Commercial Bank Launches '60 seconds' Money Transfer e-Service to India

Sunday June 4, 2017

The Peninsula -- The Commercial Bank yesterday announced that it has become the first bank in Qatar to introduce a money transfer service that takes only ‘60 seconds’ for online remittances to bank accounts in India.


‘60 seconds’ is a unique online remittance available 24 hours, seven days a week; anywhere; anytime offering world-class service.  More than 12,000 Commercial Bank customers can now transfer money to India in less than '60 seconds’ with market leading exchange rates and competitively priced fees. Using the bank's simple, secure and convenient mobile and internet banking services, customers can transact at their convenience.


Working in coordination with HDFC Bank India and supported by 30 other banks in India, the Commercial Bank has successfully completed a pilot to transfer funds within 60 seconds and is rolling this service out on Mobile and Internet Banking services.


Joseph Abraham, Commercial Bank Group CEO,  said: “Commercial Bank is pioneering the digital transformation taking place within Qatar’s banking industry and our 60 second transfer pilot for international remittances to India represents another ‘first to market digital innovation’. India is one of the biggest and fastest growing countries for remittances and we seek to provide the best client experience for Qatar’s large Indian expatriate population, as they are now able to conveniently send funds in less than one minute through Commercial Bank’s innovative digital banking platforms."