Money transfer to India has become more convenient and efficient
EzRemit card in India, the first-of-its-kind remittance card for receiving money from overseas through EzRemit. EzRemit, is available in over 50 countries with more than 44,000 locations including BFC Group’s retail branch networks in Bahrain and Kuwait and an extensive agent presence in Oman, Qatar and the UAE. Customers in these countries can now send remittances directly to their beneficiaries onto the EzRemit Card, which is accepted in ATMs and retail outlets across India, providing an easier and more convenient way for customers to make money transfers directly to their families in India.
EzRemit has partnered with Axis Bank, one of the leading retail and corporate banks in India, boasting a network of over 10,000 ATMs to provide this convenient service. Through this new card, EzRemit customers can make their transfers directly onto their beneficiaries EzRemit Card using the receiver’s unique card number. The beneficiary will then receive an SMS confirming the delivery of the funds and can begin making use of the money transferred at any Axis Bank ATM location with no additional charges. All the beneficiaries need to do is register at a BFC Forex location in India to complete a one time registration process.
The EzRemit Card is an exclusive offer at BFC Group’s newly inaugurated retail network Indian retail network, BFC Forex. The launch of the card is part of BFC Forex’s efforts to augment its international remittance services and facilitate safe, simple and efficient money transfers via EzRemit’s growing global network, and follows closely on the heels of the recent opening of the BFC Forex headquarters in Mumbai, as well as the opening of six other branches in Tirur, Ernakulam – Cochin, Vadakara, Calicut, Tellicherry and Kannur. In addition, BFC Forex will also market its products in the Punjab region.
Commenting on the launch of the EzRemit Card, Executive Director and Country Head of BFC Forex, Mr. Bhaskar Rao said, “One of our main objectives is to simplify the process of sending and receiving money for our customers. The new EzRemit Card does just that, allowing senders to credit their loved ones’ card account directly, thereby providing a running account for the receiver to be able to use as desired. Each card is linked to a single customer, ensuring the privacy and security of all transactions, and removing the need to visit a branch or agent directly to receive their money placing BFC at the forefront of the remittance business.”
Prashanth Veermangala, EzRemit Head of Business Development said, “The launch of this service places EzRemit at the forefront of the remittance business providing services which relate back to our core values – trust, care, efficiency and innovation. Our aim is to provide our Indian customers with a more convenient and easy way to send money to their families back home, in addition to simplifying our customer’s access to our growing network in India.”
BFC Forex is licensed as a Fully Fledged Money Changer (FFMC) granted by RBI. It is the sole principal agent of EzRemit for their cash remittance product as licensed by RBI. With the license under the Money Transfer Service Scheme (MTSS), BFC Forex is able to serve customers by cash payments across its own counters and also through a sub agent network of more than 15,000 locations in India.
