Axis Bank has tied up with Malayan Banking Berhad (Maybank)

By | August 5, 2011
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A recent press report said that Axis Bank, India’s third largest private Bank, has tied up with Malayan Banking Berhad (Maybank), Malaysia, for remitting money from Malaysia to beneficiary accounts in India. The bank has signed an agreement with Maybank for offering remittance facility to India, under Maybank Money Express (MME) service.

According to reports the service will facilitate straight through remittance facility for sending money to the intended beneficiaries, holding an account with Axis Bank or any of the 78000 NEFT enabled branches of over 100 other banks in India.

Mr.P. Mukherjee, President and Head – Treasury & International Banking at Axis Bank said that the main purpose of the tie up was to offer immediate remittances to help Indians living in Malaysia remit money to beneficiaries in India in a quick, seamless and economical manner.

Reports said that the bank already offers inward remittance facility to India through tie-up with various banks, exchange houses, money transfer operators as well as through wire transfer and its online money transfer platform, ‘AxisRemit Online’.  The bank is also renowned for its loan schemes such as Axis home loans, Axis Personal loan, Axis car loan etc.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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