Srinagar: The J&K Bank has signed a Memorandum of Understanding (MOU) with Instant Global Money Transfer Company for online money transfer.
A statement from the Bank said that the said the MOU was signed by the Bank’s Strategy& IT Vice President, Sushil Kumar Gupta and the Company’s Head-Operations, Renjith T. Alex.
The agreement is an endeavor to provide fast, hassle free and easy money transfer from any part of the globe to India, it said.
Commenting upon the agreement, Sushil Kumar said, “The tie-up provides a faster and cheaper alternative of money transfer as compared to the traditional remittance modes.
In addition, easy access to the network offers a convenient, reliable and affordable way of sending money to the beneficiary’s account from any part of the world.”
The tie-up will help people working abroad to send money to their families and students overseas to repay loans taken for study purposes in India as well as tourists visiting various parts of the country.
Global Money Transfer Company is a Master Agent of Globe Foreign Exchange Inc. Canada, a group company and a fully owned subsidiary of Trans-Fast Worldwide Money Transfer.
Headquartered in New York, Trans-Fast is an international money transfer and cross-border payments company having offices in UAE and Philippines. The company is a provider of multi-currency, cross-border payments solutions for consumers and businesses around the world and has a presence in over 100 countries with 200,000 locations across the globe.