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  • Money2India Exchange Rates

    USA = ₹ 67.00


    UK = ₹ 84.87


    Australia = ₹ 50.24


    Canada = ₹ 50.73


    Singapore = ₹ 47.35


    Hong Kong = ₹ 8.59


    Switzerland = ₹ 66.49


    Sweden = ₹ 7.30


    UAE = ₹ 18.45

    *Confirmed exchange rate for Money2India USA and Indicative rates for other geos for transfers of 3000 Foreign Currency Units & above as on December 07, 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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Fixed Rupee Money Transfer

What is Fixed Rupee transfer?

  • Fixed Rupee transfer is Money2India's latest offering that takes care of exchange rate movements, meeting fixed rupee expenses/ payments in India by empowering you as follows:
  • Specify exact rupee amount to send to your receiver in India.
  • Get confirmed exchange rates at the time of transaction initiation, on sending the funds within the Fixed Rupee transfer Validity Date.

Benefits


  • No stress about volatile exchange rates – Get pre-confirmed exchange rates with online end-to-end transaction fulfillment.
    • Send money from 19 banks from Singapore, click here for the list of banks
    • Transfer time: 24 hours (Transfer in 24 hours of receipt of funds to ICICI Bank Account. Timelines exclude Saturdays, Sundays and Public Holidays in either of the country.)
    • Send the exact Rupee amount to your receiver in India
    • Get confirmed exchange rates at the time of transaction initiation, on sending the funds within the Fixed Rupee transfer Validity Date.
    • Competitive exchange rates
    • Transfer to ICICI Bank/ Non ICICI Bank account across India
    • Demand Draft payable at various locations in India.

Charges


Remittance service charge:

  • Fixed rupee the service charge is:

    No SGD charge irrespective of the amount of transaction
  • 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) for FCNR deposits, deducted from the FCNR deposit amount.

How does it work?


  • You need to do a one-time registration on Money2India to send money to India from Singapore
  • Post registration or if you are an existing user, follow the steps below

Money2India request initiation:

  1. Login with your Money2India User ID and click on NetExpress (NetBanking Transfers).
  2. Select your existing bank account from your list or select 'Add new account' to add a new bank account.
  3. Select an existing receiver (beneficiary) from your list or select 'Add New Receiver' to add a new beneficiary.
  4. You have 2 options for placing the transaction amount request:
    1. Get confirmed rate: Specify transaction amount in INR for confirmed exchange rates where you get a confirmed exchange rate
    2. Get indicative rate: Know more Specify transaction amount in SGD for indicative exchange rates, kindly note that the rates mentioned are indicative. Actual exchange rate applied will be as prevailing on the date and time of conversion of your money.
  5. Select your purpose of remittance from the given options
  6. Review the details you have entered. Click confirm to proceed.
  7. Click on 'Initiate Transfer' link that will provide you with a unique Tracking Number (e.g. M2N12345678)

    Your transfer request has been submitted and you will now need to fund your money transfer.

    Important: Please note that Fixed Rupee transfer request and the confirmed rate is applicable only if your funds are available to ICICI bank Limited, India, for processing, on or before the Validity Date with complete and correct details. In case the funds are not available within the validity date, your request will be processed as a regular request and the rate as applicable at the date and time of conversion of your funds will be applied to your transaction. The confirmed rate will not be valid for Fixed Rupee transfer requests where funds are available to ICICI Bank after the Validity Date. Upon confirmation you will be shown the transaction tracking number.

Funding the money transfer request:

  • Login to the Internet Banking application of the sender bank
  • Initiate a money transfer to our bank account with the following details:

     

    Transfer mode ‘FAST’
    Sender account number <Your local bank account number>
    Transfer amount <As per mentioned in the funding PDF>
    Recipient Name <Receiver’s name>
    Recipient Bank OCBC
    Recipient Bank Clearing/ Sort Code OCBCSGSG
    Recipient Account Number 501468664001
    Purpose of Payment Money2India Tracking no. M2NXXXXXXXX

 

Tracking the money transfer request

After completing the transfer request, you can use the Track Transfer facility to check the status of your transaction.

 

FAQs