International Funds Transfer
International Funds Transfer services from Mashreq are designed to handle international remittances in an efficient and cost effective manner for corporate and individual beneficiaries around the world. Our fully automated payment systems are specifically designed to handle third party, commercial and clean payments. While most bank payment products and systems are designed for traditional treasury clearing FX settlements, Mashreqs' system is specifically designed to handle the additional details involved in these payments like invoice numbers, beneficiary accounts or addresses.
Our Worldwide Payment System provides
- We have direct membership of Clearing Houses/Systems at all our locations
- Automated Processing in message routing and handling interfaced with SWIFT and Telex inceasing efficiency and accuracy
- Increased efficiency through direct access to Mashreq's large branch/office and Correspondent Network
- Customer Service is provided in an efficient manner by our trained personnel who can generally solve your problem in a single phone call, using online, real time integrated information
- Same Day Funds are available immediately in cash or transfers in like funds
- Funds at the disposal of the beneficiary on the value date, the date the transaction is posted to your account. We can accept instrunctions priopr to the value date and execute them on that date
International Office Services
- In New York, we are direct members of two US dollar clearing systems, Fedwire and Clearing House Interbank Payments System(CHIPS), providing straight through processing, reducing both costs and errors.
- Our London branch is well positioned to meet your Correspondent Banking requirements in Euro. We are a STEP 1 Bank and a member of the European Banking Association (EBA). Our capabilities include the ability to provide fast and efficient pan-European Funds Transfer Services at prices below the market or at part with the prevailing market rates in Euro and Pounds Sterling
- At our Mumbai branch we are live on RTGS and NEFT systems allowing electronic transfer of funds to thousands of branches across India in a matter of hours.