This facility is provided to NRIs across the Globe to remit funds to beneficiaries in India up to USD 2500.00. Thirty remittances per calendar year per beneficiary is permitted. Beneficiary need not maintain an account with Corporation Bank. Payment will be made to the beneficiary in CASH upto Rs. 50,000/-. And for the REMITTANCES > Rs.50000.00 the amount will be credited directly to the account of the customers of our bank and the remittances for other bank customers will be credited to their accounts via RTGS/NEFTTo avail the service all you need to do is
- Walk-in to any of the below mentioned Exchange House/service provider outlets across the globe with whom our Bank is having tie up arrangements for funds remittance and deposit local currency equivalent of Indian Rupees to be transferred to the beneficiary in India along with details of beneficiary and full details of the remitter.
- Exchange House on accepting the deposit, issues a Personal Identification Number(PIN) to the NRI.
- Remitter conveys PIN and other details of remittance to the beneficiary over phone or otherwise.
- Beneficiary in India, approaches his nearest branch of Corporation Bank and provides the PIN and other details of remittance.
- On confirming the PIN, other details and identity of the beneficiary, Corporation Bank effects payment in CASH to the beneficiary.
Service provider/Exchange Houses with whom our bank is tied up with:Wall Street ExchangeUAE ExchangeMoney Gram International