Emirates NBD, a leading bank in the region, has announced that its foreign currency telegraphic transfer facility is free of charge for online banking customers until June 30.

“Today’s announcement will enable our customers to make all foreign currency online transfers, free of charge, until end of June 2011,” said Abdulelah AlKindy, general manager, Retail Banking, Emirates NBD.

“This is in line with our commitment to provide attractive benefits and greater convenience to what is already a fast and efficient alternate banking channel,” he added.

The limited-period offer is valid for all foreign currency telegraphic transfers that are conducted via BankNet, Emirates NBD’s comprehensive online banking system, a statement said.

“UAE remittances total around Dh120 billion ($32.66 billion) each year, primarily to support dependents or for investment purposes,” continued AlKindy.

“With a large expatriate population working and residing in the UAE, foreign currency telegraphic bank transfers are among the more popular services provided by UAE banks. At almost half of the total, the largest volume goes to India, followed by China Bangladesh, the Philippines, Pakistan, Nepal, Sri Lanka, Indonesia and other countries,” he added.

“As the pioneering online banking service in the UAE, Emirates NBDs BankNet offers the ideal platform for making fast and convenient telegraphic transfers to anywhere in the world. The transaction can be carried out simply from any laptop or smartphone, from the comfort of one’s home or office,” he concluded. – TradeArabia News Service