Faysal Bank Partners with Mashreq for QuickRemit Services

Faysal Bank has partnered with Mashreq, a leading financial institution of UAE, to provide QuickRemit service to Pakistan. QuickRemit, a money transfer platform that is considered among the fastest in the UAE, allows Mashreq Bank customers to remit money to Pakistan within few minutes via online and Mobile channels. And that too with zero remittance charges.

The direct bank transfer service enables Mashreq Bank customers to perform Pakistani Rupee remittances to any bank account in Pakistan within a short span of time as opposed to the regular remittance transfer in the market which could take up to 2 days.

Customers of Mashreq Bank can avail QuickRemit services to Pakistan using its award winning mobile application SNAPP, available 24/7 with zero remittance charges, and through Mashreq Online at www.mashreq.com. Customers can send money to their respective beneficiaries with the benefit of “instant credit”, appropriately named QuickRemit.

Customers can also benefit from “immediate credit” funds in the destination country, designed for individuals who are either salaried class or self-employed. These transfers are free of charge with zero remittance fees and are processed immediately. There is a quick two-step process to remit, and the customer simply has to register their beneficiary with the beneficiary bank account or IBAN number and the beneficiary bank name. Upon registration, the customer can start sending money immediately.

At the launch of the service, Rohit Garg, Head of Business Banking, Mortgages, Deposits and Remittances, Mashreq, stated:

“Our endeavour is to provide our customers with simple solutions to remit money, to various countries at competitive rates.”

Commenting on this partnership, Bilal Asghar, Head Corporate & Investment Banking, Faysal Bank Limited, said:

We are pleased to be the sole partner for Mashreq Bank’s direct remit to Pakistan. We will continue to work with our FI partners and the Pakistan Remittance Initiative (PRI) team to further expand coverage in GCC and EU markets offering Non-Resident Pakistanis secure and swift way to send money to their loved ones.