Digital money transfer provider Xoom Corporation is enabling NRIs (Non-Resident Indians) to use its money transfer service to send bank deposits directly to their NRE (Non-Resident External) and NRO (Non-Resident Ordinary) bank accounts in India.
NRIs can now send bank deposits within four hours to recipients with NRE/NRO accounts, with great locked-in exchange rates.
“In a continued effort to provide superior services to our customers, Xoom now introduces bank deposits to NRE/NRO accounts, giving NRIs every reason to use Xoom,” said Julian King, Senior Vice President of Marketing and Corporate Development for Xoom. “Plus, with our new App for Android and iOS devices, Xoom is committed to making money transfers easy and trustworthy for everyone.”
Bank deposits are processed in India through Xoom’s partner Punjab National Bank. “We are pleased to partner with Xoom to provide NRIs a fast and easy way to send remittance to their NRE/NRO accounts, and other Rupee denominated Bank accounts in India,” said Mr. Thyagarajan, GM IBD, Punjab National Bank.
Customers can send money to all Rupee-denominated bank accounts in India, including NRE/NRO accounts within four hours, when sent during India bank processing hours. The service is available to all major banks in India including Punjab National Bank, ICICI, HDFC, SBI, Axis Bank, Citibank and many more. Customers can send up to USD2,999 per transaction.
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