MUMBAI:
DCB Bank, a new-generation private sector bank, has introduced a revolutionary service called ‘DCB Remit’ that allows a resident Indian having a bank account in India to remit or send money online, globally.
DCB Remit is an easy-to- use service where any resident Indian can register online and transfer funds across 20 countries, including the US, Canada, Australia, the UK, the UAE and Germany, and track the same from a mobile phone.
Here’s how it works: Once the exchange rate is locked, the customer can transfer the funds from any account to DCB Bank’s account. The funds will then be transferred to the beneficiary account abroad latest by the next business day.
DCB Remit service is available anytime, online. Sending money to relatives abroad can be for many reasons, such as, (1) children’s education and accommodation at a foreign school or university, (2) medical and hospital expense, (3) family living expenses, (4) business travel.
The Reserve Bank of India’s rules are applicable for such overseas funds transfers. DCB Bank Retail and SME Banking Head Praveen Kutty said, “DCB Remit offers customers a smooth on- the-go banking experience — they no longer have to visit a bank branch or a money exchange outlet to send funds abroad. This unique outward fund transfer also known as outward remittance, saves on time and effort and reaches out to near and dear ones living abroad. Funds transferred abroad through DCB Remit are done with ease and comfort. It is one of many disruptive products we have launched in the growing area of digital remittances.”
DCB Remit has been launched by DCB Bank in association with Avenues Payments. The two entities bring respective domain experience to power DCB Remit. Avenues Payments CEO Naushad Contractor said, “We are excited to work with a dynamic and futuristic bank such as DCB Bank, to serve a diverse set of customers with our deep domain expertise in technology and DCB Bank’s business expertise in banking. DCB Remit is a path-breaking product in the digital payments space, making overseas payments fully paperless and available 24×7.”
Vishwas Patel, Director – Avenues Payments and also Founder & CEO – CCAvenue, said, “Our partnership with DCB Bank will truly digitize payments across the country. This robust and flexible platform will enable DCB Bank to provide agile and efficient remittance services and show the way in a rapidly changing remittance market”.
