HSBC facilitates transactions between the UAE and India
By HSBC today launched its | 11 Oct 2006
HSBC today launched its OneWorld account package, as a joint banking proposition by HSBC Bank Middle East, UAE and HSBC India. According to the bank, the new account offers:
- Opening accounts in India whilst being in the UAE, as well as in the UAE from India
- Assistance in choosing from a wide range of India-based as well as global investment products, through its wealth management services
- FastCheque and FastClick free money transfers at competitive exchange rates between customer accounts in the UAE and India enabling customers banking with both HSBC Bank Middle East and HSBC India to transfer money in dirhams from their accounts in the UAE to their NRI accounts at HSBC India.
The money can be transferred between accounts in the two banks through cheques and internet banking - In a first-of-its kind facility, customers will be able to remit money to their NRE accounts in India directly through any of the 64 HSBC ATMs in the UAE
Announcing the launch of the new service, Naina Lal Kidwai, group general manager and Country Head, HSBC India, said, "Today, there are 22 million non-resident Indians around the world who expect global banking expertise and a high level of service. As the
world's local bank, HSBC serves 100,000 NRI customers through 13 international NRI centres in cities located in the Middle East, the UK, Hong Kong and New York, and our network of 46 branches in 25 cities in India."
Former CEO-India, Niall S K Booker, who is now deputy chairman and CEO, HSBC Bank Middle East Limited, said, "To extend the reach of our services, a dedicated NRI banking centre will be inaugurated today at the Business Centre on Khalid Bin Waleed Street (Bank Street) in Dubai. The centre will provide personal financial services including remittances to India as well as NRI accounts and mortgages, establishing bank accounts in India and providing rupee-based mortgages for property in India."
Alongside the NRI banking centre, HSBC has opened its seventh customer service centre in the UAE, which would also remain functional on Friday, the weekly holiday in most Arab countries from from 2:00 to 10:00 pm and from 8:00 am to 10:00 pm for the rest of the week.
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