RAKBank offers instant remit to Sri Lanka
New service tranfers money to Cargills Bank via blockchain using Ripple platform
Dubai: RAKBank has signed an agreement with Sri Lanka’s Cargills Bank to facilitate instant remit to Sri Lanks.
Further leveraging the partnership with Ripple, RAKBank’s RAKMoneyTransfer (RMT) services enables customers to make instant, frictionless, and secure money transfer services to Sri Lanka’s Cargills Bank via blockchain using Ripple platform. The Bank’s customers have the flexibility to use their RAKBANK credit cards to remit money at competitive rates, with no hidden fees and a 55-day interest-free credit period. In addition, the live retail remittance payments from RAKBANK to Cargills Bank and other banks in Sri Lanka reach their destination account instantly with end-to-end visibility over the journey of the payment.