More and more people from India are going abroad to work and earn money. They support their family living in India by sending their hard earned money. According to a survey, around 6 million households in the U.S. send billions of dollars every year to the people living abroad. To transfer money from abroad to your loved ones in India, you have to visit bank and pay expensive charges. But in this modern day of technology, transferring money has become very easy, quick and convenient. You can transfer money to India with the help of Money2India. Money2India is an online money transfer service of ICICI Bank for NRIs to send money to their families, living in India from the comfort of their home.
Money2India.com’s money transfer service is safe, efficient and cost–effective. Around 10 million people have already used this service to transfer money. Users can send money (in 10 currencies) from any bank in 15 countries (USA, Canada, UK, Germany, France, Austria, Finland, Ireland, Spain, Sweden, Switzerland, Singapore, Australia, Hong Kong and UAE) to any account with more than 100 banks in India. To use this service, users don’t need to be an ICICI Bank customer but they must be 18 years old. Money2India asks you the purpose of transferring the money.
You have to choose the purpose from the given list of purposes such as gifts to family or friends, purchase of permissible real estate, travel services, payments towards tuition/ hostel fees, home loan repayment (extended by banks), credit into your non-resident deposit accounts, donations, for family maintenance, insurance premium, etc. Money2India lets users to check the status of transfer request by entering track number, delivery mode and receiver bank name & bank account number. It also provides “Fixed Rupee” transfer facility to its customers. 128-bit SSL encryption is used by Money2India to protect your personal details.
Money2India allows Automatic Recurring Money Transfer facility as well as the maximum sending limit. There are different types of transfer modes such as E-transfer, Power Transfer, Cheque Transfer. There is a maximum transaction limit (e.g. $5000/day and $15,000/week). The transfer duration depends on the transfer mode you have selected. Money2India charges $2 fee for transferring the amount below $1000 and Rs.25 from the beneficiary. It doesn’t charge fee from you if you transfer money more than $1000. It charges $2 fee for Fixed Rupee Transfers of Rs. 40,000 or less and no fee for larger amounts.
Users can transfer money through Money2India.com in few easy steps. First, users are required to create an account with the website which is absolutely free and easy. They can complete the online registration form by providing their personal details, contact details, login details and other details. After completing one-time registration, login into your account using Money2India User ID and Password. Then, choose a Bank Account from your list or add a new one. After that, you are required to choose existing beneficiary or add a new one along with the disbursal mode such as ICICI Bank account, Demand Draft, Visa card transfer, Non-ICICI Bank account, Ready cash, Remittance card and Visa Debit Card account.
Choose the suitable option “Specify in EUR” (indicative exchange rate) or “Specify in INR” (fixed exchange rate). Users those who want to book a “Fixed Rupee Transfer”, hit the “Specify in INR” option. Now, enter the rupee amount and submit the details. Then, Money2India notifies you the exchange rate that would be applied to your transfer as well as the EUR amount which you want to transfer from your bank account. On the next page, you can preview the entered details and confirm it. As you confirm and submit the details, you will get a unique Tracking Number and instructions to complete your transaction. At Money2India.com, users can also view the last 5 transaction history and set reminders about the transactions.
Pros:
- Most secure way to transfer money
- Low Cost and Best Exchange Rate
- Provides different delivery options to the receiver in India
- Online Tracking and e-mail status updates
- 24X 7 Customer Service
- No service fees above $1000
- Users can track their remittance online
- Uses 128-bit SSL encryption to protect personal information
- Provide indicative exchange rates
- Automatic recurring money transfer
- Provide Fixed Rupee transfer facility