ICICI vs Remit2India

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Have you use either ICICI or Remit2India service for ACH money transfer? This service transfer money from ur existing US bank account to ur existing Indian Bank account. One doesn’t need to open new bank account with ICICI or Remit. If you have used such service any recommendation, good/bad experience? Blogs has some negative reviews about Remit and some in general about this mode of money transfer.

10 Comments:

  1. Nilesh
    January 27, 2009 at 5:20 pm

    I have used the ICICI Money2India service and find it easy to use as you can link your checking account and transfer money from there to your account in India. The money is available in India within 3 to 5 days business days.

  2. OMA
    January 28, 2009 at 5:57 pm

    I too have used Money2India and the only disadvantage is that you do not know what transfer rate you are going to get until the money is been deposited.

    You get the rate of that day when the money was actually deposited.

  3. Nilay Chheda
    February 2, 2009 at 10:55 am

    I have used remit2india and i feel i dont see any disadvantage in it. the money is usually transferred in a day or 2. the exchange rate that they transfer is far better than the banks offer if a direct bank to bank transfer is made.

  4. Rohit
    February 4, 2009 at 1:38 pm

    i could haggle rates and fees with remit2india. however, they can be annoying as they keep calling back.

  5. Karan
    February 13, 2009 at 2:31 am

    I agree with Rohit. You can sometimes get good bargains with Remit2india if you sending big amount.And I don’t mind the calling. At least I know there is some human being at the other end. ICICI is worst.No one picks calls only.

  6. prashant
    March 18, 2009 at 4:54 am

    We ended up using ICICI’s money2india and are happy with the experience. took about 5-6 days for money to appear in account.

  7. Girish
    July 10, 2009 at 11:12 am

    Avoid Remit2India, they keep calling you even after you let them know that you don’t want to receive calls from them.

  8. NileshK
    September 13, 2009 at 1:36 pm

    I tried sending same amount of money (> $1000) on the same day at the same time from both of the services; interestingly I found that more money got deposited thru money2india; I forgot to check how was INR doing during the transfer window though.

  9. Purvesh
    September 13, 2009 at 8:17 pm

    Try XOOM – they transfer within an hour, it is not free though – costs about $6 or $10 forgot …. Rates are good to. (To have same day transfer you need to pay via CC or paypal, else takes 2 to 3 days).

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