Indian private sector lender ICICI Bank has tied up with SADAD Electronic Payments to offer remittance service, named Touch n Remit, for non-resident Indians (NRIs) based in Bahrain.
The 24X7 remittance service will enable NRIs, with or without accounts in ICICI Bank, to transfer money instantly to India from SADAD’s kiosks across the Kingdom of Bahrain.
The service will be available following one-time registration by remitters and beneficiaries in the ICICI Bank Bahrain branch.
ICICI Bank beneficiaries will receive the money instantly after transfer while other bank’s beneficiaries will receive funds between two and 24 working hours.
Touch n Remit will provide confirmed exchange rates, eliminating the worries associated with volatile exchange rates via the kiosks having a multilingual interface in Hindi, English and Malayalam.
ICICI Bank president Vijay Chandok said: "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."