ICICI Money2India
Exchange rates not honoured

I had initiated an e-Transfer transaction on 22-Jul for USD 2200. I have received an amount of INR 1, 01, 505.00 on 28-Jul with a conversion rate of 46.15.

I have verified from some of the standard FOREX web-sites that the conversion rate has not gone below 46.75 from 22-Jul to 28-Jul.

I had called the customer care and they have told that the exchange rate at the time of the transfer is considered which should be between 22-Jul to 28-Jul.

First of all, there is no transparency on which day’s exchange rate is being considered. Above this, a low exchange rate has been considered for this transaction which has never occurred between 22-Jul to 28-Jul.

On 30-07 also when I checked the ICICI exchange rate website while doing the transfer, it had shown 46.38 but at last when I got the money on 03-09, I got only 46.17.

Company: ICICI Money2India
Country: India

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