IDFC FIRST Bank Launches Zero-Fee Cross-Border Remittance Platform for NRIs

IDFC FIRST Bank has launched RemitFIRST2India, a new digital platform for seamless, secure, and zero-fee money transfers to India for NRIs. The platform combines cutting-edge technology with customer-first features, offering real-time tracking, transparent forex rates, and zero transfer fees. It's integrated into the IDFC FIRST Bank Mobile Banking App and offers a paperless onboarding experience for non-customers.

IDFC FIRST Bank has introduced RemitFIRST2India, a cutting-edge digital platform designed to facilitate seamless, secure, and zero-fee money transfers from Non-Resident Indians (NRIs) to India. The platform, launched in partnership with SingX, a leading remittance provider licensed by the Monetary Authority of Singapore, aims to redefine cross-border remittances [1].

RemitFIRST2India stands out for its customer-centric features, including real-time tracking, transparent forex rates, and zero transfer fees. The platform is integrated into the IDFC FIRST Bank Mobile Banking App, allowing existing NRI customers to make transfers without additional registration. For non-IDFC FIRST Bank NRIs, a dedicated web portal offers a paperless onboarding experience with a one-step profile creation process [2].

Key highlights of the platform include:
- Zero Transfer Fees: No processing or platform charges on remittances.
- Competitive, Guaranteed Forex Rates: Transparent and without hidden markups.
- Digital, Paperless Experience: Quick transfers to any Indian bank account.
- Welcome Benefits: Extra forex margin on the first three transfers for new users.

Ashish Singh, Head Retail Liabilities at IDFC FIRST Bank, commented, "RemitFIRST2India is more than a remittance solution—it reflects our vision of putting the customer first. We’ve built it to be intuitive, transparent, and truly global. Whether you're an existing or new customer, you can now send money home in just a few clicks—securely, affordably, and with peace of mind" [3].

The platform is currently supporting transfers from Singapore and Hong Kong, with plans to expand to other countries. It offers live transaction tracking, ensuring customers are kept updated at every step of the process.

Atul Garg, CEO of SingX, noted, "The world’s eyes are on India, and NRI flows are expected to double in the next five years. While family support remains a core reason for remittance, we now see growing interest in Indian debt and equity markets. RemitFIRST2India is built for this future" [1].

IDFC FIRST Bank, known for its focus on digital innovation and customer-first approach, has positioned itself as a leader in providing secure, efficient, and affordable banking solutions to the global Indian diaspora.

References:
[1] https://www.business-standard.com/finance/personal-finance/remit-money-home-free-in-minutes-new-platform-from-idfc-first-for-nris-125080700080_1.html
[2] https://www.analyticsinsight.net/press-release/idfc-first-bank-launches-remitfirst2india-a-new-age-digital-platform-for-seamless-and-secure-money-transfers-to-india
[3] https://www.business-standard.com/content/press-releases-ani/idfc-first-bank-launches-remitfirst2india-a-new-age-digital-platform-for-seamless-and-secure-money-transfers-to-india-125080501283_1.html