Axis Bank and UAE Exchange and Financial Services launched money transfer service for NRIs to transfer money to any registered mobile number in India.

 

The recipient can simply withdraw the money from any of the 10,000 Axis Bank ATMs with the help of codes sent to their registered mobile number.

 

The remittance amount must be in multiples of Rs 100 and is presently capped at Rs 18,000 per remittance transaction.

 

To avail of this service, customer is required to register once at any Axis Bank branch in India. A registered beneficiary can receive a maximum of 30 remittance transactions in a calendar year.

 

In September 2010, Axis Bank in partnership with Empays Payment Systems had launched ‘instant money transfer’, a mobile based domestic remittance service in India. The bank has now extended this facility for cross border inward remittances. 

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