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Federal Bank ties up with NBAD for money transfer through mobilephones

Pk Krishnakumar

Friday, May 25, 2012 - 09:40

Federal Bank has joined hands with National Bank of Abu Dhabi, the biggest bank in UAE, to launch a real-time international account-to-account money transfer service via mobilephones from anywhere in the world to any bank in India.

KOCHI: Federal Bank has joined hands with National Bank of Abu Dhabi, the biggest bank in UAE, to launch a real-time international account-to-accountmoney transfer service via mobilephones from anywhere in the world to any bank in India. 

The bank will make use of the arrow mobile service of NBAD powered by Luup mobile payment technology for the purpose. Under the scheme, Federal Bank beneficiaries get transferred funds instantaneously. 

Other bank customers get the money at the next hourly NEFT clearance. Launching the service, Shyam Srinivasan, managing director & CEO, Federal Bank said that with the new tie up with NBAD, families of Indian expatriates can receive money real time within seconds through Federal Bank.
Read the full story by clicking the link below
http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/federal- bank-....
 
Tags: Mobile Money Transfer, APAC, India, International Remittance, NBAD, Federal Bank

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