Federal Bank partners with Mashreq Bank to offer money transfers from UAE to India

Federal Bank has partnered with Mashreq Bank, a UAE-based financial institution, to facilitate money transfers from the UAE to India.

The partnership will support Mashreq’s payment product, QuickRemit, which was launched in 2017. As a result of the partnership, Mashreq customers can enjoy savings as well as continue to send money to India from their home or office, from Mashreq’s online and mobile banking channels.

In 2020, Mashreq Bank partnered with NIUM, a cross-border digital payments company, to expand its existing QuickRemit service to more than 35 countries worldwide. The agreement made it one of the banks in the UAE to offer instant and same day credit facility to different places, including the UK, Singapore, Philippines, Australia, Canada, Sri Lanka, and majority of European countries.