Sending money from the USA to India is now easy

If you are an NRI (Non-Resident Indian) living and working in the USA, you may need to send money back home to India. There are several methods to transfer money to India, including wire transfers, online money transfer services, personal cheques and cash transfers. However, each method has its benefits and challenges.

Sending money to India can be expensive due to the fees charged by the banks and other financial institutions, which can add up quickly, especially for larger transactions. Delays can also be a challenge if you need to send money from the USA to India urgently as wire transfers or other methods of transferring funds can take a few days.

There can also be fraud and security issues. You need to be careful while sending money to India as there have been instances of scams where NRIs have lost money due to fraudulent activities.

If you wish to send money from the USA to India, one of the most reliable, easiest and convenient ways to do so is through the ICICI Bank Money2India remittance service. In this article, we will provide a step-by-step guide to help you send money to India using this service.

Step 1: Register on Money2India

Visit the Money2India website and click on the ‘Sign Up’ button. You will be prompted to enter details such as your name, age, gender, occupation, address and phone number. You will need to create a password and may need to provide some additional information to complete your profile.

Step 2: Add a new recipient

The next step is to add a recipient to whom you want to send the money. To do this, after logging in, click on the ‘Manage’ section and then click on ‘Recipients’. Now go to ‘Add’ and select the ‘Individual’ option if you wish to transfer money to a person or select ‘Business’ if you intend to send money to a business entity. Next, choose ‘ICICI Bank’ if the recipient already has an ICICI Bank Account or choose ‘Non-ICICI Bank’ if the recipient does not have an ICICI Bank Account. You will need to enter the recipient's details such as name, mobile number, address, e-mail ID and his/ her Bank Account details. Next, click on ‘Review’ to review the details displayed on the screen and edit the details if you have entered any wrong information. Next, click on ‘Add Recipient’ and you will get an OTP on the registered mobile number. Enter the OTP and the recipient will be added.

Step 3: Add and verify your Bank Account details

Add and verify your Bank Account details by visiting the profile section. Go to Manage > My Bank Account > Add Bank Account. Enter your routing number, name of the bank, account type and the account number. Click on ‘Verify Account’ and upload the latest bank statement. After verifying the uploaded bank statement, it will take 24-48 hours for the Sub-Dollar entries to reflect in the US Bank Account. You will receive 2 credit entries and 1 consolidated debit entry in your account. Once received, visit Money2India > Manage > My Bank Account > Account Status. Click on ‘Validate your Account’ and enter the details of the 2 credit entries to enable your US local Bank Account for transactions on Money2India. After completing this step, please link your Indian Bank Account (Manage > Recipients > Add Recipient > Individual/ Business, ICICI Bank/ Non-ICICI Bank).

Step 4: Select the amount

Once you have added a recipient and verified your Bank Account details, you can start the process of sending money. To do this, log in to your account and click on the ‘Send Money’ button. Enter the amount you wish to transfer, select the recipient and your Bank Account. Before the transaction is completed, you will need to review and confirm the details of the transaction. This includes the amount being sent, the exchange rate being used, the purpose of remittance and the recipient's Bank Account details. Finally, confirm the amount and your family back in India will receive the money in the Indian currency.

Conclusion

Money2India is a simple and convenient way to send money from the USA to India. By following these simple steps, you can ensure that your transaction is processed quickly, securely and the recipient receives the money he/ she needs. With competitive exchange rates, low transfer fees and highly secure transactions, Money2India is a good choice for anyone looking to transfer funds from the USA to India.