- Non-Resident Indians (NRIs) can now transfer
money to India in just 3
clicks
- First Indian bank to integrate international money
transfer facility with its Internet banking
platform
- NRIs can pay for services directly to over 100
entities in India
MUMBAI, May 29, 2017 /CNW/ - ICICI Bank Ltd, India's largest private sector bank by
consolidated assets, announced the launch of a new website and
mobile application for Money2India (M2I), the bank's flagship
online money transfer service for NRIs. The new website as well as
the mobile app comprises a host of features which enhance customer
experience.
The website and the mobile app have an intuitive design that
guides users to complete money transfer quickly. NRIs can now enjoy
the convenience of a simplified transaction flow to transfer money
to India in 3 simple clicks for
their frequent transactions*. It provides an option of biometric
authentication for logging into the mobile app as well as view the
status of the transaction.
They can also make quick payments for services in India to over 100 entities from the M2I
website. They can do so for services including telephone bills,
insurance premiums, and prepaid mobile recharge among others. The
new responsive design also offers a coherent experience across
multiple devices like desktops, mobiles and tablets. Frequent users
of Money2India will be enabled for instant money transfer credit to
their recipients in India.
As an industry first, the bank has integrated its M2I website
with its Internet banking platform. With this, NRIs can now access
their bank accounts, transaction details as well as undertake
remittances from a single Internet banking platform. This gives
improved convenience to NRI customers as they are not required to
separately login and authenticate themselves to access the M2I
website.
Ms. Chanda Kochhar, MD & CEO,
ICICI Bank Ltd said, "ICICI Bank has pioneered and popularised many
innovative solutions in the banking industry in India. It has always been our endeavour to
provide world-class services to our customers. The new Money2India
platform is yet another testimony to that effort. We see large
number of our customers today transacting through our digital
channels. The Money2India website and mobile app have been
significantly enhanced to provide ease of sending money to
India. It allows registered NRI
customers to transfer money to India in just 3 clicks if it is frequently
transferred. They also have an option to pay over 100 entities in
India from the M2I website. We
believe that these developments will offer a seamless user
experience for NRIs looking to transfer money to India."
NRIs, who are customers of any bank globally, can use the M2I
website and mobile app to transfer money to any bank in
India. New users can initiate a
money transfer instantly with the help of a simple one-time
registration. The simple transaction flow makes it easy even for a
first time user to transact.
Some of the key highlights of the website and application
are:
- Transfers in 3 easy clicks: The interface displays the frequent
transactions upfront to customer to enable a transfer in just 3
clicks.
- Biometric Login: The mobile app, which is available on Android
and iOS, can also be accessed through biometric authentication in
addition to the login ID & password.
- Direct payments to over 100 entities in India: A first-of-its-kind service by any bank
in India. Apart from money
transfers, the Money2India website now offers the option to pay
bills and other expenses directly to over 100 entities. This
includes payments like utility, telephone, insurance, and prepaid
mobile recharge among others.
- Receipt summary and status updates: On completion of the
transfer, a summary is displayed with the details of the
transaction including currency exchange rate, promotion discounts
if any and the likely receipt date of the transfer to the
beneficiary. It also has an interesting 'track your transfer'
feature which enables customers to check the status of their
transfer in real time.
ICICI Bank Ltd is a pioneer and the largest player/bank in the
remittances market in the country. Its 'Money2India' platform has
been facilitating remittances into the country since the last 15
years, catering to over 1.5 million NRIs worldwide. In 2015, it
also launched 'Money2World' India's first fully online service to transfer
money from any bank in India to
any bank overseas. The Bank also has a wide array of arrangement
with a host of correspondent banks across the globe to enable quick
and easy trans-border money transfers.
For news and updates,
visit http://www.money2india.com and
follow us on Twitter at http://www.twitter.com/ICICIBank
About ICICI Bank:
ICICI Bank Ltd (NYSE:IBN) is India's largest private sector bank by
consolidated assets. The Bank's consolidated total assets stood at
US$152.0 billion at March 31, 2017. ICICI Bank's subsidiaries include
India's leading private sector
insurance, asset management, securities brokerage and primary
dealership companies, and among the country's largest private
equity firms. It is present across 17 countries, including
India.
ICICI Bank Limited ("ICICI Bank") is incorporated in
India and regulated by the Reserve
Bank of India ("RBI") and
maintains its corporate office in Mumbai,
India. The products and services provided by ICICI Bank are
subject to product/service specific terms & conditions. Please
familiarize yourself with the terms and conditions applicable,
available
at http://www.icicibank.com and http://www.money2india.com.
The products and services are also subject to RBI
rules/regulations, prevailing foreign exchange regulations &
other applicable Laws. ICICI Bank reserves the right to
modify/change all or any of the terms and conditions governing the
products and services. ICICI Bank also reserves the right to
discontinue the products and services without assigning any reasons
whatsoever. Any references to timelines or service levels are only
indicative and should not be construed to refer to any commitment
by us or any other service provider.
The information contained in this document is not intended to
nor should it be construed to represent that ICICI Bank provides
any products or services in any jurisdiction where it is not
licensed or registered or authorised to do so. The information
provided herein is not intended nor should it be construed to
represent that ICICI Bank is soliciting. The information provided
herein is not intended for distribution to, or use by, any person
in any jurisdiction where such distribution or use would be
contrary to law or regulation. ICICI Bank and the "I man" logo are
the trademarks and property of ICICI Bank.
Canada: The overseas products
and services are not the products and services of ICICI Bank
Canada. The products and services are not eligible for or covered
by deposit insurance of the Canada Deposit Insurance Corporation
("CDIC").
SOURCE ICICI Bank