NEWS & ADVICE : SAVINGS ACCOUNTS
Axis bank introduces new service to facilitate inward remittance from Gulf region
By Neelima Shankar
Jul 6, 2012
Print    Email    RSS   

The private sector bank, Axis bank has formed a tie-up with UAE Exchange and Financial Services to introduce a service which would facilitate inward remittances by mobile phones.

The bank issued a statement which said that the tie-up would enable people to send money to recipients in India to a registered mobile using agent locations of UAE Exchange and Financial Services, named Xpress Money.

At present, Xpress Money, uses the services of 1.35 lakh agent locations across 125 countries.

In order to receive the money, the beneficiary needs to be registered with any branch of Axis bank. The registered beneficiary will then use the codes sent to the registered mobile number to withdraw money sent from any Axis bank ATM.

On the matter, Axis bank's president and head of treasury and international banking, Mr. P Mukherjee said, "This solution will help customers eliminate the need to visit physical agents and provide documentation every time they receive a money transfer."

The bank statement also mentioned that a maximum of 30 transactions in a year can take place, and the maximum amount per remittance is fixed at Rs. 18000.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #4
Carnival of Indian Personal Finance Blogs #6
Carnival of Indian Personal Finance Blogs #1
Steps to file Income Tax return online
Savings account portability: How...


indivdual account balance check
May I get on line view of my savings account for...
register mobile
can i know my account balance?
how can I change my bank account mobile number
sir my new mobile number .7378547151 my account...

NEWS THIS WEEK
HDFC bank adjudged as the Best private bank in India Feb 16, 2015
HDFC reported an increase of 20% in its net profit Feb 16, 2015
ICICI bank launched Flash remit facility Feb 13, 2015
BOM launched new savings deposit scheme for HNI customers Feb 12, 2015
BMB bank to have a total of 80 branches by the March end. Feb 10, 2015
News Archive