HDFC Bank today launched full value
outward remittance service in US Dollar (USD) Euro (EUR) and the Pound Sterling
(GBP) for trade and retail customers. The first-of-its-kind “Full Value”
feature ensures that when a customer sends money abroad, the full amount
remitted will reach the overseas beneficiary, without any deductions of foreign
bank charges.
The Bank till date has supported Full
Value remittance only for individual customers in USD denomination. In an
industry-first, it has expanded this offering to include Trade related
remittance transactions. Furthermore, it will be offered in USD, GBP and EUR
and will be applicable to current and savings account holders for both trade
and retail remittances sent worldwide.
“HDFC Bank has always been at the forefront of creating tailor-made,
innovative products to delight its customers. We are therefore excited to bring
out our full-value outward remittance service, not just for individuals but for
traders as well. We saw an acute customer need in the remittances space were
happy to address it. We are certain this product will be a game-changer for our
customers,” said Mr Jatinder Gupta, Business
Head, Retail Trade and Forex, HDFC Bank.
This service can be availed of by
approaching the branch for Trade related remittance from India, individual
related remittance under Liberalized Scheme and Non-resident remittances from
India in (in USD, GBP and EUR) and RemitNow – NetBanking portal (in USD only)
for foreign outward remittances under the Liberalized Remittance Scheme.
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