The personal loan lender in the country, Axis Bank has launched Instant Money Transfer (IMT) service. It is a new remittance service having pioneering characteristics.

The service will initially be offered only to clients in Mumbai, Bangalore, Hyderabad and Ahmadabad.

The bank is anticipated to launch the service all throughout India in the next 4-6 weeks. By using this service the customers can get instant payment facility to any part in India at very nominal cost.

 An extra advantage is that the receiver need not have an account with Axis Bank. He just requires a mobile phone in order to be informed of the remittance.

Then the receiver has to visit the closest Axis Bank ATM to withdraw the money. Recipient can use net banking, mobile banking and ATM to withdraw the money.

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