Axis Bank, India’s third largest private Bank, announced its tie up with Bank Albilad, Saudi Arabia, for remitting money from Saudi Arabia to any person in India.
Axis Bank has entered into an agreement with Bank Albilad, Saudi Arabia for offering remittance facilities to India. Customers can use this service for money transfers to India from nearly 116 dedicated remittance centres, called Enjaz centres, spread across the Kingdom of Saudi Arabia. Such remittances would be processed seamlessly and disbursed to the intended beneficiaries by Axis Bank within 24 hours, irrespective of whether they have a bank account or not.
Mr. P. Mukherjee, President & Head – Treasury & International Banking at Axis Bank, while speaking on the occasion said, “We are tying up with more and more overseas banks to provide Indians living abroad facilities to remit money to beneficiaries in India from across the globe in a quick, seamless and economical manner. This tie-up with Bank Albilad is an important milestone for Axis Bank as this is our first association with a bank in Saudi Arabia. The tie up will open up the Saudi Arabia to India remittance corridor for Axis Bank.
Axis Bank offers inward remittance facility to India through tie-up with various banks, exchange houses, money transfer operators as well as through wire transfer and its online money transfer platform, ‘AxisRemit Online’. ‘AxisRemit Online’ was launched earlier to allow remitters the convenience of remitting money to any account in India and tracking the remittance status on-line, without visiting any branch location. Axis Remit Online is being offered for remittances from over 8 countries/regions including the Gulf, USA, Europe, UK, Asia, Australia and Canada. Axis Remit Online is customer friendly as it offers the best exchange rates to its customers.
