This is a real time instant account credit facility in partnership with UAE Exchange. It enables NRI customers to remit money on real-time basis into beneficiary accounts maintained with any Bank of Baroda branches in India. The main feature of this product is that it not only credits the amount to beneficiary account instantly, but also the remitter and beneficiary both shall receive a credit confirmation SMS in their respective mobile phones. This removes the anxiety of both the sender and receiver of remittances and saves further follow up time and the cost. This is a faster and secured mode of remittance available 24X7, 365 days, which includes Sundays and bank holidays.
NRI customer desirous of sending remittance through Baroda Flash Remit may visit any of UAE Exchange location overseas with KYC (Photo ID card, Address proof and any other documents as required by UAE Exchange) documents and tender local currency. After verification of beneficiary details with Bank of Baroda, UAE Exchange remits the amount in INR instantly.
- Safe and secured
- Rs.200,000/- per transaction
- Only personal remittances and no trade transactions
- Accepted presently at about 750 UAE Exchange outlets in 32 countries
- No charges deducted from the beneficiaries on receipt of remittance by the bank in India
- As the account number and name of the beneficiary is verified before sending the remittance, the possibility of mismatch of the same is avoided unlike in other modes.
Please visit UAE Exchange website www.uaeexchange.com for branch location, exchange rate, charges, etc.