Axis Forex Online

Axis Forex Online
Type of site
 Financial Services
Headquarters Mumbai, India
Owner Axis Bank
Services Forex
Website www.axisforexonline.com
Launched 2016
Current status Active

Axis Forex is an online money transfer service by the Axis Bank that provides outward remittance services.[1][2]

History

In 1993 the Bank was launched as UTI,[3] which was later rebranded as Axis Bank in 2007.[4] In August 2013, it became one of the early forex solution providers to issue a Forex prepaid card that can be loaded with multiple currencies. In 2016 they launched its Axis Forex Online platform as an independent service.[5][6]

In April 2018, the company entered into a partnership with Mastercard to launch Forex card for football fans.[7]

Products and services

Outward remittance

It allows money transfer in more than 150 countries in over 100 currencies with a limit of $25,000 in a single transaction and $250,000 yearly limit.[8][9]

Multi-currency Forex cards

Axis Bank offers contactless multi currency Forex cards to Indian travelers for making transactions while travelling abroad.[10][11]

Foreign currency cash

It also allows to order currency online and delivers directly at the doorstep.

Regulations

India

Axis Forex, under the Liberalised Remittance Scheme and Foreign Exchange Management Act, 1999 is allowed to do operations in the country and it is regulated by the Reserve Bank of India.[12]

References

  1. ↑ "Axis Bank launches India's first comprehensive online retail forex solution". India Infoline. 31 March 2016. Retrieved 30 May 2018.
  2. ↑ "Axis Bank launches online forex solution - Times of India". The Times of India. Retrieved 2018-05-30.
  3. ↑ Kotak, Uday (27 October 2014). "Uday Kotak: Now, wait for the next Big Thing". Business Standard India. Retrieved 2018-05-30.
  4. ↑ "UTI Bank is now Axis Bank - Livemint". www.livemint.com. Retrieved 2018-05-30.
  5. ↑ "Axis Bank offers online retail forex remittance - Times of India". The Times of India. Retrieved 2018-05-30.
  6. ↑ Vishwanathan, Vivina (2016-05-09). "Five ways to smoother banking". Livemint. Retrieved 2018-05-30.
  7. ↑ "Axis Bank, Mastercard to launch forex card for football fans". India.com. 2018-04-16. Retrieved 2018-05-30.
  8. ↑ "Axis Bank offers online retail forex remittance - Times of India". The Times of India. Retrieved 2018-05-30.
  9. ↑ Vishwanathan, Vivina (2016-04-04). "Product crack: Axis Forex Online". Livemint. Retrieved 2018-05-30.
  10. ↑ "Axis Bank promotes forex card for overseas travel". Indian Television Dot Com. 2018-03-30. Retrieved 2018-05-30.
  11. ↑ "Go cashless with Axis Bank Forex Cards on your next foreign trip". www.bestmediaifo.com. Retrieved 2018-05-30.
  12. ↑ "Imperva". www.axisforexonline.com. Retrieved 2018-05-30.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.