IDFC FIRST Bank Enables UPI for NRIs in 12 Countries Using International Numbers
Mumbai: In a move to ease digital transactions for overseas Indians, IDFC FIRST Bank has enabled its NRI customers in 12 countries to make UPI payments using their international mobile numbers.
The feature, launched on Tuesday, allows real-time, INR-denominated payments directly from NRE or NRO accounts through the bank's mobile app or any UPI-enabled platform, without the need for an Indian SIM card or incurring transaction fees.
The facility is available to IDFC FIRST Bank customers residing in Australia, Canada, France, Hong Kong, Malaysia, Oman, Qatar, Saudi Arabia, Singapore, UAE, UK, and the US.
NRIs can send and receive money using UPI IDs, QR codes, or mobile numbers, making everyday financial transactions like bill payments and fund transfers quicker and more convenient.
'This service empowers our NRI customers to transact in India with the same ease as domestic users,' said Ashish Singh, head – retail liabilities at IDFC FIRST Bank. 'Our aim is to simplify banking, regardless of geography.'
This development comes after the National Payments Corporation of India (NPCI) issued a circular in Jan 2023 allowing UPI access for NRIs using international mobile numbers.
Member banks were mandated to implement the feature by Apr 30, 2023. Initially, the facility was permitted in 10 countries including the US, UK, Singapore, and UAE, later expanding to include others like France and Malaysia.
T
he accounts used must be KYC-compliant, and all transactions must follow RBI and FEMA regulations. Banks are also responsible for conducting anti-money laundering and compliance checks.
With this move, IDFC FIRST Bank joins other major banks like ICICI Bank, HDFC Bank, Axis Bank, and Federal Bank in rolling out UPI access for NRIs. The facility eliminates the need for NRIs to retain an Indian mobile number, significantly lowering the cost and complexity of managing finances from abroad.
This initiative is part of the bank's broader digital-first approach, which has helped it grow its customer base to 35.5 million. The bank's mobile app, which ranks among the top globally for customer experience, plays a key role in delivering secure, seamless digital banking services to users worldwide.
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