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Federal Bank ties up with Aussie bank on remittance

febankFederal Bank has entered in a tie up with National Australia Bank on inward remittance from Australia at a discounted rate. Federal Bank said in a statement that it has entered into tie-up arrangement with National Australia Bank for facilitating online inward remittance to India at discounted rate, for its NRI customers based in Australia. According to bank’s business and products head Antu Joseph, the move will reduce the transaction charge to one-third. The cost is around one-third of the normal international fund transfer charges, he said. To avail the discount, customers need to register their National Australia Bank account details with Federal Bank.

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