ICICI Bank Canada has launched its mobile banking app, ‘Money2India (Canada),’ allowing Canadian customers to transfer funds to any Indian bank 24/7 without opening an account with the bank.

New Delhi: ICICI Bank Canada, a completely owned subsidiary of ICICI Bank Limited, has introduced its mobile banking app, ‘Money2India (Canada).’ This app enables customers from any Canadian bank to seamlessly transfer funds, 24/7, to any bank in India without the necessity of opening an account with ICICI Bank Canada. Users can send up to CAD 30,000 in a single transaction using this service, as per a report carried by news agency PTI .

Benefits Of Money2India (Canada) App

The newly launched ‘Money2India (Canada)’ mobile banking app by ICICI Bank Canada, a subsidiary of ICICI Bank Limited, provides a user-friendly platform for customers across Canadian banks to conduct instant and round-the-clock money transfers to any bank in India. Notably, users can send amounts of up to CAD 30,000 in a single transaction, enhancing the app’s flexibility. This innovation streamlines cross-border transactions, offering convenience without the need for account opening, specifically with ICICI Bank Canada. The app’s introduction reflects the bank’s commitment to facilitating seamless international fund transfers for a broader audience.

Customers of any bank in Canada can send money through the app using their Visa or Mastercard debit cards. They can instantly send money to India with a single transaction limit of CAD 30,000, with a confirmed exchange rate. Additionally, customers of ICICI Bank can execute future-dated and recurring transfers to beneficiaries in India at a defined frequency using the app.

The launch of the ‘Money2India (Canada)’ app marks ICICI Bank Canada’s foray into Canada’s remittance market.

Security Features Of Money2India App

The app is safe and secure as it has implemented the latest security standards prescribed for digital channels, along with two-factor authentication including a dynamic One-Time-Password (OTP) as an added layer of security.

Speaking on the initiative, Mr. Sriram Iyer, Head International Banking Group, ICICI Bank said, “We, at ICICI Bank, believe in leveraging the latest technology to bring in new and improved digital banking solutions to users of our products and services. We understand the importance of seamless and reliable money transfers. The introduction of the ‘Money2India (Canada)’ app reflects our commitment to providing users with a convenient and enriched experience. We believe that this service will empower customers to effortlessly send money to India instantly, in a safe and secure manner”.

Add-Ons To The Pre-existing Features

Users can easily add beneficiaries and make instant money transfers to them through the app. Additionally, the platform allows for future-dated or recurring transfers, catering to the preferences of ICICI Bank Canada customers who wish to schedule transfers at specified intervals to beneficiaries in India. This feature enhances the app’s versatility, providing users with convenient options for managing their fund transfers seamlessly.

The app not only enables users to promptly add beneficiaries but also facilitates instant money transfers to them. For added flexibility, customers of ICICI Bank Canada can leverage the future-dated/recurring transfer feature. This functionality allows users to schedule transfers to beneficiaries in India at predefined intervals, catering to diverse needs and preferences. The combination of instant transfers and scheduled options enhances the overall convenience and efficiency of the ‘Money2India (Canada)’ app, offering users a comprehensive solution for managing their cross-border transactions effortlessly.

Steps To Send Money From ‘Money2India (Canada)’ App

Step 1: Download ‘Money2India (Canada)’ app through Play Store or App Store

Step 2: Sign up (new customers) or Login (existing customers of ICICI Bank Canada)

Step 3: Add a beneficiary instantly and enter request to send money to India

Step 4: Review the request and confirm OTP. The amount will be sent to the beneficiary’s account

To send money through the app, please download ‘Money2India (Canada)’ App through Play Store or App Store

(Using Inputs From PTI)