Now money can be sent by mobile phones to 15 countries, bank Kotak Mahindra launched new service

The Fact News Service
New Delhi, February 16
Now you can also send money in the currency of 15 countries through a mobile phone. For this, Kotak Mahindra Bank launched a new service for customers on Monday. The bank has launched the Outward Forex Remittance Service Kotak Remit on mobile. Through Kotak Remit, you can transfer funds directly from your mobile phone to your relatives living abroad. Outward Forex Remittance Solution is live on Kotak mobile banking app. Kotak Mahindra Bank said, ‘For the first time Kotak customers can transfer money directly from their mobiles to their beneficiaries abroad. Customers will not have to pay any physical documents for transactions up to US $ 25,000. Kotak remit offers remittances in 15 currencies including US Dollar, Australian Dollar, UK Pound Sterling, Hong Kong Dollar, Saudi Riyal, Canadian Dollar, Singapore Dollar, Euro, Japanese Yen. “Mobile revolution has changed the way we bank, invest, shop, and pay,” said Phani Shankar, president, and co-head of Treasury and Global Markets, Kotak Mahindra Bank. Domestic payments have been one of the main areas of focus. The launch of Kotak Remit on mobile has entered a new phase of digital transformation involving international payments. It allows customers to transfer banking on mobile as well as international funds.