Yes Bank launches online remittance platform

Source: Yes Bank

YES BANK, India's fourth largest private sector Bank, has launched YES Remit, an online remittance platform for NRIs based in the GCC, United Kingdom and countries comprising the Euro zone.

The facility empowers NRIs to send money into an account with YES BANK or any other bank account in India. As a differentiated proposition, YES BANK is offering Superior Exchange Rates with NIL Transaction Charges on all the remittances. The YES Remit platform will be gradually extended across geographies and currencies, in a phased manner.

The YES Remit service has been created in association with TimesofMoney.

Quick Facts of YES Remit

Superior Exchange Rates
Nil Transaction Charges
Online tracking of remittances
Round-the-clock customer service assistance
FREE e-gift vouchers on remitting money with YES Remit
Being bank-agnostic, anyone can use this service to transfer funds to India


Commenting on the offering Mr. Pralay Mondal, Senior Group President, Retail and Business Banking, said, "While augmenting our focus on YES BANK's Global Indian Banking (NRI business), we realized that seamless online money transfer back home was one of the biggest challenge for NRIs. YES Remit will now enable NRIs to transfer money back to India within the comfort of their home or office while enjoying an superior exchange rate and NIL transaction charges. TimesofMoney is a pioneer in this space and through our association we will strive to offer a superior and seamless Remittance facility to NRIs."

YES BANK was the first Bank to offer Interest rate of 7.0%for Resident as well as Non-Resident Indians (NRE/NRO) Savings accounts, with balances over Rs. 1 Lakh and 6% interest for balances below Rs. 1 Lakh, post the savings rate deregulation by the Reserve Bank of India

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