International Funds Transfer services from Mashreq are designed to handle international remittances in an efficient and cost effective manner. Payment systems are the backbone of the financial infrastructure of the nation, enhance globalization and act as tools of economic empowerment by financial inclusion. Our fully automated payment systems are specifically designed to handle third party, commercial and clean payments with ease.
Our Worldwide Payment System Provides
- Direct membership of Clearing Houses/Systems at all our locations
- Automated Processing in message routing and handling interfaced with SWIFT increasing efficiency and accuracy
- Increased efficiency through direct access to Mashreq’s large branch/office and Correspondent Network
- Customer Service is provided in an efficient manner by our trained personnel who can generally solve your problem in a single phone call, email, swift using online, real time integrated information
- Same Day Funds are available immediately in cash or transfers in like funds
- Funds at the disposal of the beneficiary on the value date, the date the transaction is posted to your account. We can accept instructions prior to the value date and execute them on that date
International Office Services
- In New York, we are direct members of two US dollar clearing systems, Fedwire and Clearing House Interbank Payments System(CHIPS), providing straight through processing, reducing both costs and errors. We also provide Online Web solutions viz., a Payment, Inquiry and Balances system which interface to our core payment system which in turn is integrated with Chips, Fed and Swift.
- Our London branch is well positioned to meet your Correspondent Banking requirements in Euro and Sterling. We are a STEP 1 Bank and a member of the European Banking Association (EBA) and are part of Target II arrangements since the first batch of banks in Europe joined near the year end of the year 2007. Our capabilities include the ability to provide fast and efficient pan-European Funds Transfer Services at prices below the market or at par with the prevailing market rates in Euro and Pounds Sterling.
- In India, Mumbai branch we are live on RTGS and NEFT systems allowing electronic transfer of funds to thousands of branches across India in a matter of hours.