ICICI Exchange rate for USD

[Sunny]

The exchange rate you receive depends on the amount you transfer. I called money2India and the slabs are:
1k-2k
2k-3k
3k-5k
5k-10k
10k-25k
> 25k same rate

[Satya]

Got another question :

Assume that I transfer the $ today online.....

and the rate shows the rate as 46.52, but as i heard that when the money will get debited to your account in india --that time whats the dollar rate will be applicable....

Any experienced guys can answer this :

[Srini]

You are correct..

[MtoI]

Thats not at all correct.
The Date and TIME it gets credited at that TIME the rate is applied.
I have immense Experience in this along with proof.

[Raj]

Yes ur right.. the money will get credited not debited to your account in india --that time whats the dollar rate will be applicable....

[Satya]

Hi Rutherford,

You mean : the day we transfer ammount thats the rate applied for the ammount which is deposited to india after 2 or 3 days ( whatever is the Exchange rate on that day)????

[MtoI]

Its like this:
Day 0: You create a Request

After that in around 2-3 working days, your US A/c will get Debitted.

On 5th Working Day (of India), you Beneficiary A/c will get creditted.
The TIME of the 5th Day when it gets creditted at that time whatever rate M2I site is showing will be applied.

Why I stressing on TIME of 5th Day bcoz the rate shown on site fluctuates intra day.

Hope I made is clear.

P.S. Just an advice and dont take it as promotion or something - Use SBI to transfer money. Its better rate + the rate applied is the rate u give request and not the rate 5 days after.
You just have to open SBI A/c and keep $$ in before transfer.

[Gen]

Yes I too accept SBI transfer is cool and more reliable on the exchange rate...Try and see....

[Rajni]

I agree with Gen and Mtol that SBI rates are much more cooler and reliable compared to others. I've been transferring money using ICICI, HDFC, Remit2India for long time but SBI is the Best of them all.