1. What is this facility of credit to a resident Visa Debit Card account?
When you transfer funds through Money2India Europe, ICICI Bank now offers you an option to directly credit any Visa debit card* of your beneficiary in India.
2. What are the benefits of using this facility?
Speed - This facility ensures that the funds are transferred to your beneficiary's account in 3 working days. This is much faster as compared to the time required in sending a demand draft and encashing it at the beneficiary's end.
Convenience - Just log on to your Money2India Europe account and you can transfer the funds to your beneficiary.
Reach - The funds can be transferred to the beneficiary anywhere in India as long as he/she holds a Visa card.
3. How much time will it take for the funds to be credited to my beneficiary's resident Visa Debit Card account?
Credits to a resident Visa Debit Card account * are processed in 3 days**. The timeline excludes banking holidays and weekends in the remittance country, Germany and India. However ICICI Bank is not responsible for the period within which the Beneficiary Bank will credit the proceeds to the Beneficiary Card.
4. Are there any charges to use this facility?
This service is FREE for all money transfers made through Money2India Europe. However, ICICI Bank is not responsible for charges/commission of any kind levied/charged by the Beneficiary's Bank.
5. Do I need to register for this service?
To avail this facility you only need to be a registered user of Money2India Europe. Once registered you will have to add your beneficiary.
6. What beneficiary details do I need to use this service?
You only need to know the beneficiary's 16-digit VISA card number and the beneficiary name. You are requested to provide the accurate/correct number of the Beneficiary Card. ICICI Bank shall not be responsible for any erroneous credit, in case an incorrect number of the Beneficiary Card is provided.
7. Can I track the status of my remittance online?
Yes, you can track the status of your remittance using the tracking number by clicking on the "Track Transfers" option in the logged-in section of www.money2india.eu
8. In case the instructions given are incorrect, how will the transaction be processed?
In case the VISA card details are incorrect, the transaction will be rejected. We will return the money to the remitter's registered account as per the exchange rate prevelant at the time of return of money.
9. Can I use this facility to credit an NRE account linked to a Visa Debit Card?
Please note that currently this facility is not available for credits to an NRE account linked to a Visa Debit Card. In case the card specified in your remittance request is linked to an NRE account, ICICI Bank will issue and dispatch a DD at your beneficiary's address.
10. How will ICICI Bank credit a resident Visa Debit Card account?
The beneficiary's resident Visa Debit Card account * is credited through the Visa network, which covers over 150 locations in India.
11. What happens in case money is not credited in beneficiary account or returned by beneficiary bank?
In case the beneficiary account is not credited, the funds will be returned to sender's account without any undue delay. Money2India Europe does not levy any fees for the return of funds. The money will be returned to your Euro account as per then prevalent exchange rates, but not exceeding the original transfer amount.
*Please note: Visa Money Transfer cannot be used to transfer money to VISA cards linked to NRE Account and Visa Credit card account.
**Please Note: Money Transfers are subject to regulatory verification processes. In the event of any delays in the processing of Money Transfers on account of such verifications, ICICI Bank UK PLC will not be liable or responsible in any manner for consequences of such a delay, including, without limitation, for losses or damages caused by such a delay.