Xpress Money launches flat fee on money transfers

Xpress Money on Monday announced that it has introduced a flat fee of Dhs15 for remittances of any denominations to India. The revised fee comes on the heels of the company’s decision to discontinue its earlier slab system of differential pricing based on the amount being transferred to India. By combining effective management of the exchange rates with an affordable transfer fee of Dhs15, Xpress Money is confident of offering the best rates to its customers. Sudhesh Giriyan- Head, Xpress Money Business, said: “India is also the largest ‘receive’ market in the remittance industry having received upwards of $58 billion in 2011.