Domestic Money Transfer
YES BANK is one of the pioneer banks which started domestic money transfer under its flagship program YES Money. YES Money has developed a unique platform to meet the remittance need of migrants, unbanked and under-banked population in India. This product design brings technology to the end user through the Business Correspondent Agents and simultaneously ensures a technology oblivious experience for the end user. This cash to Bank A/c remittance service is offered across more than fifty thousand outlets pan India. YES BANK utilizes the Business Correspondent (BC) model to bring the transaction touch-point closer to this set of customers that is available even at non-banking hours. The money, received by the BC agent , is transfer processed by the Bank using National Electronic Fund Transfer (NEFT) and Immediate Payment service (IMPS) technology.
Q. How much money can be transferred using YES Money Domestic Remittance?
- A. For Non-KYC senders – up to Rs. 25,000 per month - KYC Senders – Up to Rs. 2,00,000 per month
Q. Can the beneficiary withdraw money in cash?
A. No, cash withdrawal is currently not allowed for YES Money Domestic Remittance.
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