The direct-to-bank service facilitates money transfers to bank accounts in India, through the NEFT as well as IMPS clearing systems.
Western Union is the first global money-transfer company to offer direct-to-bank services from retail agent locations and online through its website- www.westernunion.com, in over 16 countries.
Customers can use their debit or credit cards to transfer money through www.westernunion.com.
Western Union’s President and CEO Hikmet Ersek said, “The direct-to-bank service has been very successful globally and extremely well received by the Indian diaspora. I am confident that services like the Western Union international direct-to-bank offering will encourage greater use of banking accounts and boost the government’s progressive efforts like the Jan DhanYojana.”
Rana Kapoor, Managing Director and CEO of Yes Bank said, “Western Union’s international direct-to-bank services which will be backed by YES BANK’s state-of-the-art security protocols, is a great example in banking payments technologies that enables a convenient cashless option for families and individuals who depend on remittance money.”