r2i forum

I started using ICICI money2india about 2 months ago. In Dec they did an 'upgrade'. The site crashed for 3 straight days due to 'upgrade'. Now, they have completely screwed up the UI (It was screwed up earlier too).
There are multiple locations in my town but now there is only one option to remit to.
ICICI branch guys worked on this for a week but gave up as apparently no one listens to them. Diligently responding mail to every damn promotional email that they send me welcoming me to the ICICI family. No resposne. Mail sent to nri@icicibank. Promise to rectify it in 72 hrs. After that no response.

Any inputs on what to do?
Are there any other banks that allow you to transfer funds and book an FCNR all online. HDFC does ot have it. Kotak had it but due to website 'upgrade' stopped it. We seem to be going in reverse now.
I have found booking FCNR and then changing them to INR on a good day the best way to remit money.

I too having trouble with Money2India site.

After I selected amount and a/c money to send and click on Next button, the next page is showing some exception!

I didn't have any problem using Money2India when I tried a couple of days back. Try using Internet Explorer in case you're not already doing so.

I had several rounds of email conversations with customer service. They conceded that it stopped working after version 3.0 upgrade. This continued for 3 months. Now it is ok. And yes, try IE. ICICI bank site does not work on firefox on certain features.(Transferring money). Not sure about money2india

I used ICICI several times in last few months. Working fine. I dont like the new UI as well. Prevoius one was simpler.
ICICI is only thing working for me. Having issues with SBI. It limits only $1000 recently and stopped using.
For QuickRemit by HDFC, unless you have NRE account with HDFC, limit is $25K per year. Had to give up NRE account after moving to India.
I dont like remit2India folks. I used them in the past. They promote high rates on the web site but in fact lower rate on actual exchange time. Seen in multiple times.

Suny

Suny,

I thought I am the only one had problems with remit2india website.

I sincerely tracked all the exchange rates. I find they always give me lesser than what was indicated on the day of booking. Yes, I know the rates are changing all the time. It is like coin toss. In long run, at least 50% of the time, I expect to have higher rate that the booking time. I did not even get it once in about 40+ transfers I made.

Sounds like remit2india is taking customers for ride.

My experience with money2india and sbiglobal are mostly good.

I had only once an issue with sbiglobal and that made me to stop using them for some time. My recent experiences are not bad.

RRK:

I used Remit2India once for large transaction( $25K) because they were quoting higher rates than all other channels when i was looking around. I kept screen shots of their rates for 1 week between i started transfer and money got credited. They gave 40 paise less which amounted to Rs 10K for $25K. I sent them emails and escalated to their Sr Managment (all the way to VP) and made lot of noise. They gave me credit for Rs 3 or 4K afterwards. This was way back in 2007. I stopped using their service though they were calling me like hell to my US cell phone and home phone after that to make me use their service. In the end their rate was slightly lower than money2india and quick remit

I would advise stay away from Remit2India since then. Quick Remit always gave me better rate than M2I and SBI Global but they have cap on $25K for some unknown reason. They would extend the cap if you fil lthe long form and is customer with HDFC bank.

Suny

Money2india takes customers for a ride in a different way: ACH transfers timeline for account credit is always deterministic from the day the money is debited from the US bank(factoring the holidays on both countries). On a rising market (better INR rates), they credit a day before if they see good pipeline for $$ demand and factors that makes it a easy kill for them. I caught them twice and raised the issue at the highest level - they were evasive as there were no holidays during the transfer and could not explain at all. I minimize the risk by creating my own pipeline of ACH requests but still we are at the mercy of these services there is only so much we can do.

sigma

Once my friend sent DD through money2india ( ICICI's website) to me. After a week I did not receive the money and then I tried to follow up with m2i and after every day phone calls, they sent me the DD. The DD was cut 3 days after ACH debit date but it was not dispatched. In another thread I shared this frustrating experience. They were not able to explain why they could not send the DD earlier.

I think some smartie in ICICI bank decided, that by keeping the DD to sit in the bank for few more days, the bank can enjoy the interest free capital. This happened couple of years back. And in those days, DDs will take about 10 days to arrive after ACH debit. I don't know about current situation. I am not using their site.

If you are NRI, every one is game !

I used to use sbi for money transfer, now I simply do a domestic wire from my US bank to the NY office of SBI and take it from there. Once the process was set, I have had no problems and the rate I get is pretty good.