Money2India Review Verdict
Money2India is the UK-to-India transfer service run by ICICI Bank UK. It pairs the trust of a major Indian bank with sharp pricing, and you do not need an ICICI account to use it.
There are no transfer fees, and the margin baked into the rate is tight, around 0.61% the day we checked. That puts it neck and neck with Wise on cost, which is rare for a bank-backed service.
The catch is focus. It only does India, the app onboarding can be fussy, and the Trustpilot footprint is tiny. But if India is your one corridor, it is an excellent, low-cost option.
Best for
- Anyone sending money regularly from the UK to family in India
- People who want a major bank behind the transfer, not just an app
- ICICI India account holders, who get instant credit
Look elsewhere if
- You also send to countries other than India
- You want cash pickup rather than a bank deposit
- You need a long, reassuring review history before you trust a service
How Much Does Money2India Cost?
Zero fees, and a tight rate
Money2India keeps it simple. We confirmed there is no transfer fee on any amount in 2026, so the only cost is the margin built into the exchange rate. For a remittance service that is a clean structure.
That margin is small. We checked it on 27 June 2026: the mid-market rate sat near 124.76 rupees to the pound, and Money2India offered about 123.94. That is a margin of roughly 0.61%.
To put that in context, high-street banks routinely bury 3% to 6% in the rate, and even specialist apps run 0.5% to 1.5%. So a bank-owned service at 0.61% is genuinely cheap.
The confirmed rate, locked at booking
One useful feature is the "Confirmed Exchange Rate". When you set up a transfer, the rate is locked at that moment, so a dip in the market while your money clears does not cut your recipient's payout.
You can also set Rate Alerts in the app to be told when the pound-to-rupee rate hits a level you want. That helps if you can wait for a better day to send.
Worked Example: £1,000 to India
These are sourced figures dated 27 June 2026, and we compared Money2India against the mid-market rate and two rivals. Rates move daily, so check the live rate before you send.
| Provider | Rate | Recipient gets |
|---|---|---|
| Mid-market (interbank) | 124.76 | ₹124,760 |
| Money2India | 123.94 | ₹123,940 |
| Wise (mid-rate, £6.60 fee) | 124.76 | ₹123,936 |
| Remitly (standard) | ~122.96 | ₹122,715 |
The mid-market rate was about 124.76 that day. Money2India's zero-fee transfer delivered roughly ₹123,940 on £1,000, about ₹820 under the interbank ideal.
That lands it within a few rupees of Wise, which uses the mid-rate but charges a £6.60 fee. Both beat Remitly's standard rate. Remitly only wins with its promotional first-transfer rate, which is a one-off.
Costs to watch
- The roughly 0.61% margin in the rate, your only real cost here
- Remitly's promo rate beats it once, but not on repeat transfers
- The receiving bank in India may apply its own conditions on large sums
Where and How Can You Send Money?
India, and only India
Money2India does one job. We confirmed it sends pounds to rupees, paying into any of more than 100 Indian banks, using India's IMPS, NEFT or RTGS rails to credit the account directly.
You do not need an ICICI account at either end. You can register as a guest, fund the transfer from your existing UK bank, and pay out to your family's regular Indian bank account.
Because it is built around this one route, it is worth lining up against the apps on the UK to India money transfer route to see who delivers the most rupees on the day.
Funding, limits and speed
| Pay in | UK bank transfer (Faster Payments) or a UK debit card; no credit cards |
| Surcharge | None on debit card payments |
| Daily limit | £25,000 |
| Monthly limit | £250,000 |
| To ICICI India | Instant, usually within minutes |
| To other Indian banks | A few minutes up to about 4 hours |
Who Is Money2India Best For?
Regular senders to family in India
This is the heart of it. If you send money home to India every month, the zero fee and tight margin make Money2India one of the cheapest reliable options, and the bank backing adds peace of mind.
For repeat transfers to a known bank account, it is hard to beat on price and speed.
ICICI India account holders
A strong fit. If your family banks with ICICI in India, the money lands instantly, within minutes, which is faster than many app transfers to other banks.
People who send to several countries
Not the best fit. Money2India only covers India. If you also send to, say, Nigeria or the Philippines, a multi-corridor app keeps everything in one place.
When another provider fits better
- You send to more than one country
- You want cash pickup instead of a bank deposit
- You are a brand-new user chasing the best one-off promo rate
Money2India Pros and Cons
✓Pros
- No transfer fees on any amount
- A tight exchange-rate margin, around 0.61% the day we checked
- Backed by ICICI Bank UK, a regulated UK bank
- Instant credit to ICICI India accounts
- No need to hold an ICICI account to send
✕Cons
- India is the only destination
- Onboarding and KYC can be fiddly in the app
- A very small public review footprint
- Credit cards are not accepted for funding
- A new-user promo elsewhere can beat it on a first transfer
Is Money2India Safe?
Who runs it and how your money is protected
We checked the FCA Register. Money2India is operated by ICICI Bank UK PLC, a UK bank authorised by the FCA and PRA under firm reference number 223268. So a real, regulated bank is behind it.
There is an important nuance for your money. Deposits held with the bank are FSCS-protected, but money moving through Money2India is safeguarded in transit, held separately, rather than FSCS-covered. That is the same model Wise and Remitly use.
Verification and the rate lock
Like any regulated service, Money2India runs identity checks before your first transfer, and users report the app can be picky about address entry and document uploads. It is worth allowing time before a deadline.
Once you are set up, the Confirmed Exchange Rate protects you from a market dip while your payment clears, and direct bank credit means no third party handling the cash in India.
Using Money2India: Sending, Funding and Support
Setting up. You register online, free, as a guest or ICICI customer, add your recipient's Indian bank details, and the platform confirms the rate before you pay. Existing ICICI UK customers can send straight from their normal online banking.
Paying. Fund the transfer by UK bank transfer through Faster Payments, or with a UK Visa or Mastercard debit card. Credit cards are not accepted, and there is no surcharge on debit.
Support. As part of a bank, Money2India offers standard customer service channels. Keep your transaction reference handy, since the most common friction we saw is verification delays rather than lost money.
Money2India Customer Reviews and Reputation
We read the available reviews rather than just the score, and the honest picture is that the public sample is very small, so treat it with care.
| Source | Score | Reviews | As of |
|---|---|---|---|
| Trustpilot | 2.1/5 | 55 | July 2026 |
| What people praise: the competitive rate, the zero fee, and fast, reliable credit to ICICI India accounts. |
What goes wrong: fiddly onboarding and the occasional verification hold-up before a first transfer clears. The tiny review count means no single score is very reliable.
How Does Money2India Compare?
For UK-to-India transfers, Money2India is one of the cheapest bank-backed options, and you can weigh it against the apps in our money transfer comparison.
The fintech rivals match it closely. Our Wise review shows the mid-market rate with a small fee, which landed within a few rupees of Money2India on £1,000, while our Remitly review wins on a first-transfer promo but trails on the standard rate. Two more India specialists sit close by: our Aspora and SBI UK reviews.
Rates move daily, and we refresh the live figures, so run a live comparison of today's rates and fees before you send. If you are paying a supplier or moving company money to India, compare dedicated international business payments options instead.
Final Verdict: Is Money2India Worth It?
Money2India is one of the best-value ways to send money from the UK to India, with no transfer fee, a tight rate margin and the backing of a major bank. For regular remittances to an Indian bank account, it is a strong, low-cost choice.
For that job it earns 4 out of 5. The pricing rivals Wise, the rate lock adds certainty, and ICICI India payouts are instant, which matters when family is waiting.
Just know its edges. It only serves India, the sign-up can be fiddly, and the public review trail is thin. If India is your one corridor, it belongs on your shortlist; if you send more widely, a multi-country app may suit you better. Compare the live rate before you send.
Money2India FAQs
There is no transfer fee on any amount. The only cost is the exchange-rate margin, which was about 0.61% above the mid-market rate the day we checked. That makes it one of the cheaper ways to send pounds to rupees, close to Wise on a £1,000 transfer.
No. You can register as a guest and fund your transfer from any UK bank account or a UK debit card. Payouts go to any of more than 100 Indian banks, not just ICICI. If your recipient banks with ICICI in India, the money arrives instantly.
Transfers to ICICI Bank accounts in India are usually instant, within minutes. Payouts to other Indian banks travel over IMPS or NEFT and typically arrive within a few minutes to about 4 hours, depending on the bank.
Money2India is run by ICICI Bank UK PLC, an FCA and PRA authorised UK bank (FRN 223268). Money in transit is safeguarded, held separately from the bank's own funds, the same protection model used by Wise and Remitly. It is not FSCS-covered while it is being transferred.
There is no transfer fee on any amount. The only cost is the exchange-rate margin, which was about 0.61% above the mid-market rate the day we checked. That makes it one of the cheaper ways to send pounds to rupees, close to Wise on a £1,000 transfer.
No. You can register as a guest and fund your transfer from any UK bank account or a UK debit card. Payouts go to any of more than 100 Indian banks, not just ICICI. If your recipient banks with ICICI in India, the money arrives instantly.
Transfers to ICICI Bank accounts in India are usually instant, within minutes. Payouts to other Indian banks travel over IMPS or NEFT and typically arrive within a few minutes to about 4 hours, depending on the bank.
Money2India is run by ICICI Bank UK PLC, an FCA and PRA authorised UK bank (FRN 223268). Money in transit is safeguarded, held separately from the bank's own funds, the same protection model used by Wise and Remitly. It is not FSCS-covered while it is being transferred.
Verified 27 June 2026. Provider data cross-checked against the FCA Register, icicibank.co.uk, Wise, Remitly and Trustpilot via the Money2India deep-research source set. Live rate figures are illustrative and refreshed by the Currency Expert comparison engine.
Currency Expert compares money transfer providers and may earn a commission when you use our links. It does not change how we rank providers or what we say below. Rates and fees move daily, so the figures here are dated; confirm the live rate on the Money2India site before you send.