Easy NetExpress FAQs
What is Easy NetExpress?
Easy NetExpress offers a seamless experience of complete online fund transfer facility through a single login. It is an arrangement done from any bank in UK to any bank in India with locked in competitive exchange rates. It is an easy way to transfer funds on Money2India wherein the user initiates the fund transfer request and then funds it via the payment gateway.
What are the benefits of Easy NetExpress?
- Simple & completely online process – Complete your transaction in a single session and completely online. No need to separately visit your local bank
- Locked in exchange rates – Irrespective of Exchange Rate volatility; your money will be converted at the rates communicated to you at the time of transaction.
What are the charges for Easy NetExpress?
There are no charges on transferring more than INR 1,60,000. However a nominal charge of GBP 1.99 will be levied for amounts of INR 1,60,000 or below.
Also, there are NO additional charges for using third party payment gateway for online fund transfer to our foreign currency account in the UK.
Note - 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.
What happens in case the money is not credited in my beneficiary's account or returned by beneficiary bank?
In case your beneficiary's account is not credited, the funds will be returned to your account without any undue delay. Money2India does not levy any fees for the return of funds. The money will be returned to your account as per then prevalent exchange rates, but not exceeding the original transfer amount.
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
How Money2India do ensures security of transaction and the data?
Easy NetExpress uses the services of our third party secured payment services provider to process your transfer request.
After you initiate a transfer, your details will be routed to the payment gateway service provider via a 128-bit Secure Socket Layer (SSL) connection & you would be redirected to payment gateway to process the transfer request. Sensitive information like login Id and password are not stored anywhere during the process.
What if my online fund transfer is not successful through Payment Gateway?
In case of online fund transfer through payment Gateway is not successful; your transaction will be cancelled and funds will not be debited from your local bank account. In case you are not able to complete online fund transfer then kindly use the Net Express mode.
Kindly do not fund Easy NetExpress request by manual fund transfer in our account using your netbanking
I am unable to place a Fixed Rupee transfer request. While attempting to place the request, I am getting an error that states – "We are currently unable to initiate your remittance request for sending Fixed INR amount to the receiver. Kindly try after some time. We regret any inconvenience."
The use of this channel is subject to overall daily limits on the value and volume of transactions permitted as per internal operational guidelines. ICICI Bank may change these limits at its own discretion. In the event that any of these operational limits are breached or held up, remittance through this channel will be temporarily unavailable till the permissible limits are cleared.
If you are getting this message when the India forex markets are open i.e. between 9:00 AM to 4:30 PM IST on a working day in India, then you are requested to try again in 2-3 hours.
However if you are getting this message after the closing of the India forex markets, then you will be able to avail the Fixed Rupee transfer feature on the next working day.
Kindly Note: ICICI Bank shall in no way be held responsible and/or liable for any rejections, queries or delays arising due to the temporary unavailability of this Facility.
How can I check the status of my money transfer request?
Money2India from ICICI Bank provides you an online tracking facility to find the status of the money transfer request. For each money transfer request you will be provided with a unique tracking number (e.g. M2 10643453), using which you can track the status of the request online through Track Transfer tab on Money2India Home page.
In addition, email updates will also be sent to you on the status of the money transfer request.
Money is not credited to the receiver's ICICI Bank account even though my bank account in UK has been debited. What should I do?
This may be the case, when the receiver ICICI Bank account details are invalid or the remitter's account name is not matching with registered name on Money2India. Use the Track Transfer facility on your Money2India Home page to track the status of your remittance.
Alternatively, you can also Email Us from your Money2India registered email id at email@example.com, providing your Money2India unique tracking number (e.g. M2 00012345) along with details of your query, for a resolution.
Where can I check the exchange rate offered for Easy Net Express transaction?
ICICI Bank Money2India offers you very competitive exchange rates for your transfers. You can check the prevailing confirmed exchange rates by using the Exchange Rates Calculator. Locked-in exchange rates will be also be displayed while initiating the transaction request on Money2India.
For your previous transactions; you can check details on 'Track Transfer' page in logged in section.