|Time taken to send money||5 working days|
|Service Charges*||USD 2 below 50,000 INR|
|No charge above 50,000 INR|
|Recipients||ICICI Bank Account, Non ICICI Bank Account,
Visa Debit Card
Money2India Exchange Rates
USA = ₹ 66.15
UK = ₹ 81.01
Australia = ₹ 50.85
Canada = ₹ 50.22
Singapore = ₹ 47.42
Hong Kong = ₹ 8.46
Switzerland = ₹ 66.09
Sweden = ₹ 7.40
UAE = ₹ 18.15*Confirmed exchange rate for Money2India USA and Indicative rates for other geos for transfers of 3000 Foreign Currency Units & above as on October 21, 2016 at 06:00 pm IST. Exchange rates are volatile and are subject to change. Check the Exchange Rates before initiating the transfer.
e-Transfer - Money Transfer Service
What is e-Transfer?
A completely online, paperless money transfer service with an assured SERVICE GUARANTEE. If your money doesn’t reach India within 5 working days, we shall reimburse the loss on the delayed period.
- Completely online
- Competitive & locked-in exchange rates
- Automated recurring money transfer: Schedule your money transfers in advance
How does it work?
Post a one-time free registration, follow the below simple steps to send money :
Step 1: Login to your Money2India account.
Step 2: Click on “ Add my bank account” section on the left hand side of the screen.
Step 3: Enter your local bank details and and click on “Verify” button on entering the complete details.
Step 4 : You shall now be taken to the bank account verification page. Enter your local bank internet banking login credentials here.
Step 5: It takes less than a minute to verify your bank account. Please click on “Continue” button at the bottom to verify your bank account or close button cross icon on top right hand side to cancel the verification of bank account.
In case your instant account verification fails, or if your local US bank account is not instant verification enabled, you shall be taken to sub dollar verification, in which ICICI Bank will make 2 deposits of less than 1 USD and will also make 1 withdrawal of the deposited money to verify your account. The sub dollar verification process could take up to 2 working days.
Step 6 : Send money to your receiver account
- Login with your Money2India User ID
- Select "Transfer Money" tab against "e-Transfer" transfer mode on your Home page
- Select your sender account enabled for e-Transfer (in case of multiple sender accounts)
- Select the Receiver from the list to whom you wish to transfer the money:
- You get fixed Rupee Transfer facility by default
- Specify transaction amount in INR
- Select your purpose of Remittance from the given options.
- Select the date on which you wish to initiate your transfer:
- You can either select 'Now' which means the request initiation date is current date and amount will be disbursed to your Receiver in 5 working days
- You can select the 'Schedule for later' option if you wish to initiate the transfer on a future date or set-up recurring transactions.
- Once you have provided all the accurate details click on the Next button to proceed
- Verify all the details provided by you.
- If the details are accurate, then click on the Confirm button.
Please note: In case you need to make any changes in the information, click on the Back button. You will be taken back to the previous step.
- You can track the status of this transaction by visiting the “Track Transfer” option. An email would also be sent your email id confirming the status of your money transfer.
- Your e-Transfer transaction is complete now and money will be transferred in 5 working days.
- Once you click on the Confirm button you will be provided with your unique Tracking number which you can use to track your transaction online.
CANCELLATION OF MONEY TRANSFER:
You can “Cancel” your e-Transfer transaction within 30 minutes from request raised time and till your transaction is in “Request received” status. Once the status of your transaction changes to “Transaction in Process”, you will not be able to cancel this transaction. Recurring/ scheduled transfers, can be viewed under the Scheduled Transfer and Recurring Transfer tab.
If you want to send money on a regular basis (e.g. every month) you can make a recurring money transfer request.
Please Note: The above mentioned timeline excludes banking holidays and weekends in USA and India. Please click here to view the list of banking holidays in India. *Visa Money Transfer cannot be used to transfer money to NRE Account linked VISA cards.
- *A nominal USD 2 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. 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.