NEWS & ADVICE : SAVINGS ACCOUNTS
Federal Bank inks a remittance pact with Saudi Bank 'Samba'
By Neelima Shankar
Jul 5, 2012
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Kerala based private bank. Federal Bank has made an remittance agreement with Samba Bank, a Riyadh based lender.

Under the pact, the Federal Bank customers will be able to encash the money transfers from the Samba Bank's 'SpeedCash Now' from any Federal Bank branch. The upper limit for remittances has been fixed at Rs. 50,000 per transfer.

Federal Bank has maintained a special emphasis on remittances from the Gulf region , and now has remittance arrangements with 67 banks and exchange houses in the region.

 

 


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