Rupee Transfer


 NetExpress (Internet transfers) FAQ's | How it works

How does it work

Follow these step-by-step instructions to use NetExpress (Internet transfers).

You must first register with Money2India to use NetExpress (Internet transfers). Click here to register now.
If you are already a registered user of Money2India then… Login with your Money2India login Id.
  a) Click on NetExpress
 
  • Select an existing receiver (beneficiary) from your list or add a new beneficiary along with the       mode of disbursal
  • Select Country of Remittance and then click "Next"
    •   b) Rupee Transfer - Get confirmed exchange rates on request initiation
     
  • Click on the check box for availing the Rupee Transfer facility to send money to your selected       receiver.
    •   To avail the regular NetExpress facility, DO NOT click on the checkbox for Rupee Transfer.
     
  • Enter the rupee amount that you want to send to your selected receiver and select your remitter      bank name from where you will be sending the funds.
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  • Once you submit these details, for current dated transactions, we will provide you with the      confirmed exchange rate applicable to your remittance and the AUD amount that will be debited      from your bank account in Australia.
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    The next page will provide you a preview of the details you have entered. If all the details are right, click confirm
    Once these details are confirmed and submitted on the next page, you will be provided with a unique Tracking Number (e.g. M2N12345678) and the following instructions for completing your transaction:

    For remitters in Australia :
    1. Log on to the Internet banking application of your bank in Australia.
    2.
    Go to the module that enables you to pay/transfer funds to a third party account - a third party account would be an account that is not your own account and is held with some other bank in Australia
    3. In the module, do the following:
    A. Select your account from which you want to make the payment/ fund transfer.
    B. Enter the third-party account details as follows:

    Recipient Name ICICI Bank
    Recipient Bank
    JP Morgan Chase Sydney
    Recipient Bank BSB Number 212200
    Recipient Account Number 010039355

    C.
    Enter the Tracking Number in the field provided for "Message to recipient" or "Purpose of payment" or "Payment Reference".

    Please note that unless we receive the complete Tracking Number with your funds, we will not be able to process your transaction. So check with your bank (or on your bank's Web site) about which field to use to send a personalised message to the recipient.
      Important: Please note that 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 Rupee Transfer requests where funds are available to ICICI Bank after the Validity Date.
    D.
    Enter the amount to be transferred. This should be the same as the amount confirmed on the Money2India website.
    4. Confirm the third party payment/ fund transfer, to complete the money transfer request.

    After completing the transfer request, you can use the Track Your Remittance facility (on Money2India) anytime, to check the status of your transaction.

    Once the clear AUD funds are available to ICICI Bank Limited, India for processing, on or before the Validity Date provided, with complete and correct details, ICICI Bank will convert the funds into INR at the exchange rate specified for the Rupee Transfer transaction initiated and disburse the specified rupee amount (as requested by you at transaction request initiation) to your receiver in India.

    IMPORTANT: Please note that only if the funds are received in our overseas correspondent bank account on working Day 0 before the cut-off time of clearing overseas, the same is typically available to ICICI Bank Limited, India, for processing on the next working day i.e. Day1. The Validity date refers to the date of availability of funds to ICICI Bank Limited India for processing. Please note that only if the funds are received in our overseas correspondent bank account on working Day 0 before the cut-off time of clearing overseas, the same is typically available to ICICI Bank Limited, India, for processing on the next working day i.e. Day1. The Validity date refers to the date of availability of funds to ICICI Bank Limited India for processing.