: For all transactions initiated via this mode, we request you to keep your corresponding bank account in Canada sufficiently funded so that no returns/ rejects are received for the money transfer from your local bank in Canada. In the event of a reject received from your local bank, we will be disabling your e-Transfer enabled bank account on Money2India as well as the Express e-Transfer service from your Money2India User ID. Please note that any e-Transfer transaction that you have initiated from the same e-Transfer account will also be rejected.


Further if you have initiated an e-Transfer request using the Express enabled e-Transfer account and if there is a reject received on your e-Transfer request, any Express e-Transfer transaction if due for processing at the same time will be processed as an e-Transfer request with the 5 days transfer time as it is possible that we may get a return even on your Express e-Transfer request.


Please to read the Terms and Conditions for using Express e-Transfer Service.

FAQs