ICICI Bank Canada Unveils ‘Money2India (Canada)’: A New Era in Mobile Banking

Introduction

ICICI Bank Canada, a subsidiary of ICICI Bank, India’s largest private sector bank, has launched a new mobile banking app called ‘Money2India (Canada)’ that allows users to send money from any Canadian bank to any bank in India without the need for an ICICI Bank Canada account.

Features

The app, which is available for both iOS and Android devices, offers a range of features and benefits for users, such as:

• Competitive exchange rates and low service charges
• High transaction limit of up to CAD 30,000 per transaction
• Instant transfers to over 100 banks in India via IMPS (Immediate Payment Service)
• NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) transfers to all banks in India
• Multiple payment options, including Interac e-Transfer, bill payment and wire transfer
• Secure and convenient transactions with biometric authentication and OTP (One Time Password) verification
• Real-time tracking of transfer status and history
• Money2India Loyalty Program that rewards users with bonus points for every transaction

Benefits

The app is designed to cater to the needs of the large and growing Indian diaspora in Canada, who send over CAD 4 billion annually to India, according to the World Bank. The app aims to provide a fast, easy and reliable way of sending money to India, especially during the ongoing COVID-19 pandemic, when physical visits to bank branches are limited. The app also enables users to support their families and friends in India during emergencies, festivals and other occasions.

Conclusion

ICICI Bank Canada is committed to enhancing its digital offerings and providing innovative solutions for its customers. The ‘Money2India (Canada)’ app is a testament to its vision of becoming the preferred bank for the Indian community in Canada. The app is available for download from the App Store and Google Play Store.