UAE Exchange said that Fed Flash enables Federal Bank customers to remit money real-time into to their accounts through any of the UAE Exchange branches overseas, to all branches of Federal Bank across India.
The remittance services will be carried out in a fully automated environment. The moment the Fed Flash remittance service is initiated the remitter and the beneficiary in India will receive an SMS confirming the transaction.
UAE Exchange vice president global operations Pramod Manghat said Fed Flash is the latest of the products the technology has to offer to the remitters who want to send money to Federal Bank accounts in India, who can rest assured that the beneficiary account is credited immediately when he does a transaction in a UAE Exchange branch anywhere.
