Xpress Money launches direct account credit services to India

The brand has introduced the ‘Direct Account Credit’ service, which allows customers to send money directly to any bank account in India, making money transfer even more convenient for both the sender and receiver.

Introduced from UK, Greece, Belgium, Ireland, Romania, Cyprus, Italy, Spain, Denmark, Sweden, France, Malta, Turkey, Germany, Netherlands, Gibraltar and Norway in the initial phase, the brand has plans to roll out this service in other markets that have a large Indian diaspora.

To avail of this service, a customer can walk into any Xpress Money location in the mentioned countries and ask for the money to be sent to their beneficiary’s account through the ‘Direct Account Credit’ service.

Once the transaction has been processed, the amount will be credited to their beneficiary’s account within 24 to 48 hours.

The remitter also will receive an SMS confirmation, as soon as the money is credited to the selected account, ensuring a hassle-free transaction.

Beneficiaries can choose to withdraw the remitted money from close to 150,000 ATMs in India, or from their designated bank branches in the country.

Sudhesh Giriyan, COO, Xpress Money, says, “Indian migrants, the world over, regularly send money to their loved ones back home, making India the largest recipient of remittances in the world. India also has a robust and extensive banking network that facilitates the remittance receiving process. Thousands of Indian migrants living in these countries, remit money regularly; it is therefore imperative that we offer our customers different options to choose from, while remitting money to their loved ones, here in India. The Direct Account Credit service is not only convenient but also encourages saving, as beneficiaries here can withdraw only the required amount while the rest can be saved in the account. As a brand, we aim to provide hassle-free and efficient money transfer facilities to all our customers across the world.”