The Hindu : Andhra Pradesh / Vijayawada News : ICICI makes money transfer easy

Online edition of India's National Newspaper
Wednesday, Jun 02, 2004

Andhra Pradesh

Andhra Pradesh - Vijayawada

ICICI makes money transfer easy

By Our Special Correspondent

VIJAYAWADA, JUNE 1. Taking advantage of the technological revolution, the ICICI Bank has introduced a host of customer-friendly measures to facilitate hassle-free transfer of money from abroad to beneficiaries in India.

One of them is `Money2India', an internet-operated facility, wherein the customer can opt for e-transfer. The remitter can even schedule his future payments, if required, at the click of the mouse on the ICICI Money2India website, says E. Praveen Kumar, Regional Sales Manager of NRI Services of the International Banking Group of the ICICI Bank.

All that the remitter has to do is register a local US bank account on www.Money2India.com and make remittance request. The remittance can be tracked online with the help of a unique reference number till it reaches the beneficiary.

The bank has also introduced Local Cheque Box whereby the customer needs to just mail a cheque to a local PO box in his country instead of mailing it to India. This will reduce the time for credit into the beneficiary's account as the cheque is cleared in the remitter's country itself.

Other innovative facilities include an internet-assisted version of wire transfer, which will facilitate easier processing giving less scope for error.

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