March 30, 2017 / 9:56 AM / 10 months ago

BRIEF-Axis Bank & Wells Fargo partner to offer remittance facility to US-based NRI customers

March 30 (Reuters) - Axis Bank Ltd:

* Axis Bank and Wells Fargo enter into bilateral arrangement to offer remittance facility to US-based NRI customers

* Co’s NRI customers can send remittances to their accounts in India 24x7 through Wells Fargo’s “Expresssend Service”, after enrolment in service Source text:

Axis Bank, India’s third largest private sector bank, has announced a strategic partnership with Wells Fargo & Company to offer seamless remittance facility to their NRI customers from The United States of America (USA). USA is one of the key corridors to receive remittances to India, which contributes to more than 30% of total remittance volume to India.

Beginning April 8, 2017 customers can send money directly to their beneficiary account at Axis Bank a $0 transfer fee.

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