TimesofMoney launches remittance solution for NRIs

Remit2India, the flagship brand of TimesofMoney, today launched a remittance solution called My Exchange Rate, targeted at its NRI customers in the United States.     

"Using this facility, NRI customers now have the choice of fixing the exchange rates for making a remittance to India," a company release said here.     

"The remittance transaction goes through only if the rupee-dollar hits the exchange rate specified by the customer. With this offering, NRIs can make remittances starting from $1,000," it said.     

NRI customers also have the choice of sending money through various options such as automated clearing house (online transfers), cheques, wire-transfers and PayPal, among others, the release said.    

The product does away with the need to check exchange rates multiple times before executing the actual transaction. It also protects the customer from the vagaries of exchange rate fluctuations.