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March 31, 2017updated 28 Jul 2022 5:24am

Wells Fargo and Axis Bank strike bilateral remittance pact

Indian private sector lender Axis Bank has tied up with US banking major Wells Fargo to offer remittance facility for its NRI-customers in the US.

By Verdict Staff

Indian private sector lender Axis Bank has tied up with US banking major Wells Fargo to offer remittance facility for its NRI-customers in the US.

The partnership will allow Axis Bank’s NRI customers to transfer money to their Indian accounts via the US lender’s ExpressSend Service.

The remittances can be sent at Wells Fargo’s branches, on phone or online. From 8 April 2017, customers can send money to their beneficiary account at Axis Bank free of any transfer fee, with the daily limit capped at $5,000.

Wells Fargo executive vice president and head of global remittance services Daniel Ayala said: “By adding Axis Bank to our network in India, this expansion will make it even more convenient for beneficiaries in India to receive their money, and give our customers another reason to feel good about sending money back home.”

Axis Bank president and head of transaction banking Himadri Chatterjee said: “We are confident that this expansion of network will make it even more convenient for our NRI customers to send money from USA and give them another reason to choose Axis Bank as their Banking partner of choice.”

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