TimesofMoney, a provider of digital payment service in India, has signed a service agreement with Federal Bank to offer remittance solutions to all Federal Bank customers worldwide.

This tie up would enable all customers of Federal Bank – residing anywhere in the world – to remit funds online to any bank in the NEFT/RTGS network.

According to TimesofMoney, its latest service is all about speed of execution, safe & secure transaction environment and competitive pricing both in terms of exchange rates and transaction costs.

Federal Bank MD and CEO Shyam Srinivasan said that the TimesofMoney’s offering fits the requirements of Federal Bank’s NRI customers perfectly.

"Their track record in providing remittance solutions has been impeccable and we are confident that our customers would benefit immensely as a result of this association," Srinivasan said.