Emirates bank, SBI join hands for easier remittances

In Banking and Finance
November 11, 2015

A leading UAE-based bank has announced a partnership deal with State Bank of India. This partnership has been handed to help NRI customers in the gulf carry out their remittances instantly and more conveniently. Emirates NBD has expanded its partner bank network in India to include State Bank of India (SBI) for the Direct Remit 60 seconds remittance platform.

How this partnership will be useful??

With this partnership, the bank’s Non-Resident Indian (NRI) customers who also bank with SBI can now avail themselves of the fastest remittance service in the UAE more easily.
The tie-up with SBI will help strengthen Emirates NBD’s Direct Remit platform which is set to benefit a large additional customer base in the UAE.
The DirectRemit platform is amongst the most popular services as it provides customers with an on-the-go, quick and free mechanism to transfer funds instantly to their home country.
With the pick-up in India’s economic growth, we will see the pace of remittances growing much faster than earlier.
Emirates NBD customers can also transfer money to other banks in India with their remittance being processed within an hour.
Customers can avail of the 60 seconds money transfer service via online, mobile banking & ATMs.
With Direct Remit, customers will be able to transfer funds back home instantly and can also make home loan payments, pay bills, remit insurance premiums or carry out out investments.