Private sector lender ICICI Bank has become India’s first bank to partner with ‘Westpac Banking Corporation’ (Westpac), one of the top banks in Australia.
Westpac offer Indian students a complete e-payment solutions via its ‘Money2World’ (M2W) platform for outward remittances.
With the help of this service, Indian students who have accounts in any other bank can initiate online remittance for paying fees to Australian university at affordable fixed exchange rate from any place at any point of time.
ICICI Bank and Westpac has jointly partnered with La Trobe University, one of the well-known universities in Australia, for this initiative.
The bank is also aiming to join hands with other Australian universities and colleges as well.
The transactions performed by the students using the Money2World platform will be integrated with Westpac’s ‘PaymentsPlus’, a banking and complete solution for universities and colleges.
This exclusive facility will significantly enhance convenience for students as it allows the students to make hassle free online payments, eliminating the need to make multiple visits to the bank branch.
It also curtails the fee payment process to a few days, without any additional charges.