The British branch of ICICI Bank, ICICI Bank UK Plc. today announced the launch of online money transfer services to facilitate transaction from any bank accounts in Sweden, Norway and Denmark to any recipient account based in India. The service called ‘Money2India Europe’ verifies the credentials of the customers over video call from Money2India Europe website. The website is owned by ICICI Bank UK Plc. “Using this service, anyone residing in these countries can initiate money transfer round-the-clock for 365 days from their local bank account to any bank account in India in a quick and convenient manner,” ICICI Bank’s spokesperson said. “Money2India Europe service is now available in twenty countries in Europe”, he added. The service is completely online and can be completed within fifteen minutes.
It eliminates the need to courier the Know Your Customer (KYC) documents. ICICI Bank UK Plc. has partnered with Inpay A/S, a global payments service provider, to bring this service to consumers in Sweden, Norway and Denmark. “With NRIs being away from the country, digital channel becomes a very powerful tool for them to connect with India. With the expansion of Money2India Europe, we intend to comprehensively fulfill the money transfer needs of the NRI diaspora in Sweden, Norway and Denmark,” Vijay Chandok, Executive Director, ICICI Bank said.
Jacob Tackmann Thomsen, CEO and founder of Inpay A/S said, “Sweden, Denmark, and Norway are three of the most innovative markets in Europe, where digital payment innovation is ahead of the global developments. At Inpay we are very pleased to support one of the leading global banking brands and its proprietary remittance platform by providing bank account collections.” Euro (EUR), Swedish Krona (SEK), Norwegian Krone (NOK) and Danish Krone (DKK) are the currencies allowed for money transfer service by the Bank. Registered users can also track the status of their online transfers. It takes one working day for ICICI bank customers in Europe to transfer their money to any ICICI bank account in India and two working days to transfer their money in Europe to any other bank account in India.
Connectivity is one of the key requirements of the modern world. There are many Indians living and working abroad, who need to transfer money to their family’s bank accounts in India. Money2India Europe provides a fast, easy and accurate platform to do so. This site is relatively popular among users in the Germany. It gets 49.2% of its traffic from Germany. This site is estimated to be worth €11927 and is ranked ahead of its competitors like Moneytransfer.ie, Exchange4free.com, Sendingmoneytoindia.com and Westernunionmoneytransfer.com. It is a promising and a highly useful venture by ICICI bank’s UK branch, launched in a continent where online money transfer technologies are ahead of global advancements. Read more on Startups