Mumbai: South Indian Bank has signed a service agreement with 
TimesofMoney, India’s leading e-payments service provider to offer remittance solutions to NRIs in selected countries. This tie up would enable all NRIs across 22 countries, to remit funds online to any bank in India under the NEFT/RTGS network. This service provided by TimesofMoney would ensure all NRIs to get a robust transaction platform along with better pricing, safety and speedy money transfer.
Speaking on this partnership, Dr. V.A. Joseph MD & CEO, South Indian Bank said, “We have partnered with TimesofMoney to provide NRIs a secure, efficient and cost effective way to send money to their beloved ones back home. With TimesofMoney’s expertise and understanding of the remittance market we hope to provide an unmatched experience to our NRI customers”.
Commenting on the tie up, Mr. Avijit Nanda, President, TimesofMoney said, “We are delighted to partner with South Indian Bank which is one of the prominent banks in South India. As per World Bank report 2010 with 11.3 million emigrants, India ranks as the top remittance receiver in the world estimated at US$ 55 billion p.a. Remittance through the online channel is increasing at an incredible pace. We ensure that we provide a superior user experience to NRIs by helping them send money in a safe and simple manner. South Indian Bank, with its NRI focus combined with our proven expertise in managing online remittances would ensure that the customer gets an excellent platform to send money home to his family.”
NRIs can visit South Indian Bank’s website www.southindianbank.com and click ‘NRI Banking’ to get the link to ‘online money transfer’. This service provides a safe and convenient money transfer experience. However, there is a minimum and maximum limit for money transfers.
