Media Release

- Vijaya Bank becomes the fifth bank in India to have the facility
- FLASHremit facilitates real-time account credit
- SMS notification to both parties on account credit

Dubai, Feb 23: "UAE Exchange has gained the trust of customers through unwavering focus on reliability, product quality and excellent service. We are a brand that is always keen on customer delight, which gave us a rich legacy of over three decades. We are sure that this new venture with Vijaya Bank will definitely enhance customer convenience," said Dr B R Shetty, Managing Director and CEO, UAE Exchange, talking on the occasion of joining hands with Vijaya Bank for FLASHremit.

The leading global remittance and foreign exchange brand partnered with the leading bank in India, for extending the real time account credit facility, FLASHremit to the customers.

Y Sudhir Kumar Shetty, COO – Global Operations, UAE Exchange stated “Money should reach the beneficiary faster and safer. UAE Exchange has always strived for this aim. FLASHremit furthers this vision of ours and takes money transfer to the next level by crediting the receiver’s bank account real time.”

“India is the largest receiver of remittances in the world today. To bring more convenience to the hard working, home-loving Indian expatriates and their families in India, we have found yet another like-minded partner in Vijaya Bank to extend FLASHremit to more customers. With this tie-up, the banks with FLASHremit facility in India have grown to Five. It shall be a double delight to Vijaya Bank customers that this break through instant credit product shall be offered at the same service charge as an ordinary transaction.” added Sudhir Shetty

H S Upendra Kamath, Chairman and Managing Director, Vijaya Bank said, “We are extremely happy to join hands with UAE Exchange, as they command immense trust of the customers. This tie up for FLASHremit enables Indian expatriates to credit money in their beneficiary’s account in Vijaya Bank real time. Our relationship with the remittance major has only grown stronger with this association, which will reflect as value addition to our customers across the length and breadth of the country.”

FLASHremit has revolutionised the account credit scenario, where the beneficiary will receive money in their bank account within minutes, in a secured manner. The moment the amount is credited to the beneficiary’s account, an SMS notification is instantly sent to the mobile phones of both the sender and the receiver, thus reducing on the follow up costs. Union FLASH Remit service with Union Bank of India is available 24 x 7, 365 days, which includes Sundays and bank holidays.
 
UAE Exchange has close to 600 direct offices in 30 countries across five continents around the world, which makes it the largest networked among exchange brands. Along with FLASH remit, UAE Exchange brings a variety of quality products like Smart Pay, the leading payroll solution; Xpress Money, the instant money transfer service with over 135,000 agent locations across 125 countries; Money2anywhere, the user-friendly online money transfer portal available across 10 countries; and XPay, the solution for easy bill payment through mobile phone.

UAE Exchange has a strong correspondent relationship with over 150 global banks. Currently FLASHremit is active in India, Nepal, Sri Lanka and Philippines. Soon more banks and countries will be able to avail this quality service.

For more information, visit www.uaeexchange.com and http://blog.uaeexchange.com.