Xoom Announces Instant Deposit Service to HDFC Bank Accounts in India
31 Marzo 2014 - 9:05AM
Xoom Corporation (Nasdaq:XOOM), a leading digital money transfer
provider, today announced a partnership with HDFC Bank Limited
(NYSE:HDB), by offering instant deposits to INR denominated HDFC
Bank accounts in India. This breakthrough service allows Xoom
customers to instantly deposit money directly into their
recipients' HDFC Bank accounts in India. The instant service is
available 24 hours a day, seven days a week, 365 days a year--even
on banking holidays.
"Unlike other transfer services to India which typically take
five days or more, Xoom is relentlessly working towards providing
'instant' for all of our services, and we are excited to launch
instant deposits to HDFC Bank," said Julian King, Senior Vice
President of Marketing and Corporate Development for Xoom. "This is
great news for people who send money to HDFC Bank accounts. Now
NRIs can send money anytime, anywhere from their computer, mobile
phone or tablet and their bank deposits reach their recipients'
HDFC Bank account instantly."
"At HDFC Bank, we are consistently looking at new ways in which
we can make a difference in the lives of our customers. Through
this tie-up with Xoom we will be able to provide this breakthrough
service of instant deposits," says Mr. Rajender Sehgal, Group Head,
Financial Institutions Group, HDFC Bank. "We look forward to
bringing a whole new world of convenience and flexibility to our
account holders, allowing them to receive money from the US in a
secure manner, at any time of the day or night.
Xoom provides great locked-in exchange rates for money transfers
to India, and there is no fee when customers send more than $1,000
and pay with their U.S.-based bank account. Plus, Xoom
continues to provide fast bank deposits within four hours to all
other banks in India, including to NRE and NRO accounts, when sent
during bank processing hours in India. Customers can also
download the Xoom App for Android and iOS mobile devices for free.
Visit https://www.xoom.com/india for more information.
About Xoom
Xoom is a leading digital money transfer provider in 31
countries, focused on helping consumers send money in a secure,
fast and cost-effective way using their mobile phone, tablet or
computer. During the year ended December 31, 2013, Xoom's more than
one million active customers sent more than $5.5 billion to family
and friends. The company is headquartered in San Francisco and can
be found online at www.xoom.com.
About
HDFC
Promoted in 1995 by Housing Development Finance Corporation
(HDFC), India's leading housing finance company, HDFC Bank is one
of India's premier banks providing a wide range of financial
products and services to its 28.5 million customers across hundreds
of Indian cities using multiple distribution channels including a
pan-India network of branches, ATMs, phone banking, net banking and
mobile banking. Within a relatively short span of time, the Bank
has emerged as a leading player in retail banking, wholesale
banking, and treasury operations, its three principal business
segments.
The Bank's competitive strength clearly lies in the use of
technology and the ability to deliver world-class service with
rapid response time. Over the last 19 years, the Bank has
successfully gained market share in its target customer franchises
while maintaining healthy profitability and asset quality.
As of December 31, 2013, the Bank had a distribution network
with 3,336 branches and 11,473 ATMs in 2,104 cities/towns.
For the quarter ended December 31, 2013, the Bank's total income
was INR 127.39 billion (`12,739.0 crore) as against INR 108.18
billion (`10,818.1 crore) for the quarter ended December 31, 2012.
Net revenues (net interest income plus other income) were INR 67.83
billion (`6,783.1 crore) for the quarter ended December 31, 2013,
as against INR 59.09 billion (`5,909.4 crore) for the corresponding
quarter of the previous year. Net Profit for the quarter ended
December 31, 2013, was INR 23.25 billion (`2,235.7 crore), up by
25.1% over the corresponding quarter ended December 31, 2012.
Total income for the year ended March 31, 2013, was INR 419.175
billion (`41,917.5 crore).
Leading Indian and international publications have recognised
the Bank for its performance and quality.
For more information please log on to: www.hdfcbank.com
XOOM-G
Media Contact: |
Robin Carr, Xoom |
415-395-4363 |
robin.carr@xoom.com |
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