National Bank of Abu Dhabi (NBAD) has expanded its mobile-based payment service, NBAD Arrow, to include real-time remittances to India.
The capital's biggest lender has teamed up with India's Federal Bank to allow customers to transfer their funds to any bank in India at a lower price with added security.
The bank says NBAD Arrow already lets users send money to more than 256,000 MoneyGram locations in 192 countries by two SMS messages.
However, the new feature enables NBAD and non-NBAD customers to pay Dh12 for their remittance to bank accounts in India.
Best of all, money transfer times are cut to just seconds compared with the two to three days with standard mobile-banking applications, it says.
"Indian nationals make up the largest expatriate group in the UAE and offering this service at such a low rate compared to the usual market price for their remittances adds a valuable saving to our customers," says Ahmed Al Naqbi, the head of direct banking and e-development at NBAD.
To use the new feature, customers have to register with the Arrow service, while NBAD online account holders can register by visiting https://arrow.nbad.com. Non-NBAD customers can link up with Arrow by obtaining a prepaid card at any NBAD branch and smartphone users can download NBAD's mobile app for free.
For more information, go to www.nbad.com.
There's only a few days left, but HSBC Visa cardholders still have a chance to win a trip to the London 2012 Olympic Games.
For every Dh500 spent on a Visa credit card issued by HSBC, cardholders will be entered into a draw for a chance to win one of five all-inclusive trips for two people to see the Games, which kick off on July 27 and end on August 12.
HSBC's competition, which ends on May 31, is also offering 25 customers a chance to win up to Dh5,000 of their total spend back, which will be credited to their HSBC Visa card.
The grand prize includes a four-night trip to London from July 25 to 29, two return economy class air tickets from either Dubai or Abu Dhabi international airports, hotel accommodation for four nights, two Visa Olympic Games-themed prepaid cards loaded with £200 (Dh1,156), opening ceremony tickets and tickets to pre-selected Olympic events.
Go to www.hsbc.ae for details.