Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, on Monday announced that it has expanded its flagship cross border payment product DirectRemit significantly.
This enhancement brings the Bank’s near real-time, cost-effective money transfer service to over 40 countries, allowing customers to send funds faster and with unprecedented savings. The expansion also means Emirates NBD customers can now send money to more than 40 countries across Europe, Australia, Singapore and Hong Kong.
The benefits of DirectRemit includes real time money transfers without delays or uncertainty; ability to send money anytime, anywhere through the ENBD X Mobile Banking App or Online Banking; trusted round-the-clock reliability backed by secure global infrastructure; and competitive exchange rates.
Since its introduction in 2014, DirectRemit has revolutionised how Emirates NBD customers send money home.
In 2016, the flagship product began supporting transfers to India, Pakistan, Philippines, Sri Lanka, UK and Egypt. This initiative now serves the needs of more than 80% of the expat population supporting family with monthly expenses, education, managing mortgages or investing in cross-border opportunities.
Leading Middle East
Yousuf Saeed Mohd, Group Head of Personal and Priority Banking and Retail Banking Sales at Emirates NBD, said that as a front-runner in digital banking innovation, Emirates NBD is committed to delivering banking experiences that offer greater financial flexibility and convenience.
Emirates NBD was pleased to expand this service to more than 40 countries worldwide, reinforcing the bank’s position as a leader in cross-border banking in the Middle East,” he said.
He added: “Our customers come from all corners of the world and their need to send money home quickly, safely and affordably is inherently personal. By launching these new, near real-time remittance corridors, we are not just improving a service; we are strengthening vital connections between people and their loved ones across continents.”
Customers can begin using the new corridors immediately through the Emirates NBD Mobile Banking App ENBD X and Online Banking channels.
The UAE currently ranks as the second-largest hub for outbound remittances globally, just behind the US. The new corridors are powered by the bank’s robust digital ecosystem along with the strategic partnership with Nium, a leading FinTech in cross border payments – all underpinned by the highest levels of compliance, security and regulatory standards.
Family support is the standard purpose of payment for outbound remittances, especially among low-income earners who live in the UAE and send money monthly to their families back home.
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