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Insta Net Express - Terms & conditions

Insta Net Express enables a Registered User of the tracking facility to initiate remittance transaction from their non ICICI Bank account held in a Insta Net Express compatible bank (click here for list of compatible banks).

1. Definition

“Account” means an Insta Net Express compatible local bank account held by the Registered User.

"Adequate Balance" means the minimum amount which must be available in the Account in order to initiate the remittance transaction by using the Service.

“Beneficiary Bank" means the bank in India with which the Registered Beneficiary holds an account.

“Euro Zone Countries” mean Belgium, France, Austria, Finland, Germany, Greece, Ireland, Cyprus, Luxemburg, Malta, Estonia, Slovenia, Slovakia, Portugal, The Netherlands, Italy and Spain.

“Registered User” means a resident of EuroZone Countries and who is registered with

“Registered Beneficiary” means a person who has been registered by the Registered User as the beneficiary with and nominated by the Registered User to receive payments through the Service.

"Service" means the tracking facility using Insta Net Express mode of transfer offered by ICICI Bank to the Registered User by which money may be sent to a Registered Beneficiary.

"Transfer" means the payment of funds authorized by Registered User through their Account to be processed and delivered to the Registered Beneficiary.

2. Terms of use:

1. Only a Registered User can use the Service.

2. Registered User needs to add the Registered Beneficiary and Beneficiary Bank account to his account.

3. Service can be used for remittance transaction of minimum EUR 350 and maximum of EUR 5000. This limit of minimum and maximum amount allowed for remittance transaction can be changed at sole discretion of ICICI Bank.

4. The Service is subject to the Adequate Balance and transfer limits set by the Registered User’s bank on the Account used for Transfers.

5. Service can be availed for transferring money into any Beneficiary Bank account if:

(a) Requests received before 1100 hrs CET on a working day will be processed within the same working day.

(b) Requests received after 1100 hrs CET on a working day will be processed within 24 hrs from the start of next business day.

6. Working day is defined as any day from Monday to Friday. Saturday, Sunday and public holidays in the remitters local bank account holding country, Germany and in India are not included in a working day. For more information on holidays click here.

7. All transfer requests received for availing the Service will be subject to terms and conditions prevalent for the Account and of the Registered Beneficiary’s bank as per the applicable regulations to these banks.

8. In the event of any technical eventuality if the funds are not transferred to even after successful funds transfer confirmation received by the Registered User from his bank, the Registered User will be obliged to make successful transfer to within 48 hrs of the first incomplete transaction to process the Service.

9. ICICI Bank will not be responsible if a transfer request is declined due to non availability of Adequate Balance in the Account from which Registered User is initiating the transfer request.

10. In case of any decline in transaction ICICI Bank will inform the Registered User via email on their registered email id. Registered Users may contact their bank where they hold their Account for all declined transfers.

11. The Registered Users will be transferred out of website to a third party payment gateway in the process of availing the Service.

12. The Registered Beneficiary will have to authorize the transaction using their online banking credentials on the third party payment gateway to initiate the tracking facility from their Account.

13. No refunds shall be made once a transaction is successful and ICICI Bank has received the funds for any transfers using the Service.

14. In case the Beneficiary Bank account is not credited, the funds will be returned to Registered User’s Account without any undue delay. ICICI Bank does not levy any fees for the return of funds. The funds will be returned to Registered User’s Account as per then prevalent exchange rates, but not exceeding the original transferred amount.

15. Registered User will not receive any interest on the funds transferred using this Service.

16. There would be no preferential rates available with transfer requests made via Insta Net Express.

3. Limitation of Liability

ICICI Bank will generally rely without further enquiry on the Transfer instructions given by the Registered User’s bank unless ICICI Bank has reasonable cause to believe that such instructions are incorrect, unauthorized or fraudulent.