Federal Bank Limited is an Indian private sector, scheduled commercial bank headquartered in Aluva, Kochi. The bank also has representative offices abroad in Abu Dhabi and Dubai. With a customer base of over 10 million, including 1.5 million NRI customers and a large network of remittance partners across the world, Federal Bank handled more than 15% of India's total inward remittances of $79 billion in 2018. They have a total of 1,263 branches.
Sending money to Federal Bank accounts in India is easy with Remitbee. It just takes six easy steps.
There are many benefits to sending directly to Federal Bank with Remitbee. Here’s a quick overview:
Here is the information that you’ll need to complete the transfer through Remitbee. There are two separate delivery methods that have different requirements:
Wire transfer to bank account
We try to keep our fees as low as possible and assess rates daily to bring you the most competitive Indian Rupee exchange rates on the market. There are small fees when you choose to use bill, Interact or debit card payment methods, but you can also use the Remitbee Wallet without paying fees at any time. We are upfront about any fees, and you can see them in the application before you send money to India.
There are many different banks in India, just like there are in Canada and every other country around the world. When you use Remitbee, we send your money directly from your account with us to the bank account in India without passing it through other middlemen.
Here are a few of the other branches you can use to send money from Canada to India with our service:
International wire transfers take place using the SWIFT network. Transfer instructions are sent from the sender’s bank to the recipient’s bank and any fees are assessed before the transfer is approved. One of the banks will calculate the exchange rate CAD to INR, and the money is moved between accounts.
Yes, you can.
You can choose to pay using Interac e-Transfer, Interac Online, Bill payment, Electronic Funds Transfer or Visa or Mastercard Debit.
The transfers typically take between 1 and 2 days, but some transfers happen instantly.
If you verify your identity on our platform, you can send up to 9,000 CAD per day, with a maximum of 50,000 CAD per month.
Any transfer over 500 CAD is free. Transfers below 500 CAD are subject to the following fees:
The maximum amount of money you can send in INR is dependent on your account’s verification level.
We are also working on Verification Level 4 to provide our customers with even higher sending limits.
Remember, verification is a one-time process. Once you have been verified, there is no need to provide any other documents.
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