Dubai: Corporation Bank and global remittance and foreign exchange company UAE Exchange have entered into an agreement to offer FLASHremit services to customers.
The pact will enable customers to now send money real time to their beneficiaries' bank accounts in Corporation Bank.
The service will enable money transfer to bank account 'within minutes' and also intimate both sender and receiver through SMS on account credit.
Amar Lal Daultani, Executive Director - Corporation Bank, said that this new arrangement will benefit our customers.
"We have had a strong and long relationship with Corporation Bank. This new understanding for FLASHremit further strengthens it. UAE Exchange has always aimed at making money transfer a seamless and speedy experience, which is an aim we share with Corporation Bank," Y Sudhir Kumar Shetty, COO - Global Operations, UAE Exchange, said.
Seven banks in India have partnered with the remittance major since the launch of FLASHremit. Apart from India, FLASHremit extends convenience to customers in Philippines, Nepal, Sri Lanka and Pakistan & Bangladesh.
UAE Exchange has over 650 branches across 30 countries in five continents and has correspondent relationships with over 150 global banks.
Corporation Bank has been serving millions of customers since 1906. With over 6000 service outlets overseas, it is one of the premier public sector banks in India.