Thursday 9 November 2017

Are you aware of the quickremit facility?

Quickremit is an online money transfer service available from many banks. This service offers the best exchange rates in town without compromising on the security and agility of the service. Global correspondent branches of various banks ensure cost efficiency, lower turn-around time and convenience.

The features and benefits of quickremit includes superior exchange rates, direct credit to the  beneficiary's bank account in rupees, direct credit from the beneficiary's account to other banks, doorstep delivery of Rupee Demand Draft at different locations across India, tracking of the transfer status through online trackers and via e-mails, maintenance of address book of all beneficiaries, sending personalised message with the remittances, round-the-clock customer service assistance, make online donations to a host of charitable trusts and organisations.

Registration procedure includes several steps and they are selection of an individual Checking Account or Savings Account with a US bank affiliated to the Automated Clearing House (ACH) network. A person’s social security number, US bank account number, accounts type and bank's 9 digit ABA Routing are required for a one-time registration process. US bank account details are required for verification. This ensures that only the person concerned can use the account and hence avoids any misuse.

The validation and activation processes involve the following steps:-

• A nominal amount in cents is debited and credited to your account the bank.

• Quickremit intimates you by e-mail that the test debit and credit amount has been initiated to your account.

• You have to refer to your bank statement to find out the exact amount that is debited and credited.

• Your Quickremit transaction status shows "Click to Verify" on the computer screen.

• Enter the exact amount in the space provided.

• If the details match the actual transactions carried out by the bank then your account will get activated and you will get an email notification on account activation.

• Check the verification status by logging in to Quickremit and then you can start remitting after successful verification of your account.

Funds are transferred from your bank account via Automated Clearing House mechanism. ACH network is a reliable and efficient nationwide electronic funds transfer system governed by the National Automated Clearing House Association's operating rules that authorise inter-bank clearing of electronic payments. One week count starts from the day the money from the previous remittance reaches the beneficiary account in India. Quickremit offers you the simplest way to make online donations to a host of charitable trusts and organisations in India that are empanelled with various banks.

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