IndusInd Bank customers can now send money abroad in 123 currencies through J.P. Morgan tie-up

IndusInd Bank has partnered with J.P. Morgan Payments to allow customers to send money overseas in 123 currencies, expanding its outward remittance services through direct local-currency settlements.

The collaboration integrates J.P. Morgan Payments' Xpedite solution into the bank's remittance services. It will allow customers to transfer funds directly in the beneficiary's local currency, reducing the need for intermediary currency conversions during international transactions.

The service is currently available to IndusInd Bank customers through its branches. The bank plans to extend access to online and mobile banking channels, allowing customers to initiate outward remittances at any time, 24 hours a day and seven days a week.


According to the banks, the Xpedite solution uses J.P. Morgan Payments' global network, automated currency rate feeds and streamlined processing capabilities to make international transfers faster and more efficient.

Ganesh Sankaran, Executive Director, IndusInd Bank, said, "Our customers are increasingly engaging with global markets, making simpler and more seamless international payments an important priority for us. By collaborating with J.P. Morgan Payments, we are strengthening our cross-border payments capabilities, expanding access to 123 currencies and enabling direct local-currency settlements. This enhances the remittance experience for our customers while reinforcing our commitment to building a more connected, convenient and future-ready banking experience."

Guhaprasath Rajagopal, Head of India Payments, J.P. Morgan Payments, said, "Through J.P. Morgan Payments' Xpedite solution, we will deliver an integrated cross-border payments experience for IndusInd Bank customers. By combining our global platform with local expertise, we serve as a trusted correspondent bank for cross-border solutions, enabling customers to move money faster and more safely."

The partnership is expected to strengthen the bank's services for customers with international payment requirements by providing access to a wider range of currencies through a single banking relationship.

J.P. Morgan Payments' global network

J.P. Morgan Payments brings together treasury services, trade and working capital, blockchain and tokenisation, and card and merchant services. Its services help businesses make payments to customers and employees across countries and currencies.

The payments division processes nearly $12 trillion in transactions daily and operates in more than 160 countries and over 120 currencies.

The latest collaboration expands the currency options available to IndusInd Bank customers making overseas transfers, with digital access to the service expected to follow.