Axis Bank provides online money transfer facility from foreign geographies to India under the name AxisRemit Online. Remittance can be sent from 8 geographies viz. US, UK, Euro-Zone, Canada, Australia, Singapore, Hong Kong and UAE to India in the form of account credit or a DD in the name of the Indian beneficiary.
An individual willing to send money to India through an online channel may choose to register on AxisRemit Online by providing necessary personal details and choosing a unique user-id and password.
Once registered, customer may transfer money to any beneficiary account in India by any one of the following means:
*ACH Facility (online mode of transfer for USA customers) This is an efficient online fund transfer facility for US remitters where the remitter allows Axis Bank to pull funds from his local bank for the amount instructed.
*Online Transfer (for geographies other than USA) It is a completely online mode of fund transfer where the remitter books a transaction on Axis Remit and subsequently transfers funds through the net banking facility of his/her local bank.
*Smart Wire This is the usual Wire Transfer facility with additional advantage of online fund tracking. The remitter can book a remittance transaction online and instruct his local bank to transfer funds. This facility is available for all geographies mentioned earlier.
Using AxisRemit has unparalleled advantages over offline methods. A few of them are:
+Competitive Foreign Exchange Rates
+Online Money Transfer Facility from the convenience of the remitters home
+Tracking Status of Transfer at any time through transaction reference number
+Facility to send money to over 53,000 branches of nearly 100 banks in India
+Reliable & Prompt customer support through telephone and e-mail
+Global security standards adopted to ensure safety in online transfer
The remitter has to simply register on AxisRemit Online by providing basic details on the form and choosing a loginID and password. He can further immediately remit money by providing his/her beneficiary details in India and funding the transaction under any one of the transfer facility. Axis Bank will then take care of the rest for him.
In addition to the online mode of money transfer, Axis Bank also provides others means of inward remittance viz. through Wire Transfer, Foreign currency cheques and tie ups with various correspondent banks and exchange houses.