VMPL
Mumbai (Maharashtra) [India], August 5: IDFC FIRST Bank announces the launch of RemitFIRST2India, a next-generation digital remittance platform that allows Non-Resident Indians (NRIs) to send money to their families in India quickly, securely, and with zero transfer fees. NRI customers of IDFC FIRST Bank can simply log-in to the Mobile Banking App and make the transaction. For non-IDFC FIRST Bank NRI users, the platform offers a simple, paperless onboarding journey through a dedicated web-portal.
RemitFIRST2India has been launched in partnership with SingX, a leading remittance provider licensed by Monetary Authority of Singapore, to offer a fully compliant and seamless cross-border payment experience. Currently, the platform supports transfers from Singapore and Hong Kong, with expansion plan across other countries. It also keeps the customer updated on each step of a transaction with live transaction tracking. The platform has been designed with a strong focus on speed, transparency, and easy access.
Key Features of RemitFirst2India:
* Zero Transfer Fees: Send money without any processing or platform fees
* Competitive, Guaranteed Forex Rates: No hidden markups/charges
* Seamless Digital transfer: Speedy paperless transfer to any bank account in India with real-time tracking
* Welcome Benefits: Enjoy extra Forex margin on the first three transfers for new users
Speaking about this launch, Ashish Singh, Head Retail Liabilities, said, “RemitFIRST2India is more than just a remittance solution — it is a reflection of our customer-first philosophy. We’ve designed it to be intuitive, transparent, and truly global. Whether you are an existing customer or new to the Bank, you can now send money home in just a few clicks, no charges and with complete peace of mind. This launch strengthens IDFC FIRST Bank’s position as a digitally forward bank that delivers secure, efficient, and affordable banking solutions to the global Indian diaspora “
Atul Garg, Chief Executive Officer, SingX said, “With world attention centred around India, NRI flows into India are likely to double in the next 5 years. Traditionally NRIs have sent money to India for family maintenance purposes. We are increasingly seeing a number of NRIs remitting funds to India to participate in Indian debt and equity investments. We are delighted to partner with IDFC FIRST Bank to launch an innovative service which enables NRIs to transfer funds to India in a smoother and more cost-effective fashion.”
NRI Customers with IDFC FIRST Bank can send money directly using their mobile banking app without any additional registration process. New customers can also experience a frictionless process, where they can complete a quick, one-step profile creation and immediately proceed to book their transaction.
For more on How to Send Money to India details: Visit https://www.idfcfirstbank.com/nri-banking/remittance/send-money-online
About the Bank
IDFC FIRST Bank is a fast growing, new age Private Sector Bank created in India with a vision of building a world-class Bank in India, focused on Ethical, Digital, and Social Good Banking. The Bank has 35.5 million live customers, a customer deposit base of Rs. 2,56,799 crore and loans and advances of Rs. 2,53,233 crore, spread over 60,000 cities, towns, and villages across India. It has 1,016 branches but is built as a digital first Bank in scale, scope, and approach.
Its customer deposits are growing at 26% YoY and Loans & Advances growing by 21% YoY (June 30, 2025) based on friendly user digital interface, ethical approach, customer friendly products, strong brand, and high corporate governance. Its technology stack is built on advanced technology using cloud native experience layer, microservices led architecture, and powered by advanced data platform, analytics, and Artificial Intelligence.
Its mobile App has over 2 million views and is rated 4.9 on Google Playstore and 4.8 on Appstore. The App is rated #1 in India and #4 App in the world by The Forrester Digital Experience Review™: Global Mobile Banking Apps, Q4 2024 for prioritising Customers’ financial well-being, comprehensive suite of financial management features, and personalized financial insights, providing educational resources and expert guidance through its Financial Wellness Corner and IDFC First Academy.
The 7 Core Principles of IDFC FIRST Bank
1. Vision: Building a world-class Bank in India, focused on Ethical, Digital, and Social Good Banking.
2. Universal Bank: IDFC FIRST Bank is a Universal Bank, offering a comprehensive range of services, including Retail, MSME, Rural, Startups, Corporate Banking, Cash Management, Wealth Management, Deposits, Government Banking, Working Capital, Trade Finance, and Treasury solutions.
3. Ethical Banking: The Bank adheres to a “Near and Dear” test, ensuring its products are so customer-friendly that employees can confidently recommend them to loved ones. The Bank is committed to doing right by customers even when no one is watching and believes that income earned unethically is not worth earning. So, the Bank has simplified descriptions, calculations, and legal jargon to avoid confusing customers and offers “ZERO FEE Banking” on all savings account services, including SMS alerts, IMPS, RTGS, NEFT, cash deposits, non-home branch access, ATM withdrawals, cheque books, Demand Drafts, Pay Orders, duplicate statements, and other commonly charged services. It is the first and only bank in India to do so.
4. Customer Friendly Banking: IDFC FIRST Bank credits interest monthly on savings accounts. For credit cards, it offers lifetime-free cards with no minimum spend conditions, non-expiring reward points, zero interest on ATM cash withdrawals, and dynamic low APR. Any applicable fees are transparent and clearly explained.
5. Digital Banking: The Bank’s modern technology stack delivers high-quality services across mobile, branch, internet banking, call centres, and relationship managers.
6. Social Good Banking: The Bank is financially inclusive with high asset quality. It has financed over 38 million customers, including 16 million lifestyle improvement loans, 15 million loans to 4.3 million women entrepreneurs, 6.5 million vehicle loans, 1 million sanitation loans, 1 million livelihood loans, 300,000 SME loans, and 100,000 home loans.
7. ESG: The Bank holds high ESG scores, reflecting its commitment to financial inclusion and social responsibility.
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