News Karnataka
Tuesday, October 04 2022

UAE bank launches service for speedy money transfer

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Dubai: ‘Emirates NBD’ an UAE-based bank has launched ‘DirectRemit’ service which would enable customers to speedily transfer money to other banks in India.

This service would also allow Non-Resident Indian (NRI) customers to remit money to any HDFC Bank account in India in just 60 seconds,sources said.

Emirates NBD said with the launch of this service, customers can transfer money to other banks in India with their remittance being processed within an hour.

The service is free for all transfers to HDFC Bank and ICICI Bank accounts in India, and attracts only a nominal charge of AED 10 for transfers to all other Indian banks.

This service would also enable the NRI customers to have the quick remittance service from the UAE, especially when sending money home for special occasions, a family emergency, or to capture a good investment opportunity

As part of the ‘DirectRemit’ offering, customers can open joint accounts, invest in wealth management products, pay their utility bills, insurance premiums, and loan payments, among others, with an account with Emirates NBD’s partner banks in India.

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