Business Desk :
Eastern Bank Limited (EBL) has launched Inward Remittance Services for EBL Visa Cardholders through a zoom conference on Tuesday. This new service will enable EBL Visa Cardholders to receive foreign remittances almost instantly, said a press release.
Inward Remittance Services of EBL offer wage-earners currently working outside of Bangladesh an instant and secure way to send money to their family members and relatives in Bangladesh. EBL cardholders using this service can almost instantly receive remittance on their card.
At the moment, EBL customers will require EBL Visa Debit Travel Quota Card to receive foreign remittances. Soon other EBL card products will be enabled to receive inward remittances. Remitters will be able to send $2500 per transaction using one card, up to five transactions a month per card, and 30 transactions a year per card.
Initially Bangladeshis working in Malaysia and Singapore will get the opportunity to send remittances to their relations in Bangladesh, but gradually more countries will be added to the list. Visa has partnered with Maybank in Malaysia and NIUM in Singapore to facilitate this service for fund transfers which are not limited to Visa cards alone and can be initiated via any authenticated source of funding.
