A large number of people in India, particularly the migrant population, doesn’t have access to formal banking channels for want of proof of identity/address etc. This lead to innumerable hardships faced by them while attempting to remit money back to their family members. This is happening even when various channels for Domestic Money Transfers (DMT) are available viz. IMPS, UPI, NEFT, RTGS etc.

Ikeda has already made Money Transfer products like IMPS, assisted UPI, NEFT, RTGS available for IPPB customers and interoperable AePS for non-customers. The newly introduced Domestic Money Transfer to facilitate fund transfer (cash to account) facility to walk-in customers (not holding an account with IPPB) will enable millions of unbanked migrant population to meet their family’s financial need by remitting fund to their loved ones on regular basis or during any such special need.

This product design brings seamless remittance experience to the customers backed by technology interface through Postman/ GDS/ Access Points Counters and simultaneously ensures hassle-free & affordable fund transfer service for the migrant population. This cash to Bank A/c remittance service is offered across more than 1.36+ lakhs Access Points (Post Offices) across India.

Key Features

• Send money instantly
• Available 24x7x365
• Fund transfer can be done on Sundays and bank holidays
• Instant confirmation to sender via SMS
• Safe and secure transaction
• This service is available across all the bank branches

Key Benefits

• Cost effective
• Safe and secure transaction
• Fund transfer to all the PSUs and Private Banks
• Free SMS alerts on every transaction
• Near doorstep remittance facility