Mumbai, 5th August,
2025 : IDFC FIRST Bank announces the launch of RemitFIRST2India, a next-generation digital remittance platform that allows
Non-Resident Indians (NRIs) to send money to their families in India quickly,
securely, and with zero transfer fees. NRI customers of IDFC FIRST Bank can
simply log-in to the Mobile Banking App and make the transaction. For
non-IDFC FIRST Bank NRI users, the platform offers a simple, paperless
onboarding journey through a dedicated web-portal.
RemitFIRST2India has
been launched in partnership with SingX, a leading remittance provider licensed
by Monetary Authority of Singapore, to offer a fully compliant and seamless
cross-border payment experience. Currently, the platform supports transfers
from Singapore and Hong Kong, with expansion plan across other countries. It
also keeps the customer updated on each step of a transaction with live
transaction tracking. The platform has been designed with a strong focus on
speed, transparency, and easy access.
Key Features of RemitFirst2India:
- Zero Transfer Fees:
Send money without any processing or platform fees - Competitive, Guaranteed Forex Rates: No hidden markups/charges
- Seamless Digital transfer: Speedy paperless transfer to any bank account in
India with real-time tracking - Welcome Benefits:
Enjoy extra Forex margin on the first three transfers for new users
Speaking about this launch, Ashish
Singh, Head Retail Liabilities, said, “RemitFIRST2India is more than
just a remittance solution — it is a reflection of our customer-first
philosophy. We’ve designed it to be intuitive, transparent, and truly global.
Whether you are an existing customer or new to the Bank, you can now send money
home in just a few clicks, no charges and with complete peace of mind. This launch
strengthens IDFC FIRST Bank’s position as a digitally forward bank that
delivers secure, efficient, and affordable banking solutions to the global
Indian diaspora ”
Mr Atul Garg, Chief Executive Officer, SingX said, “With world attention centred around India, NRI flows
into India are likely to double in the next 5 years. Traditionally NRIs have
sent money to India for family maintenance purposes. We are increasingly seeing
a number of NRIs remitting funds to India to participate in Indian debt and
equity investments. We are delighted to partner with IDFC FIRST Bank to launch
an innovative service which enables NRIs to transfer funds to India in a
smoother and more cost-effective fashion.”
NRI Customers with IDFC FIRST Bank can send
money directly using their mobile banking app without any additional
registration process. New customers can also experience a frictionless process,
where they can complete a quick, one-step profile creation and immediately
proceed to book their transaction.
For more on How to Send Money to India
details: Visit https://www.idfcfirstbank.com/nri-banking/remittance/send-money-online
About the Bank
IDFC FIRST Bank is a fast growing, new age
Private Sector Bank created in India with a vision of building a world-class
Bank in India, focused on Ethical, Digital, and Social Good Banking. The Bank
has 35.5 million live customers, a customer deposit base of Rs. 2,56,799 crore
and loans and advances of Rs. 2,53,233 crore, spread over 60,000 cities,
towns, and villages across India. It has 1,016 branches but is built as a
digital first Bank in scale, scope, and approach.
Its customer deposits are growing at 26% YoY
and Loans & Advances growing by 21% YoY (June 30, 2025) based on friendly
user digital interface, ethical approach, customer friendly products, strong
brand, and high corporate governance. Its technology stack is built on advanced
technology using cloud native experience layer, microservices led architecture,
and powered by advanced data platform, analytics, and Artificial Intelligence.
Its mobile App has over 2 million views and
is rated 4.9 on Google Playstore and 4.8 on Appstore. The App is rated #1 in
India and #4 App in the world by The Forrester Digital Experience
Review™: Global Mobile Banking Apps, Q4 2024 for prioritising
Customers’ financial well-being, comprehensive suite of financial management
features, and personalized financial insights, providing educational resources
and expert guidance through its Financial Wellness Corner and IDFC First
Academy.
The 7 Core Principles of IDFC FIRST
Bank
- Vision: Building
a world-class Bank in India, focused on Ethical, Digital, and Social Good
Banking. - Universal Bank: IDFC FIRST Bank is a Universal Bank, offering a
comprehensive range of services, including Retail, MSME, Rural, Startups,
Corporate Banking, Cash Management, Wealth Management, Deposits,
Government Banking, Working Capital, Trade Finance, and Treasury
solutions. - Ethical Banking: The Bank adheres to a “Near and
Dear” test, ensuring its products are so customer-friendly that
employees can confidently recommend them to loved ones. The Bank is
committed to doing right by customers even when no one is watching and
believes that income earned unethically is not worth earning. So, the Bank
has simplified descriptions, calculations, and legal jargon to avoid
confusing customers and offers “ZERO FEE Banking” on all savings account
services, including SMS alerts, IMPS, RTGS, NEFT, cash deposits, non-home
branch access, ATM withdrawals, cheque books, Demand Drafts, Pay Orders,
duplicate statements, and other commonly charged services. It is the first
and only bank in India to do so. - Customer Friendly Banking: IDFC FIRST Bank credits interest monthly on savings
accounts. For credit cards, it offers lifetime-free cards with no minimum
spend conditions, non-expiring reward points, zero interest on ATM cash
withdrawals, and dynamic low APR. Any applicable fees are transparent and
clearly explained. - Digital Banking: The Bank’s modern technology stack delivers
high-quality services across mobile, branch, internet banking, call
centres, and relationship managers. - Social Good Banking: The Bank is financially inclusive with high asset
quality. It has financed over 38 million customers, including 16 million
lifestyle improvement loans, 15 million loans to 4.3 million women
entrepreneurs, 6.5 million vehicle loans, 1 million sanitation loans, 1
million livelihood loans, 300,000 SME loans, and 100,000 home loans. - ESG: The Bank
holds high ESG scores, reflecting its commitment to financial inclusion
and social responsibility.
