Customers can transfer money to India with this service free of cost till December.

Mashreq, a prominent financial institution in UAE, recently unveiled “Mashreq Flash Transfer”, a service which enables customers to instantly send money to a beneficiary in India. The new remittance service offers convenience to customers as they can transfer money at any time of the day using their smartphones. Customers simply need to know the phone number of the recipient in order to send cash instantly.

The recipient can withdraw cash at any of the 12,000+ Axis bank ATMs without even having an ATM card or a bank account. Additionally there is an option to forward funds instantly to a beneficiary having an Axis bank account in India. Mashreq has declared the service to be free for all customers till December 2015.

Head of Electronic Business Innovation at Mashreq, Aref Al Ramli stated that customers in the UAE are very tech savvy and carry out almost 90% of retail transactions through electronic channels. He said that Mashreq understands that at times customers need to urgently send money to their family and friends and this service meets the needs of customers. Aref Al Ramli reiterated that Mashreq is continuously working towards offering a unique customer experience.

Head of Personal Banking at Mashreq, Tooran Asif revealed that the flash transfer services to India are available round the clock which means customers can avail the service even when banks are closed during holidays. He said more initiatives are being planned in the future as Mashreq continues its tradition of innovation.