Money & Banking

ICICI Bank offers unique remittance service to Bahrain NRIs

Beena Parmar | Updated on March 10, 2015 Published on March 10, 2015

‘Touch n Remit’, is a 24X7 remittance service in Bahrain and is available to all NRIs. File Photo   -  Reuters

ICICI Bank, India’s largest private sector bank, has tied up with SADAD Electronic Payments WLL to offer remittance service for NRIs based in Bahrain, enabling them to transfer money instantly to India from the latter’s kiosks spread across the Kingdom of Bahrain.

‘Touch n Remit’, is a 24X7 remittance service in Bahrain and is available to all NRIs, even if they don’t have an account with ICICI Bank. Funds can be transferred by anyone, including non-customers of ICICI Bank, to over 100 banks in India, round-the-clock, 365 days a year.

To avail this service, the remitters have to carry out a one-time registration for themselves and beneficiary by visiting the ICICI Bank Bahrain branch. Subsequent to the registration, they can visit designated SADAD kiosks with cash and initiate money transfer to over 100 banks in India including ICICI Bank, the bank said in a statement. 

ICICI Bank beneficiaries shall receive money instantly in their account, while other bank’s beneficiaries will receive funds in their accounts between two and 24 working hours. 

Vijay Chandok, President, ICICI Bank said, "At ICICI Bank, we constantly strive towards finding new solutions which add to the convenience of our users. With an experience of serving more than 1.5 million NRIs across the globe for over a decade, we have built significant expertise in the field of remittances. With ‘Touch n Remit’, we have equipped NRIs in Bahrain with a first-of-its-kind service that enables them to transfer monies to their loved ones in India anytime from conveniently located touch screen kiosks without any constraints like banking hours. With this new service, we continue to live up to our commitment to offer customer centric solutions enabling hassle-free money transfers.” 

With a multilingual interface in Hindi, English and Malayalam, the kiosks have user-friendly touch application to make money transfers easy and convenient. This service also provides confirmed exchange rates, thereby eliminating the worries associated with volatile exchange rates.

Remitters can track their money transfer status by quoting the transaction reference number by calling the ICICI Bank toll free number in Bahrain, 80004877 or SADAD toll free number in Bahrain, 80008338.

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Published on March 10, 2015
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