I just used the power transfer feature to transfer 50 lacs for a flat installment in India. ICICI produced an instructions sheet which I was supposed to take to the local bank in US for initiating a wire transfer into ICICI's account in Bank of New York.

The instructions sheet is so confusing and inaccurate that the Bank of America officials here are laughing at it. My wire transfer to Bank of New york has got cancelled twice and all ICICI says is this "PLZ CHECK THE INSTRUCTIONS SHEET". The sheet doesn't mention whether the wire transfer should be domestic or international. And when you ask this question to ICICI customer service you will get different answer each time (This happened to me). BTW, this made it even more complex.

I wish ICICI management reads ALL complains here and take needed actions immediately.

Just opened an account with ICICI Money2India service and found that the exchange rate is decreasing while overall exchange rate in the market is improving. Check other service provider and they are aligned with current market exchange rate. Why ICICI keeps large difference that part I don't and will never understand.

BOTTOM LINE: STAY AWAY FROM ICICI. I WOULD LIKE TO SEE THEY CLOSE MONEY2INDIA SERVICE.