Federal Bank ties up with Samba Bank

Federal Bank has a strong presence in inward remittance from Gulf countries with 67 remittance tie ups with major exchange houses/banks, the biggest tally for any bank in India

Kerala-based Federal Bank today said it has tied up with Samba, one of the largest banks in Saudi Arabia, for disposal of 'SpeedCash Now' remittance.

Under the arrangement, remittances received through Samba under 'SpeedCash Now' can be encashed by the beneficiaries in cash from any of the 976 branches of Federal Bank across the country. An amount of up to Rs 50,000 can be encashed per remittance.

Federal Bank has a strong presence in inward remittance from Gulf countries with 67 remittance tie ups with major exchange houses/banks, which is one among the biggest tally for any bank in India.

On the new partnership with Samba, A Surendran, Additional General Manager and Head of International Business Department, said Federal Bank has reinforced its commitment to Indian expatriates to channelise personal remittance to India hassle free.