Middle East banking group Emirates NBD has launched DirectRemit, a new remittance service designed for non-resident Indian (NRI).
The direct bank transfer service, which is said to be the fastest in the UAE, also allows customers to transfer money to any HDFC Bank account in India in 60 seconds, while credit to all other Indian banks will be processed within 60 minutes.
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For all transfers to HDFC Bank and ICICI Bank accounts in India, the service is free, while transfers to other banks costs AED10 transaction fee.
Emirates NBD Retail Banking and Wealth Management general manager, Suvo Sarkar, said:"One of the constant concerns that we hear from our NRI customers is the need for a quick remittance service from the UAE, which is critical to them especially when sending money home for special occasions, a family emergency, or to capture a good investment opportunity.
"It is against this backdrop that we have launched "DirectRemit" to India, a unique facility that promises the most efficient and fastest remittance service currently available in the UAE."
"We are also looking at expanding this service to cover other countries in the near future," he added.
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By GlobalDataWith an account with Emirates NBD’s partner banks in India, customers can open joint accounts, invest in wealth management products, pay utility bills, insurance premiums, and loan payments, among others.
