ICICI Bank International Money Transfers Review

How does ICICI Bank international money transfers work?

ICICI Bank offers three international money transfer services to send and receive money out of India:

• Fund Transfer Abroad
• Money2World
• Money2India

Fund transfer abroad

Fund Transfer Abroad works by transferring your funds abroad to recipients through ICICI Bank online banking. You can start the process of issuing a Fund Transfer Abroad request by first opening an account with ICICI Bank.

All new accounts receive a welcome kit – which contains your user ID and password. New users must also register their mobile number to complete the process.

Once all that is complete, you must fill out the Fund Transfer Abroad request form. Include the currency, name of the recipient, amount of the transaction, and purpose.

The mode of the international fund transfer will be only through the wire or telegraphic transfers only.

Money2World

Money2World is an online service by ICICI Bank that allows resident Indians to send money from any bank within the country overseas.

With Money2World, you must first register online to start your international money transfer. Then add your bank details, as well as your recipient’s bank information.  Money2World even allows you to lock the current exchange rate to prevent your cash transfer from fluctuating.

You can place your transfer order anytime, anyplace. And when the transaction is complete, you can track your order from start to finish.

Money2India

Here is your guide to sending money to India with Money2India:

1. Money2India requires that you be registered to send any international money transfers. You'll need your name, DOB, address, contact details and all bank account information.
2. Once you provide those details, the system will ask you to determine the end location of your transfer. Next, select the money transfer option that you need from the menu.
3. Click ‘Initiate Transfer’ and receive your tracking number.
4. Next, log-in to online banking for the institution you are using to transfer your funds. Apply ICICI Bank’s information as well as your recipient’s bank account number.
5. Review the details of your transaction – then send it abroad.
6. Your funds should now be en route to the recipient.

Money2India also offers two additional transfer services:

• NetExpress Fixed Rupee Transfers allows you to lock in an exchange rate for your transaction.
• NetExpress Indicative Transfers helps you view any indicative exchange rates as you place a request to transfer funds.

ICICI Bank provides wire transfers to designated areas in India through the Power Transfer service. With this product, your funds can arrive in India in 48 hours.

What are my international transfer payment options with ICICI Bank?

ICICI Bank offers bank-account-to-account transfers, cash deposits, and wire transfers.

How safe is ICICI Bank?

ICICI Bank regards client safety and convenience with great importance. Their “i-safe” application is designed to enhance the overall protection of the site. This strengthens the security of your online account with further authentication, passwords, and verification sent to the client’s mobile number.

When ICICI Bank detects wrongdoing — such as unusual account activity — it will send an alert to your mobile number on file. These warnings will prompt a one-time password for reentry.

You can view the privacy commitment of ICICI Bank here.

What exchange rates will I get from ICICI Bank?

ICICI Bank understands the unpredictable nature that foreign markets can have on currency exchanges. As a result, the institution offers competitive rates for your international money transfer needs. With the Fixed Rupee Transfer option, you can secure an exchange rate for a future money transfer.

And if you are just interested in watching the markets, ICICI Bank provides real-time updates on the foreign exchange market.

How do I send money from India to ICICI Bank?

International money transfers from ICICI Bank to abroad can be done with the Money2World service.

Here are some of the benefits of using Money2World:

• It’s a simple and quick way to send cash deposits around the globe
• You can send payments of fees, such as gifts, donations, or to support loved ones
• Choose from sixteen countries to deliver your funds.

What currencies and countries can I transfer to ICICI Bank?

The Money2India service with ICICI Bank offers a simple, efficient, and affordable international money transfer service for a variety of currencies and countries, such as:

• USD – US Dollars
• EURO – Euro
• GBP – British Sterling Pound
• SGD – Singapore Dollars
• CAD – Canadian Dollars
• AUD – Australian Dollars
• CHF – Swiss Franc
• HKD – Hong Kong Dollars
• JPY – Japanese Yen
• AED – Arab Emirates Dhiram
• SAR – Saudi Arabian Riyal
• DKK – Danish Kroner
• NOK – Norwegian Kroner
• SEK – Swedish Kroner
• QAR – Qatari Riyal
• NZD – New Zealand Dollar

Use our currency converter to learn how your cash compares to the market.

What business services does ICICI Bank offer?

ICICI Bank offers loans, credit cards, and saving accounts for Indian customers and businesses.