IndusInd Bank, Wise partners to enable NRIs transfer fund to India

IndusInd Bank Announced its collaborative move with Wise to enable online inward remittance services for non-resident Indians (NRIs)NRIs) is based in the United States and Singapore, according to a company statement.

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Indus Fast Remit (IFR), the bank’s multi-partner remittance service platform, and Wise Platform have partnered to offer a multi-currency inward remittance service to NRIs.

Indus Fast Remit is a multi-partner digital platform that facilitates remittances to India especially from NRIs. Customers can choose from several exchange bureaus or money transfer companies that offer competitive rates with a single login and an all-in-one digital solution.

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Customers of “IndusInd Bank – Indus Fast Remit” can transfer money from two global markets at forex rates as they will be able to compare rates and know the exact amount of credit without charging any profit margin.

NRIs can now book remittance transactions on IFR and credit to their family, which will be in line with RBI (Reserve Bank of India) Rupee Debit Arrangement (RDA) scheme through Wise’s RDA Partners in India. Indus Fast Remit will also encourage customers to open Non-Resident Overseas (NRE) / Non-Ordinary Resident (NRO) Accounts with IndusInd Bank.

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