XPRESS MONEY GLOBAL MONEY TRANSFER SERVICE

Abhyudaya Co-op. Bank Ltd. has entered into a strategic tie-up with UAE Exchange and Financial Services Ltd for facilitating global Money Transfer Service, Xpress Money through its branches. UAE Exchange and Financial Services Ltd. is the principal agent for UAE Exchange Centre LLC, Abu Dhabi, for facilitating Xpress Money Service in India

Xpress Money is a global instant money transfer service through which people can receive money from their loved ones from across the world within minutes. One of the fastest growing global brands in instant money transfers, Xpress Money has an agent network spanning over 50,000 locations in 100 countries across five continents. This extensive network, together with unique and unrivalled services helps to receive money in India from almost anywhere in the world, within minutes. Swiftness, security and convenience make it one of the favourite brands for instant money transfers. Unique features include payment confirmation to the sender through SMS on payment collection by the beneficiary, which helps avoid costly follow-ups.

Xpress Money is available to our account holders and non-account holders, under the Money Transfer Service Scheme by RBI. It facilitates instant payment of foreign inward remittance in cash (for amount less than Rs. 50,000/-) to individual beneficiaries in India within minutes. The service is a boon to NRIs and their families in India as well as foreign tourists visiting India and foreign students studying in India. It is a hassle free instantaneous payment to beneficiary against photo identification.

Xpress Money in India operates within the purview of RBI guidelines and within the following framework.

• Only personal remittance such as remittance towards family maintenance and remittances favouring foreign tourists visiting India are permissible.
• Maximum permissible limit per transaction for Xpress Money is USD 2500 or ts equivalent.
• Only 12 transactions per beneficiary are permitted in a calendar year