ICICI NRI Banking - Money2Indiamoney2india: read this before you use the service!

K
This review was posted by
a verified customer
Verified customer

I think everyone who is using or planning to use money2india service and the people responsible for running/ensuring service for this organization should read this.

I issued a check for an amount of GBP 1500 on 12 sep 07 from my Barclay's bank, Gibraltar to have the funds transferred to my bank account in india. The tracking number is M2L60306729. Everything worked well, funds were credited within a weeks time and amount debited from my Barclays bank.

As i was assuming or was under the illusion of icici being one of the professional financial institutions present in india and talking about the same to my friends in europe, they gave me a surprise. Funds withdrawn from my bank account in india on 16 october 2007 ( after almost a month )for an equivalent amount of GBP 1500 with the reason "refer to drawer". When i called up Barclays bank, nobody seems to have a clue. Now to this day, i have called up atleast more than a dozen agents, couple of supervisors and spoken to a manager in hyderabad (wahab ) who doesnt know where the funds are. Ultimately i am loosing GBP 1500 and willing to approach a legal authority in london unless they return the money either to my bank account in Barclay's or credit the funds back to my bank account in india. I have enough proof of the funds taken from barclays bank on 19th sep and no return till date. The document/bank statement updated till 1st oct has been forwarded to these guys on 16th oct.

They have assured to look into my case and asked for 24 hrs ( again, this story started 16th oct). I will keep this complaint updated and would notify everyone reading this forum. Till then i would suggest anyone using this service to make a decision based on my experience.

If i have a resolution soon, i will post my comments.

Thanks,
kamal

Responses

  • A2
    a2a Aug 29, 2018
    This comment was posted by
    a verified customer
    Verified customer

    BEWARE OF ICICI MONEYTRANSFER!! DO NOT USE THIS SERVICE. My TRANSACTION ID : M2A11414601 .
    They say we receive info after 2 working days.. but it has been 20 days since i transferred money. They promptly deducted money from my bank.

    1 Votes
  • Gi
    Gish Nov 05, 2015

    Same here in Australia too, $1000 went into thin air with the aid of ICICI. My repeated attempts to contact them failed.
    Money2india account shows the fund has been credited to beneficiary's account. It's been 2weeks but nobody knows where the money is.
    NO Customer service, NO responsibility.
    I will be contacting FSA by next week to expose these scammers.
    DO NOT use ICICI bank Money2india service if you want peace of mind.

    0 Votes
  • Pr
    Priyankar Das Aug 03, 2015
    This comment was posted by
    a verified customer
    Verified customer

    I used money2india first time. And its very good. It seems above complaints were there when website was not fully bug free. Now its a good experience.

    0 Votes
  • Pa
    palwinder Jun 09, 2015
    This comment was posted by
    a verified customer
    Verified customer

    hi my name is palwinder maan i used this service also i sent my money 10 april 2015 from london to india but this money didnot reach in india after 70 days i dont know where my money is i called them 100 times to refund my money but after 70 days nothing happen my tracking num is M2N14357329 amont of money is 700 pounds i dont know when m getting this money back

    0 Votes
  • No
    Nothing1 Oct 24, 2014

    My account got debited on 21st from my bank .. today is 24th and ICICI still showing as 'money likely to be debited' .. I called to Customer service and confirmed that money has been debited and ready to credit . Does ICICI think we are not concerned about our hard earned money ??!!! Atleast please change the status in a day time ( i.e in 24 hrs ) ...

    0 Votes
  • Ra
    Ramuk Jul 31, 2014

    I transfer money2india on 28july but I got response today is different account name .i totally don't understand what the hell they are doing I use same account from 6months.

    0 Votes
  • Su
    SUFFER TRANSFER Mar 31, 2014

    Hi All,
    very bad experience with ICICI money to india. Never use it unless you want a heartache.
    Sent over $5000 from Australia to India, and no news of it even after 14 days of queries and complaints etc. Not sure why they offer such service without proper system in place. No one seems to be able to help me out till date. Have to repeat the whole story to new customer care rep each time. Managers seems to be too busy to attend to we poor customers.
    Sincere advice: NEVER USE MONEY TO INDIA.

    1 Votes
  • Am
    Ameen Ansari Jan 23, 2014

    I had a plan to transfer $15000 to india and I need the money within a week. After reading this comments, I am dropping my idea to use money2india. I never use money2india and never recommend to anyone.

    Thanks
    Ameen

    0 Votes
  • Im
    imsm1 Jan 16, 2014

    It is with no doubt I have an clear impression that money2India doesn't care its customers. I have sent an email to [email protected] copying [email protected] with subject "Grievance Letter: Re: 00016a98S999V3S4:Identification DHL Courier Pick" on 10th Jan 2014. I have yet to receive a reply. Their service is hopeless. If I could I will move away from their service.

    0 Votes
  • Ad
    Adrian L Oct 09, 2013

    Also noticed that M2I rates are almost one rupee less per US dollar than market rates !

    This is unfair tradepractice.

    0 Votes
  • Ad
    Adrian L Oct 09, 2013

    Really happy that I read this complaint! I was planning to use money2india provided by icici bank !
    Thank God! I prefer spending some extra money ( very small amout more) to send a TT rather than us their service, which has no face or no one taking responsibility for lost funds!!! Pathetic ICICI BANK, stop being arrogant and help these people who r sendint their hard earned money to their families or for personal reasons. their money is their reward for their efforts!! Return their money or provide insurance for it !! money2 India NEVER !! NEVER sending !!!

    0 Votes
  • V1
    v1994 Jul 24, 2012

    Hi Guys,
    Be careful about ICICI, its run by some mafia leaders doing money laundry and drug dealings in India. If you transfer foreign currency with money2inida, they hold you money for months and will not respond to your emails or calls. Customer service guys don't even know where your money is gone. Do you know what they do with that money. Money laundry and funding some illegal activities.
    I am not joking or kidding. thats what their main business. Banking is just a cover up. I am not sure why RBI is not investigating in to it.

    Don't ever bank with ICICI, especially if you are NRI.

    0 Votes
  • Jo
    Joe8251 Mar 01, 2012

    ICICI are the most unprofessional and they lack the quality to serve customers. They always make most of the transactions difficult for customers and indirectly ask us to do the work for them. I live in London and wanted them to change my email address from my profile, I spent an hour on the phone but did not get anywhere they recommend I download a form from their website fill it up and post it to Mumbai and then they will look into my case so that I could access my online banking.
    When I asked to speak to some authority he said" the supervisor is in a meeting", where is customer service?????

    If you are thinking of ICICI in near future I would recommend please do not put yourself and your money through the most unprofessional, unfriendly and unhelpful team that represents ICICI.

    1 Votes
  • Sr
    sreedharreddy19 Dec 22, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I experienced same situation as Madhu Prakash.. ICICI Banking S***s

    0 Votes
  • Sr
    sreedharreddy19 Dec 22, 2011
    This comment was posted by
    a verified customer
    Verified customer

    i am also one of stupid people using ICICI NRI services, never ever use ICICI Banking services of any sort

    0 Votes
  • Ha
    Hardik Lakhani Nov 26, 2011

    Money2India is one of unprofessional service provider put there. I have transferred fund on 2nd of Nov - 2011 and its been a month they still processing my money. I don't know weather they want my money or they don';t have enough Indian rupees to credit into my acc.

    0 Votes
  • Da
    Dak A Nov 06, 2011

    ICICI is a useless bank and the senior management is unprofessional. I am trying to deal with a delayed credit to my ICICI Bank account and their response reflects wrong facts, poor attitude, and low integrity. This is very shameful as I have copied ICICI's MD and head of remittance - but little they care. My friends use SBI and I am switching to it as well.

    0 Votes
  • Ja
    Jay2012 Oct 11, 2011

    It is unfortunate that ICICI has created a Maze where they themselves have been unable to get out of their own way. Although I am hopeful that they will improve their quality of customer care, I too am experiencing similar delays. Money was promptly withdrawn from my US account on the day I made the so called "Quick Transfer" request. It was October 5th and now its October 11th and they continue to list the status as "Likely to be debited". Not sure what that means. I can tell that the methodology in use is that of sitting on the money for a few days to collect interest until the customer complains and then fulfil the transfer request. What's worse is that their customer care is driven by paranoia with layers after layers of so called security. I am leaning towards contacting my local Congressman's office to look into this institution and I know that once an investigation is launched things will come to light. It is sad !

    0 Votes
  • Ra
    Rajb2w Sep 21, 2011

    Danger...Do not even go near ICICI.. I have transferred GBP 1600 on 19th of August and its 21st Spetember. And the funds are still not credited to my beneficiary account, nor are they returned. I have given 3 days notice to return the money. If not received I am filing a formal petition in court and with FSA.

    0 Votes
  • Ne
    Neeraj0107 Aug 11, 2011

    Hello
    On 8Aug11, I transferred 10000 S$ from Singapore to HDFC account via ICICI's money2india application. Tracking ID is M2N12372750. Status shows that money has been received by ICICI bank but It has not been transferred to my account. Whenever I call, everytime new customer care person take up and ask for same information and finally they ask for 24 hours more. This is very pathetic service and no professionalism there. My family was urgent need of money there as a close relative was not well. Now I wonder, what shall I do ? I dno't have any more money to transfer and repent for time when I decided to use money2india application.
    As suggested by customer care I have already sent email to [email protected] What can be a bigger corruption than this, I have send email to head liabilities & nri [email protected] and MD & CEO Ms. C. Kochhar [email protected], But no reply so far. GOD help on this .

    0 Votes
  • Mo
    Mohamed Sheikh Jul 23, 2011

    Dear Sir/Madam,

    I have transferred a sum of AUD$ 3000/- on the 19th of July 2011 and still have not received it to my ICICI bank Savings account in India.
    I have attached the screenshot of the transaction detail from my ANZ bank in Australia through which I have transferred to your J.P Morgan Chase account number.

    It has been 5 days now, please assist and explain the reason for the delay.

    --
    Thanks and regards,
    Mohamed Sheikh

    0 Votes
  • Ma
    Mady79 Jul 07, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I have used icicibank remit2 india service and the service sucks .

    After 2 weeks of money transfer they are asking me for debit statement from my bank and when I send it, I get an email about sending debit statement with my name and account number on it .I dont want to send it
    as it breaches privacy .I am contacting my bank to get my funds back and see what happens from here


    Mady

    0 Votes
  • Mi
    Minku Jun 28, 2011

    Thank god I read these comments today. I have been thinking about using this service for last 1 week but had some doubt somewhere so decided to do some search today before actually starting to use this service. I am glad that I came across this website.
    Many thanks to all those who have put their complaints and I hope that the things get sorted for you.

    0 Votes
  • Ra
    raman adithan Jun 02, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Hi there i have initiated money transfer to HSBC ADAYAR but i have no message on the remarks.only it says request received and i did initiated and my money deducted from my account.I spoke to your team they do not know received my money yet.asked me to send debit statement to you via e-mail.please track my money.

    This is my ICICI money to india registered e-mail Address [email protected] and i am writting from the same.

    yesterday i e-mailed with same query to [email protected] but you replied to send e-mail from my registered mail id.let you know this is as my registered email id.please do not cause any more confusions.please be clear.

    date amount debited 31/05/2011

    amount debited with four seperate transactions.please kindly check the status of the transfer.please reply me soon.it is my life and death issue. i am very anxious about my money.
    i am disappointed with your service.i need my money back otherwise i will go court proceed

    Best regards

    Raman Adithan


    Best regards

    Raman Adithan

    0 Votes
  • Da
    Darin D May 22, 2011

    Hi guys
    I am using their services since 2 years with satisfaction.Many of my friends use this and they are happy.My friend had trouble when she failed to mention the tracking number while paying them from her bank.You have to pay the exact dollars too.
    I mention the tracking number in the description and message columns and make sure I pay the exact amount(if it is $3000.50 I mention $3000.50 ).By the way, I use internet banking to pay the funds.Hope this helps.

    0 Votes
  • Su
    SURESH_K Mar 19, 2011

    ONE OF THE BOTTOM LINE WORST BANK IS ICICIMONEY2INDIA . PLEASE ENSURE YOU DONT USE THIS GATEWAY OR EVEN IF U HAVE ACCOUNT WITH ICICI BANK DONT ENCOURAGE USING THIS BANK SERVICE. ONE OF WORST BANK EVER SEEN IN THE GLOBE.

    0 Votes
  • Ma
    MadhuPrakash Mar 04, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I have requested icici bank to send the transaction password, literally it took 40days to get my password through courier after many many followups. that too I have many friends in ICICI bank but they are also unable to help as it is NRI account. Please beware if icici bank, go for SBI or other nationalised banks.

    0 Votes
  • ICICI Prudential Dec 28, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Hi Dr. Vani

    We understand our representative has contacted you and resolved your concerns to your satisfaction. If you have any further queries, feel free to contact us at [email protected]

    - ICICI Prudential

    0 Votes
  • ICICI Prudential Nov 02, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Hi Dr. Vani,

    We are sorry to hear your experience. We have taken a note of your issue. Someone from ICICI Prudential will get in touch with you within the next four hours.

    - ICICI Prudential

    0 Votes
  • Dr
    Dr.Vani Rao Nov 01, 2010

    I HAVE TAKEN ICICI PRUDENTIAL POLICY WHEN THE OFFICIALS PAID FREQUENT VISITS TO MY HOUSE. IN JULY 2010 AND AUTHORISED CREDIT CARD TO PAY THE AMOUNT. IMMEDIATELY THE POLICY WAS ISSUED VIDE NO.14264244DATED 31.07.2010. WHEN I ENQUIRED THE STATUS OF POLICY I WAS TOLD BY THE BRANCH THAT THE POLICY WAS WITHDRAWN. THE REASON BEING NON RECEIPT OF MONEY. WHEN I VERIFIED THE STATEMENT IT WAS DEBITED TO MY CREDIT CARD ACCOUNT. AND THE AMOUNT WAS PAID BY ME ON RECEIPT OF CREDIT CARD STATEMENT.
    MY COMPLAINT TO ICICI PRUDENTIAL HAS NOT RESULTED ANY POSITIVE RESPONSE. I REQUESTED THEM REPEATEDLY WHY THE POLICY WAS WITHDRAWN WITHOUT COMMUNICATION TO THE CUSTOMER AND WHAT HAPPENED TO RS.50, 000/ AFTER REPEATED PHONE CALLS, THEY ADVISED IF I WANT THEY RETURN MONEY AT THEIR CONVENIENCE. AFTER KEEPING MONEY THREE MONTHS AND IF I WANT THEY WILL RETURN THE MONEY AFTER 7 DAYS. BEING A LONG STANDING CUSTOMER OF THE BANK, WITH ALL MY ACCOU NTS IN ICICI THEY HAVE NOT BOTHERED TO GIVE A PROPER JUSTIFIABLE REPLY. THEY ADVISED THEIR OFFICIAL WILL TALK TO ME. IT NEVER HAPPENED. STILL MY COMPLAINT IS NOT RESOLVED. I MADE IT CLEAR TO THEM THAT I NEED THE POLICY AND NOT THE MONEY AFTER HARASSMENT AND INCONVENIENCE. VERY VERY UNHAPPY ABOUT THE SERVICE.sTILL MY COMPLAINT IS UNRESOLVED.

    0 Votes
  • Te
    Test Sep 22, 2010
    This comment was posted by
    a verified customer
    Verified customer

    ICICI Bank sucks...they don't care NRIs and they think that these guys are very far and they cannot do anything..notice they keep on adding some kind of charges to NRI accounts.

    0 Votes
  • Sr
    sreeramByru Aug 25, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Hello all,
    Please be careful with icici Money to India, Icici got worst customer care service if u would like to cancel the money to India account u never able to
    cancel ur account. They will have ur social security no and everything but they never cancel ur account. I asked to cancel my account please read the reply mail from Icici Bank

    Dear Sir,

    With respect to your mail we would like to inform you that we are unable to cancel/ delete the user ID.

    However you can reset the password or alternatively you can create the new user ID.

    You can disable the old user id by 3 wrong attempts while login.

    Sincerely,

    Pushparaj Acharekar
    Customer Service Officer
    ICICI Bank Limited

    Dear Icici Manager Please cancel my account with Icici .Here is my contact mail id [email protected]
    Regards,
    Sreeram Byru

    0 Votes
  • Pr
    Prasad R Aug 21, 2010

    Hi,
    This is Prasad here. Regarding the customer service for ICICI Money2India, whatever I read in this complaint forum is true. The customer service I can't say unprofessional but they don't know beyond a certain point. They have certain set rules from the book which they follow. Anything beyond that, they don't have answers.
    1. I wanted to send money to India from the US and I forgot my login, I clicked on the 'Forgot password' link and probably this was the first link where the temporary password did not come to my account. I called customer service the next day and they said you have to wait for 24-48 hrs and it will be sent to your account. 4 days after this, they did not send me the password, after which I called them again. To my surprise the representative told me that there is some Technical difficulty in this and I need to write a mail to customer service.
    I don't understand, whats the technical difficulty to send me a temporary password ??? I asked them then why didn't you come to me and tell this. 4 days after I requested for password you are telling me this and next 2 days I have to wait for them to reply back ???
    2. The money transfer rate is probably one big issue with ICICI Money2India. I have been regularly sending money, but the market exchange rate and what they give us, there is good amount of difference.
    Thanks to ICICI. I would prefer another service to send my money.

    Cheers,
    Prasad

    0 Votes
  • Ar
    Arun Kumar a Aug 17, 2010

    Hi, I am Arun Kumar. This is really a big pain using the ICICI Bank Money2India. the service are not at all transparent. I am not sure based on what the bank people decide the conversion which is extremely less compared to market and other banks.
    On 11 August 2010 i created a transaction and the rate was showing as 46.24 which is much less than the market price 46.6~. I am told that the conversion would be the price at the time they credit to the account so i waited to get money credited and i saw it got credited today with a conversion rate of 46.17 which is really shocking because the market price is much higher and when compared to other banks also this is much lesser. When i checked the conversion in SBI it 46.45.
    When i called the ICICI customer care they were telling me that these rates are decided by the back end processing team and they cant anything about this and they are also asking not to compare with any other banks.
    I dont understand why ICICI is trying to cheat the customers like this hidding all the facts and there is no transparency how the conversion is decided and why so much difference is there from the market price.
    the worst experience i had till date with the bank service and the customer care is least bothered to help the caller and they only say that these are decided by bank end processing team and they are also not having any clue on the way the conversion is decided.
    Anyways end of the day Customer is the one who loses the money so i then decided not to use the ICICI service anymore and then opened an remit account with SBI which gives a very better price compared to the market.

    Regards,
    Arun Kumar.

    0 Votes
  • Ak
    ak40170 Jul 12, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I am an ICICI Direct customer and sell/buy mutual funds using my online ICICI Direct account. Recently I received a hard copy of the statement from one of the fund houses I had invested in using ICICI Direct which had incorrect bank details. When I wrote to fund house help desk, they informed me that incorrect information had been provided to them by ICICI Direct and they could not amend their records based on my complaint.

    I have been following up with ICICI Direct for 3 months on this (since 11th April 2010). I have approached the helpdesk as well as the ICICI Direct branch here in Pune and provided them with all necessary documents but have not heard from them till date. At the moment I do not know who else to escalate the issue to.

    Request you all investors to beware if such investment options especially when ICICI Direct has such poor customer support. There is absolutely no way to know what details ICICI Direct provides to the fund houses. It was a mere chance that I received a statement owing to which I came to know of the folly.

    0 Votes
  • Ga
    gandhiraj Jun 09, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Hi I am Gandhiraj, I send money from southafrica to Tirunelveli, Tamilnadu, india (Statebank of Travancore) and the fund will go routed through ICICI BANK.
    ICICI bank received the money after that while distributing the money instead of writing State Bank of Travancore by mistake written as State Bank of India. because of this issue my bank (statebank of travancore) not giving credit to my account. BUT THIS IS FULL AND FULL MISTAKES FROM ICICI BANK. I THINK ICICI BANK PEOPLES ARE SLEEPING WHILE WORKING...

    my email address: [email protected]

    Regards
    Gandhiraj

    0 Votes
  • Lo
    lokesh kannan May 06, 2010

    Dear Sir/Madam

    This is the worst bank i had seen in my experience with regards to customer service both in banking and insurance.
    I am a NRI, last month (about 50 days ago) i have deposited 25000 INT to ICICI bank prudential .. but till now i am not sure about the money/ policy/ anything..
    customer care response is money not deposited/ policy not created / policy created but not updated / new policy will be created very soon / etc.
    So NRI's please BEWARE of depositing any money in ICICI bank . my suggestion is depositing money in ICICI bank is similar to similar to throwing some money in Toilets ... TOTALLY WASTE.
    Contact me for further information with proof @ [email protected]
    Regards
    Kannan

    0 Votes
  • Ra
    Ranganath Apr 16, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Hi,

    Today I have received No-due certificate from ICICI Bank with struggling with customer supports and even escalated to higher level but it took more than 15days to solve my problem. Its horrible experience with ICICI Bank, i would suggest please avoid ICICI Bank.
    "Worst Support team"
    "Worst Bank ever"

    Regards,
    Ranganath

    0 Votes
  • Ra
    Ranganath Apr 05, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Hi
    My Credit card no-[protected] already settled my credit card outstanding amount in the year of 28-07-2008 (amt-4702/- clear amount ) but in CIBL report they mentioned "WRITTEN OFF", I am not able to understand ICICI bank behavior already closed all transaction with ICICI why the hell they have given my name in CIBL. Please help me in this matter..

    Despairingly waiting your help.

    Regards,
    Ranganath Surpur
    email id: [email protected]
    Contact Number: +91-[protected]

    0 Votes
  • Bh
    BHUDEV AWANA Mar 02, 2010

    sir bhudev awana is here now i am a helpless man but a honest person, i want surrender my finance car WHO IS IN DESTROYS CONDITION indica HR 51 W 8478 LOAN NO. LADEL [protected] PLZ TAKE IT SERIOUS

    0 Votes

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