Private sector lender DCB Bank has launched a remittance service to facilitate customers send money online globally.
Under DCB Remit, any resident Indian can register online and transfer funds across 20 countries, including the US, Canada, Australia, the UK, the UAE and Germany, the bank said in a release.
After the exchange rate of money is fixed, customer transfers the funds from any account to DCB Bank account which is then transferred to the beneficiary account abroad latest by the next business day.
"This unique outward fund transfer saves time and effort. It is one of many disruptive products we have launched in the growing area of digital remittances," said Praveen Kutty, Retail and SME Banking Head of DCB Bank.
DCB Remit has been launched in association with Avenues Payments, a technology product company specialising in facilitating cross border payments.
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