Private sector lender Axis Bank has inked a deal with Malaysian lender, Malayan Banking Berhad (Maybank), regarding fund transfer services.
As part of the deal, customers can remit money from Malaysia to account holders in India.
The fund transfer will take place under Maybank Money Express (MME) service.
The sender can now remit money without hassle to beneficiaries in India. The only condition is that the beneficiary should hold an account with Axis Bank.
Commenting on the tie up, P. Mukherjee, President & Head - Treasury & International Banking at Axis Bank said, "Axis Bank's tie-up with Maybank to offer instant remittances will help Indians living in Malaysia remit money to beneficiaries in India in a quick, seamless and economical manner."