Xoom launches instant deposit service to HDFC Bank accounts in India

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Xoom has announced a partnership with HDFC Bank, by offering instant deposits to INR denominated HDFC Bank accounts in India.

This joint service will enable Xoom customers to instantly deposit money directly into their recipients’ HDFC Bank accounts, the service is instant and is available 24/7 and even on banking holidays.

“Unlike other transfer services to India which typically take five days or more, Xoom is relentlessly working towards providing ‘instant’ for all of our services, and we are excited to launch instant deposits to HDFC Bank,” said Julian King, Senior Vice President of Marketing and Corporate Development for Xoom. “This is great news for people who send money to HDFC Bank accounts. Now NRIs can send money anytime, anywhere from their computer, mobile phone or tablet and their bank deposits reach their recipients’ HDFC Bank account instantly.”

“At HDFC Bank, we are consistently looking at new ways in which we can make a difference in the lives of our customers. Through this tie-up with Xoom we will be able to provide this breakthrough service of instant deposits,” says Mr. Rajender Sehgal, Group Head, Financial Institutions Group, HDFC Bank. “We look forward to bringing a whole new world of convenience and flexibility to our account holders, allowing them to receive money from the US in a secure manner, at any time of the day or night.”

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