Yes Bank, Transfast launch instant bank deposits for money transfers to India
The technology is offered by Yes Bank and running on the National Payments Corporation of India (NPCI) core platform.
This service facilitates real-time deposits of funds to all banks currently connected to the NPCI platform for inward remittances and is available 24 hours a day/7 days a week/365 days a year, setting a new standard money transfer services.
Arun Agarwal, Group President, International Banking Division& Multinational Corporations Relationship, Yes Bank stated: “Yes Bank is proud to partner with Transfast in introducing this innovative technology to transfer money from the USA and Canada to India at lightning speed. This service will provide great convenience to our customers in North America and provide an instant credit confirmation to them for deposits into their recipients’ accounts. This initiative reinforces Yes Bank’s commitment to provide a superior banking experience for our customers”
Samish Kumar, CEO of Transfast stated, “We, together with our partner Yes Bank, are the first money transfer company in the world live with instant bank deposits via NPCI. With our continued investment in technology, Transfast once again delivers greater value, convenience, and service that customers can truly feel great about.”
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