TRANSFAST Launches Instant Deposit Service to HDFC Bank in India

transfastProprietary Network Grows to Incorporate One of India’s Leading Banks


NEW YORK (Feb. 24, 2015) — TRANSFAST, the global money transfer company, and HDFC Bank of India today announced they are partnering to enable TRANSFAST customers worldwide to make instant transfers into accounts at HDFC Bank. The instant service is available 24x7x365 – including bank holidays.


“HDFC Bank is one of India’s leading banks,” says Roshan Polepalli, VP of “We are excited to be able to offer this instant bank deposit service and know our customers with accounts at HDFC Bank will enjoy the added convenience.”


TRANSFAST customers are now able to send money to friends and family in India via mobile phone, tablets, desktop, laptop and in person at agent locations. Money can be deposited directly into recipients’ bank accounts, or they can pick up cash at more than 25,000 convenient locations across India.


“At HDFC Bank, we are consistently looking at new ways in which we can make a difference in the lives of our customers. Through this tie-up with TRANSFAST, we will be able to provide this innovative service of instant deposits,” says Rajender Sehgal, Group Head, Financial Institutions Group, HDFC Bank. “We look forward to bringing a whole new world of convenience and flexibility to our account holders, allowing them to receive money from the U.S. in a secure manner, at any time of the day or night.”




TRANSFAST is a fast-growing international money transfer and payments company in the $514 billion annual global remittance industry.


The company operates a proprietary network of that covers more than 100 countries in the Americas, Asia, Europe, and Africa. TRANSFAST is licensed in more than 50 jurisdictions around the world, and is headquartered in New York City.


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About HDFC Bank:


Promoted in 1995 by Housing Development Finance Corporation (HDFC), India’s leading housing finance company, HDFC Bank is one of India’s premier banks providing a wide range of financial products and services to its 28.9 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the Bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.


As of December 31, 2014, the Bank had a distribution network with 3,659 branches and 11,633 ATMs in 2,287 cities/towns.


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