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1:31 am EDT
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Money2India Money Transfer from SEB Sweden to ICICI Bank India

Hi,
As everybody knows that there is NO transaction is happening from Nordea to ICICI bank. I tried to raise one by using money2india, with in three days the money is sent back to my SEB account stating nothing. Now have done a direct transfer from my SEB bank account by giving the bic code of ICICI Bangalore. However its been alost 5 days and I do not see any updates nor money been transferred to my Indian ICICI bank account. I dont know where the money is gone. When I ask the SEB they say the money is already send to ICICI bank india. And i do not see any updates from ICICI bank regarding this. Can you please look into this issue and reply me. I have already sent mails to care and nri mail ids. I haven't got any replies :(

regards
Nagendra

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9:48 pm EDT
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Money2India Modern day Thieves

Worst experience of my life dealing with an bank.
I transferred a large amount of money from US to my sister account in ICICI in India. I used first time power transfer service of money2india. Money was debited from my account next day to their local bank in New York. They mention that once credited your account, it takes three business day to reach in India. However after one week I did not see money being transferred to my sister account. I called their customer care number (beware this as call directs to call center not some ICICI bank person) and those stupid ###s kept telling do not worry it would transfer next day which never happened. After few days they told me to send all the detail to [protected]@icicibank.com with all the details which I did and guy at call center first told me that I would get email reply in 24 hours then next day he told me 48 hours. Surprisingly I got mail after 48 hours and you know what they mentioned in the mail, guess? they wrote it would take another one week to write in email why my transferred in delay? ### should have told me before. I wish there would be a physical branch of ICICI in US, I would have trashed these people and would have sued them. I feel so helpless because of these thugs. Please do not send money through money2india.com. They should pay my money with all the interest accrued for keeping for extra days.

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testram
London, GB
Jan 18, 2013 7:55 am EST

Worst experience.They just claim to give you some rate and end of the day they hold on your account with less exchange rate.
I transferred days back for 86.9 GBP/INR and actual amount credited was in the rate of 85.1 which was disgusting.

Please dont use their service.

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Anonymoussss
Birmingham, US
Oct 02, 2012 8:51 am EDT

I used e-transfer which should take 5 business days. They took 14 days to transfer. This happened couple of times in a row. It is definitely not a better experience to use this service. ICICI used to be better couple of years back when i used to transfer to an ICICI bank in India. Now, transferring to non-ICICI bank just seems to be hassle.

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Sethupathy
Miami, US
Sep 26, 2012 11:13 am EDT

Same Experience for me as well...Dont ever use ICICI money2india service..Complete fraud and unfair business practices. Those call center persons are bunch of trash gives the same information like cut and paste. Basically they are stealing the money for no interest and lock with them for some time. This is their tactics to live with others money. Actually in UNITED STATES this kind of act is protected by FDIC law and Electronic fund transfer act. All we need to find a senator or congress man to take this matter and prosecute then under federal law. No i dont think they are not bide by US laws. Bank of New York is their operational branch for fund transferring services. I think everyone should come up and talk on this. If any one interested just let me know. i like to organize and mobilize resources for this cause. They should bring down to books. I will encourage peoples to update this fraud practices of ICICI in all facebook, twitter and google +. I did this and find lot of peoples in this menace..all we need to organize this peoples and hit them legally.

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Aditya_Belgium
, BE
Apr 24, 2012 8:59 pm EDT
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Hi, Even I'm facing similar experience with the Money2India Europe service. No result in the status after 10 days. Completely useless service and I strongly recommend everybody not to use it.

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8:41 am EDT
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Money2India ICICI Bank (Money 2 india) & Nordea Bank, Sweden

Dear Money2india,
I think you are already aware of this problem. But I couldnt able to see any progress on this issue from ICICI-money2india. My colleagues, friends and myself tried transferring the money from SEB to Indian bank through money2india in past 25 days. Everyone faced the same issue, money got reverted back to the SEB accounts with in 3 days without mentioning any reason. Some people tried contacting money2india customer care and some people sent mails to [protected]@icicibank.com. As expected, we got stupid replies from customer care people saying that they have not received the money at all and issue may be with SEB bank. After sending multiple mails, we got reply from [protected]@icicibank.com bank saying that they are having some issue with Nordea and they are working towards solving it.
Common you should have the proper escalation system and should solve these type of issues on priority. You dont know how many people are struggling here without having any information about whats happening and why they are getting their money back. You should inform to customer about the issue and status of the same. If you dont care about customer satisfaction, Why the hell you guys do the business...
In the past also, i have seen hell lot of issues like this and some complaints in complaintsboard.com as well.
if you people doesn't even care about the concerns of their customers..why the hell you are offering such services...you people even doesn't try to learn to improve their service and I am really pissed off with such a service being prolonged even today ...Really this should be a serious eye opener to these ICICI bank people...either they have to improve their services or shut down their got damn services...

Read full review of Money2India and 18 comments
Update by Bhanuprasad K
Apr 03, 2012 12:58 am EDT

I just sent my contact information to you.

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Y.Anuradha
, IN
Jul 22, 2009 6:24 am EDT

Rs.10, 000/-remitted to Indian Bank on 10/07/'09 vide M2A05227246 is not yet received

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Kunjan Desai
, SE
Oct 15, 2013 5:05 am EDT

Guys thanks for all comment. Actually I am new in Sweden and looking transfer money through ICICI but I rather go for some other option

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Pooja Shetty singh
, SE
Mar 19, 2013 6:36 am EDT
Verified customer This comment was posted by a verified customer. Learn more

Hi,
I have a nordea account in sweden and have been trying to make a transfer for the past 10 days to the correspondence account that icicibank holds with nordea.
As both accounts are nordea i cannot use an international transfer mode so i was told to use a domestic transfer mode . This worked the first time on jan 3rd 2013 and now in march i tried to transfer to the same account it says its not possible to do so.
So i had to transfer the amount to seb and make a domestic transfer from there .
The money is debited from my seb account but still does not show up in my icicibank account and i have urgent postdated checks to make and if they bounce its gonna be a big problem for me . Isn't there any way of solving this matter?
I have written to the nri services and also sent them the debit status from my bank but i haven't received any answer regarding this

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Ujjwal Walia
, IN
Oct 22, 2012 2:03 pm EDT

I have tried to transfer money 2 time in last 3 weeks and both it came back without any reason. I have sent mails nri@icicibank.com and nri_manager@icicibank.com as well but no response as of now. Very poor service.

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sridhareddy
, SE
Jun 26, 2012 2:47 pm EDT

Guys Why do you even open accounts with private banks ?! SBI is the best bank, They have many branches in AP and across india which have BIC code. All you need is your 11 digit Unique account number and your money is there on ur account with in 3 days. They have the best exchange rates.

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Ananth_Reddy
, SE
Jun 12, 2012 1:22 pm EDT
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Hi,
I have done transfers to India several times using M2I, and was quiet happy with the service. But, when I tried to transfer it last time the money was credited back to my account and I received a letter from SEB saying that this transfer has to be done using IBAN number. I tried to call customer support today and they informed me that they will charge 400SEK for making an IBAN transfer, although the money is transferred to a local bank. Would it be possible to go to Nordea bank directly and deposit the money in the said account? Are there any chances of restoring the services or, if there are any alternative methods of transferring the money?
Regards,
Ananth

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zoomex
Alberta Beach, CA
Jun 01, 2012 8:29 am EDT
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I AGREE, I SHOULD HAVE NOT SENT THE MONEY THROUGH ICICI. IF I DON’T RECEIVE THE SAID AMOUNT BY MONDAY, THIS WOULD BE THE FIRST/LAST TIME I AM SENDING MONEY THROUGH ICICI.

I made a transfer of on May 27 and my account was debited on May 29. But when I track the transfer, it is still in the status of “Money likely to be debited”. It has been two days since the amount has been debited from my account and ICICI claims that it takes 3-5 days for the e-Transfer. Yet it has been over 5 days and I haven’t received the remittance?

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Suneel Vasireddy
, SE
May 30, 2012 7:30 pm EDT
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I also had the same problem and not yet resolved. I got different Servicenumbers every time and a new person to look into this issue.

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Rajput0515
, GB
May 03, 2012 11:50 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

@ICICI : Tell me what will you do after I am sending my contact info to care@icicibank.com ?
I have been in touch with HEAD QUALITY SERVICE and they too dont know which way this transfer will work, and more over now there is no reply of my mails from there side since 5 days. MY money which was sent to Nordea as per the said process by Head Quality team of ICICI is neither reached to Indian account nor its returned to my local bank even after 15 days.
Do check SR221340292 and see how the ICICI crooks are working, if this the support of head Quality service then what can be expected form 1st and 2nd level support of ICICI.
//Rohit

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Nikhil R
, SE
May 03, 2012 12:51 am EDT
Verified customer This comment was posted by a verified customer. Learn more

any updates the issue

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5:30 am EST
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Money2India Non-refund of money

I tried to transfer $6000.00 using ICICI Bank Money2India product on February 3rd, 2012. The transfer did not go through, because of an error in account number. I received the message of the error in five days. Then I, called ICICI Money2India, they would not take phone request for returning my money. I was advised put in email request to refund money, I sent that request on February 10th, 2012. Today is February 23rd, I have been calling every day, the answer is always the same you will get it back in 3-callender days...
So far I have not received yy money back. ICICI is hoarding my money.

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Update by ran singh
Feb 27, 2012 6:19 am EST

This is their standard line. These cheats never address the problem. I have spent upto two hours each day holding the phone line. At the most they would promise the money will be returned in three days, but those three days never come. They hang-up on me. Even after 25 days I have not received my money. Can someone help me to sue these cheats. I want to see them in jail and pay for all the mental torture they have caused me. All they are saying is sorry for inconvenience.
Can they understand someone dying in a hospital who need to buy medications with the money that they are making profit from... They deserve HELL.

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10:59 am EDT
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Money2India ICICI Bank (Money 2 india) & SEB Bank, Sweden

Dear Money2 India,
I transferred the SEK 50K from Sweden SEB to account in India. I entered wrong Trasfer message (M2X11137445) while doing the trasnfer. Then I sent the mail to [protected]@icicibank.com and called multiple times to ccare and service request number for the same is (SR188408879). When i called to customer care with this SR number they said they have sent back the money to my account and they have given ref number DAG29082011109. When i checked the same with SEB bank here, i got answer that they dont have any information on this. When i called to customer care about this, again they asked me to send a mail to nri. What the hell you people are doing, how many times i need to send a mail and how many times i need to call customer care people about this.
Common you should have the proper complain taking system, so that you can do on priorioty basis. I checked with my Bank SEB, they say that they can't reverse the money, because it is already transferred to ICICI tru Nordea & ICICI is not responding ... So my money is lying in between the banks.
Why the hell you guys do the business...

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Update by Leela krishna Prasad Mandava
Sep 12, 2011 11:25 am EDT

I didn’t get any reply for the mail which i sent to nri@icicibank.com but I got a call from customer care as a response to my posting here in www.complaintsboard.com. Do you people don’t care about the mails sent to nri@icicibank.com?
They have provided some more reference numbers (mentioned below) about the reversal of the money and asked me to check with SEB and NORDEA banks.

NSP0084-110822
WIRE11082200040
1933006 –Ref Number

I have contacted both the banks and provided this information and asked them about the status of the transaction. I got same reply from both the banks that they don’t have any information on this and they don’t know about the status of this transaction. Please don’t provide any further reference numbers to me and don’t ask me to check with SEB and NORDEA bank people. I am fed with the response getting from you people on this issue. I don’t know whether you really cares about customer issue or not, but we are suffering for this issue from last 1 month and no body knows where our money is lying. Please don’t give any junk reference numbers which are of no use. Do some things needful where either I can get back my money to my account or send it to bank in India.

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krishna Prasad Mandava
, SE
Sep 08, 2011 11:27 am EDT

Dear Money2 India,
I transferred the SEK 50K from Sweden SEB to account in India. I entered wrong Trasfer message (M2X11137445) while doing the trasnfer. Then I sent the mail to nri@icicibank.com and called multiple times to ccare and service request number for the same is (SR188408879). When i called to customer care with this SR number they said they have sent back the money to my account and they have given ref number DAG29082011109. When i checked the same with SEB bank here, i got answer that they dont have any information on this. When i called to customer care about this, again they asked me to send a mail to nri. What the hell you people are doing, how many times i need to send a mail and how many times i need to call customer care people about this.
Common you should have the proper complain taking system, so that you can do on priorioty basis. I checked with my Bank SEB, they say that they can't reverse the money, because it is already transferred to ICICI tru Nordea & ICICI is not responding ... So my money is lying in between the banks.
Why the hell you guys do the business...

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remit
New York, US
Sep 26, 2012 8:55 pm EDT

Same Experience for me as well...Dont ever use ICICI money2india service..Complete fraud and unfair business practices. Those call center persons are bunch of trash gives the same information like cut and paste. Basically they are stealing the money for no interest and lock with them for some time. This is their tactics to live with others money. Actually in UNITED STATES this kind of act is protected by FDIC law and Electronic fund transfer act. All we need to find a senator or congress man to take this matter and prosecute then under federal law. No i dont think they are not bide by US laws. Bank of New York is their operational branch for fund transferring services. I think everyone should come up and talk on this. If any one interested just let me know. i like to organize and mobilize resources for this cause. They should bring down to books. I encourage people to update this fraud practices of ICICI in all facebook, twitter and google +. I did this and find lot of people in this menace..all we need to organize these people and hit them legally.

We did a power transfer for a huge amount and they rejected the transaction and not refunding the money back. We r here working so hard leaving our family behind and these ICICI bank people have no concern about any emergencies we have and just keep our money with them. We have go several service request ids for every time we call they say money will be refunded in 5 days every single time. Those 5 days never show up. Hope my money comes back else am going to report to high level legal authorities in India and US and file a lawsuit and sit for a dharna before ICICI new york till money comes back.
!

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Anusha Govindu
, SE
Sep 13, 2011 9:38 am EDT

I can understand the pain and Agony of the persons who don't have any idea about their money when such things happen.The same thing happened with one of my dearest friend when she tried transferring 20, 000 SEK to her Indian account through Money2India...she has given a wrong code just by one number...Myself along with her roamed around the banks for days together just to know the whereabouts of her money ...these cccare people knowing nothing says write a mail to nri@icicibank.com and we have written hell lot of mails and does these people even care about the NRI customers?...if these people doesn't even care about the concerns of their customers..why the hell they are offering such services...These people even doesn't try to learn to improve their service and I am really pissed off with such a service being prolonged even today ...Really this should be a serious eye opener to these ICICI bank people...either they have to improve their services or shut down their got damn services...

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Bhanuprasad K
, SE
Sep 13, 2011 8:52 am EDT

Money2india customer service is One of the junk customer service which i have ever seen. One of my friend also had similar issue for which none of the customer care people provided useful information. Everytime, either they will provide some junk information which is of no use or they will ask us to wait. Phone banking people are dumb and they dont know anything other than the info which displays on their scree. And u dont get replies to the mail. One of the worst service is money2india...its completely junk...

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4:24 pm EDT
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Money2India HOLD MONEY

By mistake I send money to india ICICI bank account by money2india service having check having sender name different then my name in icici bank account in india.
Icici hold the money for two month now and not depositing to my A/C in india or returning back to me in US.
Everytime I get a email saying that I will be inform in next 15 days.
What a useless service provide to NRI customer.
Please do not user ICICI bank for foreign transaction.
Anil
[protected]@yahoo.com

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8:21 am EST
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Money2India Cheating

Hi Team,

I have sent money using money2india.com from ICICI.
They give conversion rates as per their own wish.
Does there any law which governs restrictive malpractices in trade by these cheaters.
Yesterday Market conversion rate was 52+ and they gave me 51.

Not only this time, this is happening again and again.

Could this be brought to notice to some responsible authorities?

Thanks,
Himanshu Gupta
[protected]@gmail.com

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senthosh
Cincinnati, US
Nov 15, 2011 6:34 pm EST

I do agree that ICICI money2india cheats its customers! Switch to remit2india or XOOM.COM. I was using money2india for a while and they take 6 to 7 days to credit the money to the bank. However they withdraw the dollars from your US bank account the very same day! Remit2India is much better and I have not had any issues with them. R2India's exchanges rates are also fair compared to ICICI.

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Rama Krishna 123
, US
Mar 21, 2011 6:21 pm EDT

Yes. I am also victim from several years.
They calculate the lowest in the 5 days period of transaction and they use the lowest amount.

Now they introduced rupee transfer which is also fraud.

I am stuck with this as i have setup lot of ACH and other bank details to Money2India.
Some regulations have to happen on this service from all banks.

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suryaananthaprasad
Louisville, US
Aug 08, 2010 12:49 pm EDT
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Hi i had sent money from money2india to andhra bank but bank did not sent and its been a month till now. but they are saying that they had sent to andhra bank and not giving neft transaction.

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Gundeep
, US
Mar 24, 2009 2:49 pm EDT

I had dollars sent twice in the last 2 weeks. Each time they cheated me too. They gave me about 50 paise per dollar less than the lowest shown even on their own website. I kept checking the conversion rates all the time, every single day. Earlier, the dollar's lowest value I had seen on their website was 50.07 and they gave me only 49.59. I wrote an email to them and they just gave me a garbage automated response saying that they convert the dollars after 24 hours of receiving them and that they offered the best rates. This is total crap. Then today again the same thing happened. I sent money exactly 1 week ago and I checked the forex rates on many websites including XE.com and their own money2india.com all the time every day. The lowest that their own website showed was about 50.15 and they gave me 49.71. They are big cheats and there is no way for us to know what rate they'll give.

They came up with the new Express E-Transfer service and I have put in a request at least 10 times for them to enable it on my account. Each time they say that I don't satisfy the criteria for the service but they declined to tell me what the criteria is.

I would say ICICI Bank's Money 2 India is a rogue and cheat service. They are looting everybody. They randomly decide the rates. There is no fixed time when the currency will be converted or what the rate will be. The rates they give are inconsistent even with their own website displayed rates, and usually much lower.

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