The National Bank of Oman (NBO), has forged an alliance with Federal Bank of India. Federal Bank will contribute its expertise to collaborate on a new money transfer service from Oman to India. The affiliation between the two banks signifies a noteworthy stride towards optimising international remittances, setting a new standard of excellence in financial services whilst upholding customer-centricity.

The collaboration is poised to have great effect on the remittance landscape by presenting digital solutions to individuals in Oman. With competitive exchange rates and a low transfer fee, this service is available in eight languages making it accessible. These languages include English, Arabic, Hindi, Bangla, Kannada, Telugu, Tamil, and Malayalam. This service operates 24/7, allowing users to instantly transfer funds, add beneficiaries, and conduct transactions on the go. It offers a fast, simple and secure way to transfer money. The primary channels for remittance are the NBO Mobile Banking Application and the extensive branch network across Oman.

Smooth and efficient money transfers between Oman and India

Tariq Atiq, General Manager and Chief Retail and Digital Banking Officer, commented: “With great enthusiasm, we announce our affiliation with Federal Bank. This dynamic cooperation empowers us to initiate a new era of seamless digital solutions catering to individuals in Oman who seek to send funds to India. By leveraging technology’s potential, we strive to provide accessible and reliable remittance services. In turn, ensuring a smooth and efficient money transfer journey for our patrons.”

Shalini Warrier, Executive Director of Federal Bank, said, “We are thrilled to announce our remittance tie-up with NBO. This pact empowers non-resident Indians with best-in-class technology that assures fast and reliable remittances for the Indian diaspora. At Federal Bank, we consistently embrace cutting-edge technology to enhance our customers’ experience. As a key player in cross-border remittance and non-resident banking, we are confident that our partnership with NBO will significantly elevate customer satisfaction.”

This remittance arrangement aims to facilitate effortless money transfers. Utilising Federal Bank’s extensive network and expertise in the Indian banking domain ensures a smooth transaction process. NBO’s customers will gain the capability to directly send funds in Indian Rupees to their beneficiaries in India.

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