 State Bank of Hyderabad (SBH) in a tie-up with UAE Exchange & Financial Services will soon launch 'MoneyGram', a popular foreign inward money remittance product. With this facility, it will take just 10 minutes to receive up to $2,500 from near and dear ones or friends living abroad, that too in cash. One doesn't need to have a bank account, but should possess a valid ID card.
Within a year, as per the RBI permit, one can receive a maximum of 12 transactions with $2,500 as the limit each time. The remittance should be for personal use only.
To start with, about 250 branches of the SBH in Andhra Pradesh and in Karnataka and Maharashtra will offer the service.
UAE Exchange is the Super Agent for MoneyGram in India and will facilitate the transactions with agreements with Indian banks. It has 206 branches and a wide network.
MoneyGram International, a global payment services company based out of Minneapolis, US, offers person-to-person money transfer service that allows costumers to send or receive money around the world in minutes.
Agent's office in Hyderabad
UAE Exchange & Financial Services
MCH No. 5-9-58, 4th Floor,
Gupta Estate
Basheerbagh Circle,
Hyderabad - 500 004
Tel No.: 040 - 23230409/10/11
Fax: 040 - 23230412
E-mail ID1: hyd2_hydllc@sancharnet.in
E-mail ID2: hydllc@eth.net
Mobile No.: 98495 - 83085
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