Indian expatriates can now transfer money directly to their beneficiary having account in State Bank of Travancore across borders in India through FLASHremit, a real time account credit facility.
It was announced here on Sunday that this service is being introduced by Oman UAE Exchange in association with State Bank of Travancore.
An agreement was signed by both organisations in Muscat. Another advantage of this service is that the moment the account is credited, both the sender and the beneficiary receives SMS notification.
"We have always explored possibilities of introducing innovative technology to transfer money to India at lightning speed. We are glad to partner with State Bank of Travancore for FLASHremit which is famed not just for its lightning speed but also, for its safety. We are confident that this innovative product will bring more value to our customers while remitting to India and further strengthen our relationship with them," said Boban MP, CEO, Oman UAE Exchange said.
Speaking on the strategic tie-up, Jeevan Das Narayan, Managing Director, State Bank of Travancore said: "This is the age of digital banking and this strategic tie up will offer unparalleled services to our customers residing in Oman by enabling them the convenience to send money instantly to their beneficiaries in India."