(MENAFN - Khaleej Times) Xpress Money, the preferred partner for money transfers in the GCC, on Monday announced it has introduced a flat fee of Dh15 for remittances of any denominations to India.
The revised fee comes on the heels of the company's decision to discontinue its earlier slab system of differential pricing based on the amount being transferred to India. By combining effective management of the exchange rates with an affordable transfer fee of Dh15, Xpress Money is confident of offering the best rates to its customers.
Sudhesh Giriyan, head, Xpress Money Business, said: "One of the fastest-growing economies in the world, India is also the largest 'receive' market in the remittance industry having received upwards of 58 billion in 2011. Similarly, UAE is one of the largest 'send' markets in the world, having a sizeable Indian population with a clear need to send money back home. As a brand, Xpress Money wants to provide the best value to its Indian customers, whether they are the ones sending the money or receiving it; introduction of a flat fee for all transactions to India is an endeavour to further strengthen our presence in these regions and offer our customers a unique advantage in terms of affordability. We continuously work towards building greater convenience for our customers in addition to introducing new services to offer better value for their growing needs."
Xpress Money has built a country-wide network in India comprising more than 35,000 agent locations.