Standard Chartered Bank India has launched its online remittance service solution.
It will offer clients an option to undertake both outward and inward remittances at their convenience.
The outward remittance online service will enable clients to transfer funds overseas using their laptops or mobile phones.
Through this service, resident Indians, expats working in India and non-resident Indians (NRI) / persons of Indian origin (PIO) can send funds overseas from India, for multiple reasons such as for education fees, gifts to relatives’ and medical expenses.
Standard Chartered will oversee the funds and equivalent Indian Rupees will be credited to the beneficiary account after due diligence checks are carried out.
Details
The benefits of the service include:
- Convenience: Hassle free option to initiate remittances online;
- Intuitive interface that displays purpose linked documentation to the client;
- One-time beneficiary registration;
- Personalised experience with customised pricing, based on segment and relationship;
- Tracking status of transaction; and
- Viewing transaction history with complete details.
Nitin Chengappa, head of NRI at Standard Chartered Bank India, said: “This platform should offer the convenience that our clients have always been looking for.
“Given the increasing need of remitting outside India for children’s education, medical treatments, gift to relatives, it will offer our clients the opportunity to carry out these transactions in a few basic steps on a desktop or through the mobile app.”
