e-Transfer Direct Debit FAQs

What is e–Transfer (ACH)?


e-Transfer (ACH) is a completely online, paperless money transfer service which enables you to send money directly from your bank account in USA to your beneficiary in India from the comfort of your home. It uses the US Automated Clearing House (ACH) network to directly transfer money.

ACH is the clearing network for electronic funds transfers in USA. Banks can process financial transactions electronically without using paper instruments such as checks using the ACH network. ACH allows a client to use a bank to initiate a debit or credit transaction on his or her bank account, subject to certain authorizations as per ACH rules.

What are the benefits of e–Transfer (ACH)?


The e-Transfer (ACH) facility provides you unique benefits:

  • Completely online: You can directly transfer money from your local bank account in the USA to your beneficiary in India. There's no need for any branch visits or paperwork
  • Easy money transfers:
      Electronic transfers into any ICICI Bank account with over 2500 branches in India
    • Electronic transfers into accounts with over 100 other banks in India.
    • Electronic transfers into any resident Visa Debit Card account in India
    • Demand Draft payable at many locations in India
  • Online tracking: You can track your request at every stage of the transaction
  • Automatic recurring money transfer: You can transfer funds automatically at regular intervals (for example, on a monthly basis).
  • Speedy transfers:
      Min amount is INR 1000 , maximum limit delivery mode wise are as follows:
      Mode of DeliveryPer Transaction and Per DayPer Week
      Demand Draft INR 1,20,000 per day INR 6,00,000

       

       Total Transaction Volume
      Daily USD 20,000 (2 transactions of USD10000 each )
      Weekly USD 20,000
      Monthly USD 30,000

      Besides the above limits, 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. 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 secure is e–Transfer (ACH)?


Besides the above limits, 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.

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 do I use e–Transfer (ACH)?


To use e-Transfer (ACH), you need to go through the following steps:

  • If you're a first-time user, you need to complete a one-time registration process where you'll have to give details of your local (ACH)bank account in USA.
  • After registration, there will be a one-time verification of your account details through internet banking module and you will be instantly able to add your Sender bank account.
  • Once your e-Transfer (ACH) account is in the enabled status on Money2India, you can start using e-Transfer (ACH) to send money to India. You have to enter relevant transaction information like details of the beneficiary, amount to be transferred, one time or a recurring payment etc.
  • You can make a transaction request (current or future dated, one-time or recurring) by availing the Fixed Rupee transfer (get confirmed exchange rates)
  • Money2India will process your payment according to the instructions entered on the website
  • You will be updated of the status of the transaction by email as well as through updates on the website 

How does the one-time registration process work?


You will need to give the following information of your bank account (ACH) in USA as a one-time activity:

  • Your bank account number
  • Your account type (consumer checking or consumer savings account)
  • Your bank's nine-digit ABA Routing Number
  • Click here to know more about the registration process

What does the account validation process involve?


You have to complete the account validation process before you can start using the e-Transfer (ACH) facility. This is to ensure that only you can transfer money from your account and prevent misuse. You can start using e-Transfer (ACH) to send money to India once you complete this process

Click here to know more about the registration process

What type of bank accounts in USA can be used for e–Transfer (ACH)?


You can use it if you have a consumer checking account or a consumer savings account with a bank affiliated to the ACH network in USA.

You can also use your consumer money market accounts for online transfers. However, banks in USA treat money market accounts differently in the case of ACH transactions. While some consider it as consumer savings accounts, others treat it as consumer checking accounts. Hence, you'll need to check with your bank in USA, as to how they classify money market accounts and accordingly select either consumer savings account or consumer checking account.

Please note that e-Transfer (ACH) cannot be used for business / commercial bank accounts. 

Do I need to be an ICICI Bank customer to use e–Transfer (ACH)?


No, you needn't be an ICICI Bank customer to use e-Transfer (ACH). What you need is a valid consumer checking / savings bank account with a bank in USA.

Can I send money to someone who doesn't have an ICICI Bank account in India?


Yes. e-Transfer (ACH) can be used to send money directly into accounts with over 100 other banks participating in the electronic credit facility provided by the Reserve Bank of India or credit to any resident Visa Debit Card account issued in India OR through request for issuance of Demand Draft payable at many locations in India. 

Is there any limit on the amount I can send through e–Transfer (ACH)?


For sending in INR:
Min amount is INR 1000 , maximum limit delivery mode wise are as follows:

Mode of DeliveryPer Transaction and Per DayPer Week
Demand Draft INR 1,20,000 per day INR 6,00,000

 

 Total Transaction Volume
Daily *INR 300000- INR 6,50,000
Monthly *INR 450000-INR 1950000

 

Please note that these limits vary based on eligibility criterion that are set as per internal policies.

 

Besides the above limits, the use of this channel is subject to overall daily limits on the value and volume of transactions permitted as per internal operational guidelines. 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.

 

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.

 

*For users registered with Money2India services after March 01,2016 , the daily/weekly transaction limit shall be INR 3,00,000 and monthly 4,50,000 INR. ICICI Bank may increase these limits as per internal confidential guidelines and the user will be informed of the revision by email.

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 can re-try in 2-3 hours to post a Fixed Rupee transfer transaction.

However if you are getting this message after the closing of the India forex markets, then you can 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.

What are the charges for using e-Transfer (ACH)?


Nominal charges levied as below:

Remittance Service charge:

A nominal USD 2 (inclusive of service tax @15%) for amounts of INR 50,000 or below charge compared to the hefty charges incurred on international wire transfers or while sending money through money transfer agents.

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. 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. 

Where can I check the exchange rate used in e-Transfer (ACH)?


For Fixed Rupee transfer:
You can check the exchange rates via the Exchange Rate Calculator link available on Money2India login page and in the logged in section. You get confirmed USD/INR rates during the course of your transaction for current dated requests.

For future dated transactions, please note that the Fixed Rupee transfer rate as applicable at the time of request initiation i.e. the request date as specified by you, will be automatically applied and the corresponding USD amount will be posted as an ACH debit into your local bank account in US.

We assure you that the exchange rates applied to your current dated Rupee Transfer are competitive and linked to market movements

Which rate is used to convert the money transferred - the rate applicable on the date of the money transfer request or otherwise?


For Fixed Rupee transfer, you get confirmed USD/INR rates during the course of your transaction for current dated requests. 

Why is the account validation process carried out?


The bank account details provided by you during the e-Transfer (ACH) registration process have to be verified as a security measure. This also ensures that only you can authorise any money transfer from your bank account.

How do I validate my bank account details?


We have certain list of bank accounts which are validated instantly through Internet banking credentials. If you fail to validate with correct credentials, We will initiate three small-value transactions of less than $1 each -- two deposits (credits) and one withdrawal (debit) -- to your bank account. The sum of the deposit equals the withdrawal, hence the balance in your bank account remains unaffected. You have to enter the two deposit amounts on the account validation page on our website. You can start using e-Transfer (ACH) only if the amounts entered by you are correct.

Please note that you have a maximum of two attempts to enter the correct account validation details. If incorrect details are entered twice, your e-Transfer (ACH) account will be temporarily blocked. You can email us at nri@icicibank.com from your Money2India registered email id, to initiate the account validation process afresh.

Click here to know more about the account validation process.

List of bank accounts through which the sender’s bank account could be instantly verified?


The banks which supports the instant validation facility are as follows: Click here

 

Which Internet banking credentials are required to validate the sender bank account?


Login id & Passwords of Sender bank account holding foreign currency needs to be inserted when requested on Money2India page. These credentials are basically used to validate the bank account instantly and make Money2India service available to you for posting transactions immediately.

 

Please Note: Do not enter Indian Bank’s internet banking password and NRE/O account held by you.

What will happen if incorrect Internet Banking passwords are entered? How many attempts are provided to validate the account?


To validate the account instantly through Internet banking, only one attempt is provided. If the user has provided incorrect credentials, the regular sub dollar verification process will be initiated and it will take 2 working days to validate the bank account.

When are the small-value transactions posted to my bank account (ACH) in USA?


In case, the accounts are not verified through Internet banking, we will send three small-value transactions of less than $ 1 each to your US bank account on the next working day from the date of registration for e-Transfer (ACH), provided the account details entered by you are correct. You will receive an email from us on the second working day informing you about the detailed account validation process. You'll have to exclude any holidays (Saturdays, Sundays and any public holidays in India or USA) while calculating the working days.

Where can I check the status of my e-Transfer (ACH) account?


You can check the status of your e-Transfer (ACH) account by selecting "My Accounts" tab on your Home page after you have logged into Money2India using your user ID and password. On the following page in the overview section, you will see the 1st tab as "e-Transfer (ACH) Accounts" under 'My Bank Accounts in United States of America'. The account added by you will be shown here with the account status.

When can I enter the account validation details on your website?


You can enter the account validation details after you receive an email from us. This email will give you details of the account validation process and will be sent to you on the second working day from the date of registration for e-Transfer (ACH).

Please read the email carefully, as it will help you to complete the account validation process successfully. Any holidays (Saturdays, Sundays and any public holidays in India or US) have to be excluded while calculating the working days.

How many attempts are allowed while entering the account validation details?


In case of verification through internet banking, we allow only one attempt to enter correct details and in case of account validation through sub dollars, we allow a maximum of two attempts to enter the correct amount details on Money2India website. If incorrect details are entered twice, your e-Transfer (ACH) account will be temporarily blocked. You can email us at nri@icicibank.com from your Money2India registered email id, to initiate the account validation process afresh. 

How do I enter the account validation details?


In case of verification through internet banking, login id and password needs to be correctly inserted when prompted for verification. In case of account validation through sub dollar process, you only need to enter the two deposit amounts (in any sequence) on our website. For example, if the two deposit amounts are $0.XX and $0.YY , you will have to enter 0.XX and 0.YY in any sequence. You will get two attempts to correctly enter the account validation details.

My bank statement shows only a single deposit. What should I do?


Your bank (ACH) in USA bank might combine the two amounts and show only a single deposit amount in your bank account statement. If this happens, please contact your bank and request them to provide the exact details of the deposit amounts.

No deposits or withdrawals have been posted to my account. What should I do?


The account validation process cannot be completed successfully if you enter incorrect account details during the e-Transfer (ACH) registration process. In such a case, the deposit and withdrawal transactions will not take place, and you will be informed about it through an email.

This may happen because of the following reasons:

  • The account number you have mentioned is either incorrect or does not match the details held by your bank
  • Your bank's ABA routing number is either incorrect or does not match the data stored in the US Federal Reserve database
  • The account type (checking/ savings) mentioned by you is either incorrect or does not match the details held by your bank

I have received a mail with a subject line that says "Transaction rejected". What does it mean?


This might happen when the bank account (ACH) details (ABA routing number, account number, account type) provided by you while registering for ACH (e-Transfer) have changed due to some reason. In such a case, your request is returned by your US bank with the return type "R". The same is informed to you through an email.

Click here to know more about "R" type returns. 

I have received a mail with a subject line that says "Modify your e-Transfer (ACH) details." What does it mean?


This might happen when the bank account (ACH) details (ABA routing number, account number, account type) provided by you while registering for ACH (e-Transfer) have changed due to some reason. In such a case, your request is returned by your US bank with the return type "C". The same is informed to you through an email.

Click here to know more about "C" type returns. 

How does the e-Transfer (ACH) process work?


The money is transferred from your bank account within 1 working day from the request date. Any unpaid requests are expected during the third or fourth working day, and only after this do we make the payment to the beneficiary. We thus receive the money in three-four working days.

If your beneficiary has an account with ICICI Bank, the money is directly transferred to the account on the fifth working day. For electronic credit to non-ICICI Bank accounts or credit to a resident Visa Debit Card account* or DDs, the money is sent for electronic clearing or a DD issued and dispatched in one additional working day after we receive the money within five working days.

You can track the status of your remittance using the 'Track Transfers' tab on the home page. An email will also be sent to you confirming the status of your remittance.

Please note that the timeline excludes banking holidays and weekends in USA and India.

Please note that the day the transaction is initiated will be considered as Day 0. However, if the remittance request is posted on a non-working day the next working day would be taken as Day 0.

When is the money transferred from my bank account?


The money is transferred from your bank account within 0-2 days from the date of the money transfer request. Please ensure that your bank account has sufficient funds to cover the money transfer request.

Any holidays (Saturdays, Sundays and any public holidays in India or USA) have to be excluded while calculating the working days.

When is the money paid to the beneficiary?


In case of credits to ICICI Bank accounts, the money is credited to the beneficiary's account with 1 working day of receiving the money.

In case of electronic credits to non-ICICI Bank accounts, the funds are sent for electronic clearing facilitated by the Reserve Bank of India that facilitates electronic transfer of funds. This takes 1 additional working day and typically the beneficiary's bank posts the credit in 1-3 working days.

For credit to a resident Visa Debit Card account* it takes 1 additional working day to send the funds for credit. The card-issuing bank typically processes these fund transfer requests in 3 working days.

In case of Demand Drafts (DDs), they are prepared and dispatched in one additional working day. The DD is dispatched to the beneficiary by courier or registered post depending upon the location. A courier delivery takes about one-four days, while registered post takes about 8-10 days.

Any holidays (Saturdays, Sundays and any public holidays in India or the USA) have to be excluded while calculating the working days.

How can I check the status of my money transfer request?


Money2India from ICICI Bank provides you an online tracking facility to monitor the money transfer status. Each money transfer request is provided a unique tracking number (e.g. M2A00043453), using which you can track its status online through "Track Transfers" facility on home page after you have logged into Money2India using your User ID and password.

In addition, regular emails are sent to update you about the status of the money transfer request.

Does e-Transfer (ACH) allow me to send money to India on a regular, monthly basis?


You can use e-Transfer (ACH) to set up a recurring money transfer request to take care of your regular money transfers. You have the convenience of sending money on a weekly or a monthly basis.

For example, if you want to send money to your family on the 1st of every month, you can set up this feature on e-Transfer (ACH) as a one-time activity using the recurring transactions facility. The processing of the transaction will be initiated on the 1st of every month. The money will be automatically transferred every month from your bank account in USA to your family in India. Please note that to set a scheduled transfer, please ensure that your scheduled transaction start date is at least 5 calendar days after you set the scheduled transfer request on Money2India. For transactions scheduled for future, please note that the Fixed Rupee transfer rate as applicable at the time of scheduled request initiation date i.e. the request date as specified by you, will be automatically applied and the corresponding USD amount will be posted as an ACH debit into your local bank account in US.

We have also provided the facility of deleting the money transfer request set up by you, in case you want to stop the money transfers.

The money that I have sent has not been credited to my beneficiary's ICICI Bank account. What should I do?


The amount will not be credited if the account number and the beneficiary's name do not match the bank details stored in the ICICI Bank system. The status of the money transfer request is accordingly updated. Please check the account number and the beneficiary's name carefully before making the money transfer request.

You can email us at nri@icicibank.com from your Money2India registered email id, to enable us to resolve your query faster.

The demand draft I sent has not reached my beneficiary. What should I do?


The delivery of the DD might be delayed if the address of the beneficiary provided by you is either incorrect or incomplete. Please provide the correct address of the beneficiary and don't forget to mention the correct PIN code and phone number of the beneficiary to ensure faster delivery.

You can email us at nri@icicibank.com from your Money2India registered email id, to enable us to resolve your query faster.

Can my bank in USA reject a money transfer request made by me using e-Transfer (ACH)?


Your bank in USA might return a money transfer request made by you using e-Transfer (ACH) for various reasons. This includes insufficient funds in your account and any change in your account status (account closed, account disabled, account type changed). Please note that your bank might levy a charge in case you do not have sufficient funds in your account to cover the amount to be transferred.

Click here to know more about the reasons for returns.

What types of returns can I receive?


There are two types of returns that your bank in USA bank might send across for an e-Transfer (ACH) request. These are:

  • Type: This type of return is sent by your bank in case your account details (account number, ABA number, account type) are incorrect or the transaction cannot be processed due to various reasons.
    Click here to know more about "R" type returns.
  • Type: This type of return is sent by your bank in case your account details (account number, ABA number, account type) have changed due to various reasons. For example, merger of your bank, closure of the branch etc.
    Click here to know more about "C" type returns

How will you inform me about the returns?


In case we receive a return for any transaction, we will inform you through an email about the action to be taken

What is an "R" type return?


In case of a "R" type return your account details (account number, ABA number, account type) do not match with your bank records and are incorrect or the transaction might have been returned for various other reasons.

Click here to know more about "R" type returns.

A transaction, which is returned with a "R" type return, cannot be processed. We inform you about any such transaction return through an e-mail.

In such cases, we request you to please email us at nri@icicibank.com from your Money2India registered email id, providing your Money2India Login ID and the registered bank account details (Bank name, ABA Routing number, last 4 digits of the Account number and Account type) which you want to enable again. We would also request you to confirm on the reason for the reject received / posting of the incorrect entries, as the case may be.

What is a "C" type return?


In case of a "C" type return your account details (account number, ABA number, account type) might have changed due to several reasons.

Click here to know more about "C" type returns.

A transaction, which is returned with a "C" type return, can still be processed. However, future requests might be returned as "R" type and would not be processed. To prevent such a scenario, we inform you about a transaction returned as a "C" type return through an e-mail. You are requested to modify the bank account details

I have received a mail with a subject line that says "Transaction rejected". What does it mean?


Your bank in USA might combine the two deposit amounts and show only a single deposit amount in your bank account statement. If this happens, please contact your bank and request them to provide the exact details of the deposit amounts.

Click here to know more about "R" type returns.

I have received a mail with a subject line that says "Modify your e-Transfer (ACH) details". What does it mean?


This might happen when the bank account (ACH) details (ABA routing number, account number, account type) provided by you while registering for e-Transfer (ACH) have changed due to some reasons. Such a case is returned by your bank with the return type "C".

Though your transaction can be processed, future requests might be returned as "R" type, i.e., they cannot be processed. The same is informed to you through an email.

Click here to know more about "C" type returns

Money2India shows the ABA number of my bank as incorrect. What should I do?


In the United States, each bank branch is provided with a unique nine-digit number by the American Bankers Association, known as the ABA number or routing number. Please check the correct ABA number with your local US bank branch. You can also find the ABA number from the check provided by your US bank. Click here to know more.

Money2India shows the ABA number of my bank as incorrect. However, my bank states that the ABA number is correct. What should I do?


Such a situation might arise if the ABA number as recorded with the Federal Reserve database does not match the ABA number as provided by your bank branch. Please contact your bank branch to get the correct ABA number as recorded in the Federal Reserve database.

I have a business checking account. Can I send money to India using e-Transfer (ACH) from this account?


e-Transfer (ACH) can only be used to send money from a consumer checking or savings account. You cannot use a business or a commercial account to send money to India using e-Transfer (ACH). This is not allowed as per e-Transfer (ACH) rules and regulations. 

I have a money market account. Can I send money to India using e-Transfer (ACH) from this account?


You can send money to India using e-Transfer (ACH) from your consumer money market accounts. However, banks in USA consider money market accounts differently for e-Transfer (ACH) transactions. Some banks consider it as consumer savings accounts, while others treat it as consumer checking accounts. Hence, you need to check with your bank how they classify money market accounts and accordingly select either consumer savings account or consumer checking account

I want to delete my e-Transfer (ACH) bank account details registered with money2india. What should I do?


You can delete the bank account registered with e-Transfer (ACH) by selecting the bank account under "e-Transfer (ACH) Accounts" on your Money2India 'My Account' page after logging in using your User Id and password. 

My registered e-Transfer (ACH) bank account is showing "Account Disabled-Incorrect Entry", as I have entered incorrect deposit amounts while validating the account. I want to re-validate the same bank account. What should I do?


In this case, please email us at nri@icicibank.com from your Money2India registered email id, with the following details:

  • Your registered US bank name
  • Last 4 digits of your US bank account number
  • ABA routing number
  • Account type

We will enable your account and initiate the account validation process afresh. On the successful completion of account validation, you can start using e-Transfer (ACH) to send money to India.

My registered e-Transfer (ACH) bank account is showing "Validation period expired". I want to re-validate the same bank account. What should I do?


In this case, please email us at nri@icicibank.com from your Money2India registered email id, with the following details:

  • Your registered US bank name
  • Last 4 digits of your US bank account number
  • ABA routing number
  • Account type

We will enable your account and initiate the account validation process afresh. On the successful completion of account validation, you can start using e-Transfer (ACH) to send money to India.

My e-Transfer (ACH) account has been disabled. What should I do?


Your e-Transfer account might be disabled for the following reasons:

  • "R" type return is received for a transaction request of yours
  • You have entered the Account Validation entries incorrectly twice

We request you to please email us at nri@icicibank.com from your Money2India registered email id, providing your Money2India Login ID and the registered bank account details (Bank name, ABA Routing number, last 4 digits of the Account number and Account type) which you want to enable again. We would also request you to confirm on the reason for the reject received/ posting of the incorrect entries, as the case may be.

On verification of details, we would enable your account or initiate the Account Validation process, as the case may be. 

My bank account has been posted with only one deposit entry. What should I do?


Your bank in USA might combine the two deposit amounts and show only a single deposit amount in your bank account statement. If this happens, please contact your bank and request them to provide the exact details of the deposit amounts. 

My bank account has been posted with the account validation entries. However, I cannot enter the same on the website. What should I do?


The account validation entries will be posted to your bank account on the second or third working day after you register for e-Transfer (ACH), provided the account details are correct. We will send you an email on the third working day, informing you about the details of the account validation process, after which you can enter the two deposit amounts on the website.

Please wait for the email and make the entries on the website after you have carefully gone through it.

Any holidays (Saturdays, Sundays and any public holidays in India or US) have to be excluded while calculating the working days. 

I have received the email to enter the account validation entries. However, no deposit or withdrawal entries have been posted to my bank account. What should I do?


We will send you an email on the third working day, informing you about the details of the account validation process. However, the deposit and withdrawal entries are posted to your bank account only if the account details (account number, ABA number, account type) are correct.

The account validation process cannot be completed if the account details are incorrect. You will be informed about the reason for the same through an email.

Any holidays (Saturdays, Sundays and any public holidays in India or US) have to be excluded while calculating the working days.

I want to send money to India on a regular basis. How can I do it?


The e-Transfer (ACH) service allows you to set up an automatic recurring money transfer request on a weekly or monthly basis. In the money transfer request, you can select the request type as "recurring", provide the frequency of recurrence in terms of months or days and the number of recurrences. Money will be automatically transferred regularly from your bank account (ACH) based on your request. Please note that to set a scheduled transfer, please ensure that your scheduled transaction start date is at least 5 calendar days after you set the scheduled transfer request on Money2India.

For example,if you want to send money every month to your family in India for the next six months, you can select the money transfer request to be a recurring facility. Select the recurring frequency as one month, and put the number of recurrences as six. Money will be automatically transferred from your bank account (ACH) every month for the next six months. For transactions scheduled for future, please note that the Fixed Rupee transfer rate as applicable at the time of request initiation i.e. the request date as specified by you, will be automatically applied and the corresponding USD amount will be posted as an ACH debit into your local bank account in US. 

I have made an e-Transfer (ACH) request, but the money has not been transferred from my bank account in USA. What should I do?


For an e-Transfer (ACH) request, the money is transferred from your bank account within 0-2 working days from the date of the request. If the money is not transferred by the third working day, it might be due to the request being returned by your bank. Click here to know more about the reasons for return.

Any holidays (Saturdays, Sundays and any public holidays in India or US) have to be excluded while calculating the working days.

Money has been transferred from my bank account, but the beneficiary has not received the money as yet. What should I do?


For an e-Transfer request, the money is transferred from your bank account within 0-2 working days from the request date. Any unpaid requests are expected during the 3rd - 4th working days and only after this do we make the payment (credit) to the beneficiary.

  • If the beneficiary has an account with ICICI Bank, the money is directly transferred to the account in 5 working days
  • In case of electronic credits to non-ICICI Bank accounts, the funds are sent for electronic clearing facilitated by the Reserve Bank of India, that facilitates electronic transfer of funds. This is done within 1 additional working day and typically the beneficiary's bank posts the credit in 1-3 working days
  • For credits to resident Visa Debit Card account* the funds are sent for credit to the card-issuing bank, which takes 1 additional day. Typically the card-issuing bank posts the credit in 3 working days
  • In case of Demand Drafts (DD), the DD is prepared and dispatched within 1 additional working day. Typically the DD delivery takes between 24-96 hours

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

Any holidays (Saturday, Sunday and any public holiday in India or US) have to be excluded while calculating the working days. Please click here to view the list of Banking holidays in India.

It has been more than five working days since my e-Transfer (ACH) request, but the money has not been credited to the beneficiary's account. What should I do?


Your request will be put on hold if the beneficiary account number and beneficiary name do not match with the ICICI Bank records. We will inform you through an email about the same.

I want to delete an e-Transfer (ACH) request. How can I do it?


You can delete a money transfer request made through e-Transfer only if the status of the request is "Request Received" i.e. before the request is processed by us. Once the status changes to "Request Under Process" or subsequent status's, the request cannot be cancelled. 

How can I check the status of my money transfer request?


Money2India from ICICI Bank provides you an online tracking facility to monitor the money transfer status. Each money transfer request is provided a unique tracking number (e.g. M2A00043453), using which you can track the status of the same online through the "Track Transfers" facility.

In addition, regular emails are sent to update you about the status of the money transfer request

I had requested a demand draft to be dispatched to the beneficiary, but the beneficiary has not received it. What should I do?


A demand draft is dispatched by either courier or registered post depending upon the location of the beneficiary. A courier delivery will take about one-four days, while registered post takes about 8-10 days.

You can also check the status of the money transfer request using the online "Track Transfers" facility on Money2India website after you log in. 

The direct electronic credit has not yet been posted to my non-ICICI Bank beneficiary's account. What should I do?


Please note that electronic credits are typically posted by the beneficiary bank within 1-3 working days. However, certain banks may take up to 7 working days to post the credit. In case there is a delay in credit to your beneficiary's account beyond 3 working days, please email us at nri@icicibank.com from your Money2India registered email id with the subject line as "Delay in Beneficiary Bank credit". Kindly mention the details of the transaction along with the Tracking Number to enable us to assist you further.

If you require any clarification please email us at nri@icicibank.com from your Money2India registered email id or call us at our 24-Hour Toll Free number 1-866-ICICI-4U in the US. 

The resident Visa Debit Card account of my beneficiary is not credited. What should I do?


The card-issuing bank typically processes the credit requests to a resident Visa Debit 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 at nri@icicibank.com from your Money2India registered email id 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.

If you require any clarification please email us at nri@icicibank.com from your Money2India registered email id or call us at our 24-Hour Toll Free number 1866-42424-48 in the US.

I have received a mail with a subject line that says "Transaction rejected". What does it mean?


There might be a case that the US bank account details (ABA Routing number, Account number, Account type) provided by you while registering for e-Transfer are incorrect. Such a case is rejected and returned by your US bank with the return type "R" and cannot be processed.

The same is informed to you through an e-mail.

Click here to know more about the "R" type returns. 

I have received a mail with a subject that says "Modify your e-Transfer (ACH) details". What does it mean?


There might be a case that the US bank account details (ABA Routing number, Account number, Account type) provided by you while registering for e-Transfer have changed due to some reasons. Such a case is returned by your US bank with the return type "C".

Though your transaction can be processed, future requests might be returned as "R" type i.e. cannot be processed. The same is informed to you through an e-mail, requesting you to modify the Account Details in e-Transfer facility.

Click here to know more about the "C" type returns.