Latest news with #FIRSTBank

Business Standard

Remit money home free, in minutes: New platform from IDFC FIRST for NRIs

In a move aimed at redefining cross-border remittances, IDFC FIRST Bank on Wednesday launched RemitFIRST2India, a new-age, fully digital platform designed to empower Non-Resident Indians (NRIs) with seamless, secure, and zero-fee money transfers to India. Developed in partnership with SingX, a Singapore-based licensed remittance provider, RemitFIRST2India combines cutting-edge technology with customer-first features—bringing real-time tracking, transparent forex rates, and zero transfer fees under one sleek platform, the bank said in a statement. Key Highlights: Zero Transfer Fees – No processing or platform charges on remittances. Competitive, Guaranteed Forex Rates – Transparent and without hidden markups. Digital, Paperless Experience – Quick transfers to any Indian bank account. Welcome Benefits – First three transfers come with extra forex margin for new users. The platform is integrated into the IDFC FIRST Bank Mobile Banking App, allowing existing NRI customers to make transfers without additional registration. For non-IDFC FIRST Bank NRIs, a dedicated web portal offers a completely paperless onboarding experience. With a one-step profile creation, users can initiate transfers instantly. Speaking about the platform, Ashish Singh, Head Retail Liabilities, IDFC FIRST Bank, said: 'RemitFIRST2India is more than a remittance solution — it reflects our vision of putting the customer first. We've built it to be intuitive, transparent, and truly global. Whether you're an existing or new customer, you can now send money home in just a few clicks—securely, affordably, and with peace of mind.' With the Indian economy emerging as a global investment hotspot, remittance behavior is also evolving. According to Atul Garg, CEO, SingX: 'The world's eyes are on India, and NRI flows are expected to double in the next five years. While family support remains a core reason for remittance, we now see growing interest in Indian debt and equity markets. RemitFIRST2India is built for this future. Why It Matters for NRIs Saves Money: No more hefty transfer fees or inflated forex rates. Saves Time: Instant setup and fast processing without paperwork. Builds Trust: Licensed partners, compliant operations, and real-time updates on every transaction. As more NRIs look to support families, invest in Indian assets, or simply manage funds across borders, platforms like RemitFIRST2India make global banking not just easier—but smarter.