Wells Fargo and HDFC Bank sign agreement for US-India remittance service

Send remittances to India from a network in India of around 5,200 branches

Wells Fargo & Company has doubled its ExpressSend remittance network payout locations in India through an agreement with HDFC Bank (view press release). With the addition of HDFC Bank’s around 2,500 branches and approximately 8,900 ATMs, Wells Fargo customers’ beneficiaries can now send remittances to India from a network in India of around 5,200 branches and approximately 16,000 ATMs. Wells Fargo ExpressSend customers can send up to USD5,000 per day to their beneficiary’s HDFC Bank account using the account-based ExpressSend service for a USD5 fee which will be waived through August 31.

Remittances to HDFC Bank are denominated in Indian Rupees. Once a customer has set up the ExpressSend agreement and the beneficiary account information is verified with HDFC Bank, the customer needs to conduct their first transaction in a store. Subsequent account-based transactions can be conducted online, in branch or over the phone. Funds are sent to HDFC Bank for credit during HDFC Bank’s local processing hours: Monday – Saturday, excluding India holidays. 

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