In order to ensure maximum use of the new service, NRIs can send money into an account with Yes Bank or any other bank account in India, the bank said in a statement.
Additional features of the service include online tracking of remittances, round-the-clock customer service assistance and free e-gift vouchers on remitting money.
Yes Bank retail and business banking senior group president Pralay Mondal said the new online remittance service will enable NRIs to send money to India at a superior exchange rate and nil transaction charges.
The remit platform, which has been created in collaboration with TimesofMoney, will be gradually extended across geographies and currencies, in a phased manner.
Established in 2004, the bank manages a network of more than 380 branches across 275 cities, with over 650 ATMs and two national operating centers in Mumbai and Gurgaon, India.
