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Remit2India launches annual money transfer scheme >From Indo-Asian News Service New Delhi, Feb 5 (IANS) Remit2India, the money transfer service from the Times of India Group, has launched an annual money transfer subscription scheme to help customers send money to India by paying a one-time fee. As part of the Freeway offer, customers can sign up with Remit2India.com to send money to India all through the year for a one-time fee of $15, said a Times statement issued here. There are an estimated 1.7 million non-resident Indians (NRIs) in the U.S. who send as much as $5 billion to India every year. "This highly successful and influential community has strong ethnic bonds and retains its ties with its homeland through periodic remittances for family maintenance and as gifts to loved ones," said the statement. Currently most of the money transfer services operate on a per-transaction fee. "Remit2India further reduced pricing to allow money transfers for as little as $3, making it the most pocket friendly service for NRIs around the world," said Vineet Jain, managing director of the Times Group. "Constantly pioneering new convenience, Remit2India is the face of a rapidly innovating and customer centric Indian money transfer service," he added. Timesofmoney CEO Raj Kapoor said: "We believe in introducing our customers to conveniences and facilities that they do not normally expect from a money transfer service. "We are committed to bettering the price value equation in favour of our customers every minute of our day." Remit2India, which was launched in 2001, allows a customer to send money to family in India using Internet. Funds are delivered to the family's doorstep as locally payable demand drafts or directly deposited into the receiver's account. Research indicates that the average Asian Indian in the U.S. sends money to India around thrice a year, said the Times statement. "The subscription plan offers a tremendous saving, taking Remit2India way ahead of its competition on affordability." --Indo-Asian News Service
