South Indian Bank ties up with TimesofMoney for online remittances

This tie up would enable all NRIs across 22 countries, to remit funds online to any bank in India under the NEFT/RTGS network.

Online PR News – 23-July-2011 – – Mumbai, 19th July, 2011: South Indian Bank has signed a service agreement with TimesofMoney, India's leading e-payments service provider to offer remittance solutions to NRIs in selected countries. This tie up would enable all NRIs across 22 countries, to remit funds online to any bank in India under the NEFT/RTGS network. This service provided by TimesofMoney would ensure all NRIs to get a robust transaction platform along with better pricing, safety and speedy money transfer.

Speaking on this partnership, Dr. V.A. Joseph MD & CEO, South Indian Bank said, “We have partnered with TimesofMoney to provide NRIs a secure, efficient and cost effective way to send money to their beloved ones back home. With TimesofMoney’s expertise and understanding of the remittance market we hope to provide an unmatched experience to our NRI customers”.

Commenting on the tie up, Mr. Avijit Nanda, President, TimesofMoney said, “We are delighted to partner with South Indian Bank which is one of the prominent banks in South India. As per World Bank report 2010 with 11.3 million emigrants, India ranks as the top remittance receiver in the world estimated at US$ 55 billion p.a. Remittance through the online channel is increasing at an incredible pace. We ensure that we provide a superior user experience to NRIs by helping them send money in a safe and simple manner. South Indian Bank, with its NRI focus combined with our proven expertise in managing online remittances would ensure that the customer gets an excellent platform to send money home to his family.”

NRIs can visit South Indian Bank’s website and click ‘NRI Banking’ to get the link to ‘online money transfer’. This service provides a safe and convenient money transfer experience. However, there is a minimum and maximum limit for money transfers.

Photo Caption:
Mr.Avijit Nanda President 'Timesofmoney' exchanging the MoU with Dr.V.A Joseph MD & CEO South Indian Bank.

Seen in the picture from left to right:
Mr.Vikas R.Panditrao & Mr.Bishwaroop Ghosh of 'Timesofmoney',Sri. Abraham Thariyan,Executive Director SIB,Sri.Roy Alex ,DGM-Planning & Development SIB, Sri.Jose Varghese.P. Cheif Manager IBD,SIB.

About South Indian Bank:

South Indian Bank Limited is a private sector bank headquartered at Thrissur in Kerala, India. South Indian Bank has 643 branches and 3 extension counters spread across more than 26 states and union territories in India. It has set up 544 ATMs all over India. In the current year 2011-12, the bank is planning to add 57 more branches throughout India, which aims in having presence in all the states of India.

About TimesofMoney:
TimesofMoney is India’s leading digital payment service provider and serves a varied client base. Spanning Indian and international clients, its offerings include specialized NRI services, India Money Transfers, Global Money Transfers, e-Payments and co-branded cards. Conceptualized and built to serve diverse communities, TimesofMoney’s services offer convenience, connectivity and flexibility across a global platform. The conglomerate continually strives to deliver the best to its clients, ensuring flexible service and meeting global standards. Visit for more details.

For more information please contact:
Bhavin Shah | TimesofMoney | (Desk) + 91-22-3098 8490 |
Murtaza Sadri | Good Relations India (Mob) + 91-9892235252 |
Jose Varghese|South Indian Bank (CM)IBD|+ 91 - 9446515499|