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Western Union ties up with IOB

December 29, 2004 16:56 IST
Leading US-based money changer Western Union on Wednesday announced a strategic tie-up with Indian Overseas Bank to provide money transfer service to Indian diaspora.

As per the agreement, money transferred through Western Union would be encashed at 154 IOB branches across India.

Western Union had last week entered into a similar arrangement with Punjab National Bank. The US-based company forged both tie-ups through their direct agent Weizmann Forex.

"Our strategy of teaming up with institutions such as IOB shows that Western Union and its agents can offer a reliable money transfer service to Indians abroad," said Anil Kapur, Western Union regional vice president (South Asia).

 

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