Axis Bank has entered into 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.
The arrangement marks the first bilateral retail remittance relationship with Bank in USA for Axis Bank thereby providing a further edge to the Bank’s NRI Proposition in the region. With this arrangement in place, Axis Bank’s NRI customers can send remittances to their accounts in India 24x7 through Wells Fargo's ‘ExpressSend Service’, after due enrollment in the service.
Axis Bank is India’s third-largest private sector bank. The Bank offers entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses. With its 3,106 domestic branches (including extension counters) and 13,448 ATMs across the country, as on September 30, 2016, the network of Axis Bank spreads across 1,920 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services.