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ICICI Bank international money transfers review
Convenient banking services in India
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India’s largest private-sector bank, ICICI Bank offers a range of financial products and services to its customers. You’ll find everything from savings accounts and insurance to credit cards and loans.
One of those services is Money2India, a convenient, affordable way to send money from the US to India. Send money in an hour or two for as little as $3.
Get money to friends and family in India when you need it.
Money2India offers a standard ACH transfer option that guarantees delivery within five business days and an express option that delivers your cash within an hour to ICICI Bank accounts and two hours to accounts at other Indian banks.
ICICI Bank is best for:
- Money transfers to India. Money2India.com is designed to offer a secure and affordable way to send funds to India.
- Speedy transfers. Funds can arrive in your recipient’s bank account in as little as an hour or two.
- Bank account transfers. You can transfer funds to any bank account in India.
How much does it cost to transfer money with ICICI Bank?
ICICI Bank’s Money2India structure is straightforward: a low $4 fee for transfers of up to 72,330 INR (about $1,000) and no fee for higher amounts. Keep in mind that in accordance with India’s Finance Act, you will need to pay a Conversion Service Tax will apply to your transfer — from about 50 cents to about $15 combined with a maximum equivalent of 0.0145% of your total for the largest transfers.
ICICI Bank offers competitive exchange rates, which it updates regularly to reflect the changing market. It also confirms its exchange rates with the Fixed Rupee Transfer option, providing you with the security of knowing your exact rate before you send funds.
What types of transfers can I send with ICICI Bank?
Before you can send funds with ICICI Bank, you’ll first need to register for a free Money2India account by providing some personal information. You can then send your money to accounts at more than 100 Indian banks in under two hours for express transfers or up to five business days for standard transfers.
Money2India offers the following types of transfers:
- One-off transfers. Make a one-time transfer to India.
- Recurring payments. If you need to send weekly, monthly or quarterly payments to India, you can also schedule recurring payments.
Available currencies and countries
Money2India is set up to exchange your US dollars into Indian rupees to be sent to your recipient in India. You can also send money through Money2India from the following countries:
- Hong Kong
- United Arab Emerites
How do I use ICICI Bank’s Money2India?
With Money2India, you can transfer money in three easy clicks.
- Select your transaction.
- Review your transaction.
- Confirm your transaction.
What is ICICI Bank?
ICICI Bank operates the online Money2India transfer service for customers in the US, the UK, Canada, Singapore, Hong Kong, the UAE, Switzerland and Sweden. The largest private-sector bank in India, ICICI boasts total assets of $103 billion and more than 4,000 branches across India.
ICICI has won a host of awards each year, including the Asia Centre for Corporate Governance and Sustainability’s Best CSR & Sustainability Practices Award for 2016.
What other products and services does ICICI Bank offer?
From loans and credit cards to saving accounts, ICICI Bank offers a wide range of financial products and services to its customers who are Indian residents. However, its Money2India.com service is focused solely on helping people around the world send cost-effective money transfers to India.
ICICI Bank reviews and complaints
The overwhelming amount of reviews for ICICI Bank on TrustPilot fall into the “bad” category, with a TrustPilot TrustScore of 1.2 out of 5 as of October 2020.
If you need to contact ICICI Bank, you can initiate a chat online, send an email to NRI@ICICIBank.com, call 866-424-2448 or connect on Facebook @ICICIBankNriServices.
How do other providers compare to ICICI Bank?
Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to India with our money transfer partners.
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