Kotak Mahindra Bank Unveils Online Remittance Service

Kotak Mahindra Bank today announced the launch of FUNDStoHOME, an online remittance service for non-resident Indians (NRIs). With a user-friendly Web interface, FUNDStoHOME offers a range of remittance services that are fast, economical and secure, a press release from the bank said.

On offer is Direct Debit, a unique online remittance facility that uses the automated clearing house platform in the US.

It is a convenient and faster alternative to visiting a bank or posting a cheque and can be executed online. Other services include Wire Transfer and Cheque.

Wire Transfer, a fast and secure medium of international funds transfer mechanism, will enable NRIs to remit funds from their overseas bank accounts directly to the desired bank account in India.

 

Dipak Gupta, executive director, Kotak Mahindra Bank, said: