ICICI Bank Unveils Phone-Based Remittance In Bahrain

The country''s second largest lender, ICICI Bank, on Oct 24, declared unveil of a cost-effective money transfer service for its customers in Bahrain. Under the offering, Call and Remit, a customer of ICICI Bank, Bahrain can transfer money to his/her family in India by calling up a toll free number, without visiting the branch. The service is being offered at a nominal cost of 500 fils (Bahraini currency). There is a one-time activity of registering the beneficiary and after this, the customer can transfer the money in two steps, call the bank on the toll free number 80001313 and specify the amount to be transferred. ICICI Bank has been offering remittance services to a large section of Indian expatriates residing in Bahrain through its offshore banking unit, which has now got a retail banking licence from the Central Bank of Bahrain.