App marks ICICI Bank’s foray into Canada’s remittance market
ICICI Bank Canada, a wholly owned subsidiary of ICICI Bank Limited, has launched a mobile banking app, ‘Money2India (Canada)’, with a single transaction limit of CAD 30,000.
The app enables customers of any bank in Canada to send money instantly and round the clock to any bank in India without opening an account with ICICI Bank Canada.
Customers of any bank in Canada can send money through the app using their Visa / Mastercard debit cards. 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 ‘Money2India (Canada)’ app marks ICICI’s foray into Canada’s remittance market. 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, ICICI Head – International Banking Group Sriram Iyer 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.”
The ‘Money2India (Canada)’ app features include:
• Digital verification of identity: Users can complete their identity verification digitally from anywhere in Canada, thereby having a seamless onboarding experience
• Instant addition of beneficiary: Users can add beneficiaries immediately and transfer money to them instantly
• Set future dated/recurring transfers: The app offers the facility of future dated/recurring transfers to beneficiaries in India for the customers of ICICI Bank Canada who wish to transfer at a defined frequency
• Regular updates and tracking: Users can get regular text or email updates on transactions
• 24×7 toll-free contact center: Customers get 24×7 contact center both in Canada and India
ICICI conducts business as a full-service direct bank under Canada’s Bank Act. Fiinews.com
