Posted on June 03, 2017

Commercial Bank, Qatar’s first private bank, is the first bank in Qatar to introduce ‘60 seconds’ online remittances to bank accounts in India. ‘60 seconds’ is a unique online remittance available 24 hours, seven days a week; anywhere; anytime offering world class service. 

More than 12,000 Commercial Bank customers’ can now transfer money to India in less than '60 seconds’ with market leading exchange rates and competitively priced fees. Using the Bank's simple, secure and convenient Mobile and Internet Banking services, customers can transact at their convenience. Working in coordination with HDFC Bank India and supported by 30 other banks in India, Commercial Bank has successfully completed a pilot to transfer funds within 60 seconds and is rolling this service out on Mobile and Internet Banking services.

Commercial Bank Group CEO, Joseph Abraham said: “Commercial Bank is pioneering the digital transformation taking place within Qatar’s banking industry and our 60 second transfer pilot for international remittances to India represents another ‘first to market digital innovation’. India is one of the biggest and fastest growing countries for remittances and we seek to provide the best client experience for Qatar’s large Indian expatriate population, as they are now able to conveniently send funds in less than one minute through Commercial Bank’s innovative digital banking platforms. This secure and convenient service has the potential to reach all corners of the community, supporting the Bank’s ambitions and goals.”

Commercial Bank EGM, Head of Retail and Consumer Banking, Amit Sah said: “With this service, customers will be able to transfer funds to India, almost instantly, enabling them to have funds in place to cover their financial commitments and goals in India. Customers can access the 60 seconds money transfer service via Commercial Bank’s online and mobile banking channels.”