Users can now remit funds to 21 currencies for a host of purposes including education, maintenance of close relatives, gift, and travel.
One of the new services allows customers of other banks to complete the KYC (Know Your Customer) process via video conferencing to register themselves on M2W. Another new facility allows customers, having account with any other bank, to remit up to USD 250.000 in a financial year under the Liberalised Remittance Scheme (LRS), 10 times of their previous limit.
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