IDFC FIRST Bank has introduced RemitFIRST2India, a zero-fee digital remittance platform for NRIs, providing live tracking, competitive forex rates, and seamless transfers from Singapore and Hong Kong.
Partnership with SingX for Seamless Transfers
- Fully compliant with international financial regulations.
- Currently supports money transfers from Singapore and Hong Kong.
- Plans to expand to other countries soon.
- Features live transaction tracking for real-time updates.
Key Features of RemitFIRST2India
- Zero Transfer Fees – No processing or platform charges.
- Competitive, Guaranteed Forex Rates – Transparent pricing with no hidden markups.
- Seamless Digital Transfers – Fully paperless, fast transfers to any bank account in India.
- Welcome Benefits – Extra forex margin on the first three transfers for new users.
User-Friendly Access
- Existing NRI customers can use the IDFC FIRST Bank Mobile Banking App with no additional registration.
- New customers can complete a one-step paperless onboarding via a dedicated web portal.
About IDFC FIRST Bank
- Customer Base: 35.5 million live customers.
- Deposit Base: ₹2,56,799 crore.
- Loans & Advances: ₹2,53,233 crore.
- Branch Network: 1,016 branches across 60,000+ cities, towns, and villages in India.
The Bank’s Digital Excellence
- Mobile App Ratings: 4.9 on Google Play Store, 4.8 on App Store.
- Rated #1 in India and #4 globally by Forrester Digital Experience Review™ (Q4 2024).
- Technology built on cloud-native, microservices architecture, powered by AI and advanced analytics.
Commitment to Ethical and Social Good Banking
- Ethical Banking: Transparent products, zero hidden charges, “ZERO FEE Banking” on all savings account services.
- Customer-Friendly Practices: Monthly interest credit on savings accounts, lifetime free credit cards, non-expiring rewards.
- Social Good Banking: 38 million customers financed, including 4.3 million women entrepreneurs, sanitation loans, vehicle loans, and SME loans.
- ESG Commitment: High ESG scores, focus on financial inclusion and responsible growth.
Why RemitFIRST2India Matters
- Making cross-border transfers cost-free and transparent.
- Providing NRIs a secure, digital-first platform with real-time tracking.
- Encouraging investment inflows into India alongside personal remittances.
- Supporting India’s image as a global financial hub for its diaspora.
Key Takeaways for Competitive Exams
- IDFC FIRST Bank introduces RemitFIRST2India, a zero-fee digital remittance platform for NRIs.
- The platform offers competitive forex rates, live tracking, and seamless transfers from Singapore and Hong Kong.
- Users can enjoy zero transfer fees, transparent pricing, and extra benefits on initial transfers.
- The bank’s commitment to ethical banking and digital excellence sets it apart in the industry.
