Mashreq announces first of its kind Remittance service for family

Reflecting on its commitment to offer far beyond banking products & services, leading financial institution Mashreq announced the launch of a unique insurance protection for remittances called ‘Remit Shield’. The product is designed to provide ultimate convenience with the guarantee of a sound and stable future.

The first of its kind service by a bank is set to benefit customers with additional coverage in case of unfortunate events. The new product offering is a clear demonstration of Mashreq’s continuity to offer tailor-made relevant products.

“Remittance is one of the key requirements for all expatriates and at Mashreq, we continuously look at providing financial solutions that accommodate customer banking requirements be it short term or long term.”said Tooran Asif, Head of Personal Banking, Mashreq. “This product has been created with the objective to offer peace of mind to our customers. Now remitting couldn’t be more rewarding as we continue to extend real value-added products.”

A convenient way to offer financial security to family, Mashreq customers can now look forward to remitting funds as well as securing their future. Under Mashreq ‘Remit Shield’ the sender’s legal beneficiary will receive 12 times the total amount remitted in the last 30 days. With a maximum coverage of up to AED 100, 000 customers can now be at ease that their well being is taken care of.

With no increase in fees, Remit Shield is a free of cost benefit. Customers are required to remit every month to become eligible. The newly launched product allows customers to lead a stress free life.

Asif continued, “We all realize the significance of family and the importance to sustain support to them. With Remit Shield customers can feel comfortable knowing that their bank will offer the assistance in times of need. We are pleased to pioneer in this product which enhances Mashreq’s leadership in the innovation and convenient banking aspect.”

The key benefits include no service fee, competitive rates with no additional paperwork and most importantly the convenient channels to remit through MashreqOnline Banking, Mashreq Mobile and a branches network strategically located across the UAE.