21st June,Times of India: TimesofMoney, Indian Bank tie up for remittance solution

9th June, Chennai Bureau: IOB ties up with TimesofMoney

23rd May, Business Line: Union Bank launches Web-based remittance scheme for NRIs in US

• UNION Bank of India has launched `Union e-Remit,' a Web-based remittance scheme powered by `Times of Money,' for remittance of funds from the US to any location in India.
  The service, available on the bank's Web site, www.unionbankofindia.com, enables non-resident Indians in the US to send money directly out of their bank account in the US to any beneficiary in India within four days, said a press release. The money is either directly credited to the beneficiary's account or a demand draft is hand delivered at the given address in over 1,500 towns across the country. Apart from this, the customers can call a Toll-Free number managed by Times of Money, to track their transactions, the release said. Times of Money provides the technology, operations and customer service platform for the scheme while the Bank of New York provides the correspondent banking facilities. Union Bank is in the process of tying up for such Web-based services from other countries from where sizable remittances are received, the release said quoting Mr V. Leeladhar, the bank's Chairman and Managing Director. The global remittance business is a product will enhance the bank's fee-based income, said the release, quoting Mr K. Rathnakar Hegde, Executive Director.

26th Mar, Times of India: HDFC Bank launches Quickremit powered by TimesofMoney

• NEW DELHI: HDFC Bank, one of India's leading private sector banks, has launched Quickremit, a unique online service that enables NRIs in the US to send money to their relatives in India from the comfort of their home.
  The technology, operations and 24-hour customer service platform for Quickremit is powered by Timesofmoney.com, a subsidiary of Indiatimes.com.
  Quickremit, available on HDFC Bank's website, allows senders in the US to transfer money from any bank account in the US to an HDFC Bank account in India online, in just 3 working days. It offers end-to-end tracking of money, along with round-the-clock customer support.
  The sender needs to register for Quickremit, add details of his bank in the US, besides details of the receiver's account with HDFC Bank in India and place an online remittance order. The service was formally launched by Vineet Jain, managing director of the Times Group, and Aditya Puri, managing director of HDFC Bank. Speaking at the launch, Puri said: "The launch of this service will enable HDFC Bank customers to get money from the US much faster, through a more secure medium and at a much lower cost."
  In his comment, Jain said: "It is our constant endeavour to offer Internet based end-to-end solutions to banks across the globe. The launch of Quickremit further strengthens our long standing relationship with HDFC Bank."
  For more information on Quickremit, please log on to the NRI Services at www.hdfcbank.com.