HSBC money transfer scheme

Global bank HSBC has launched a new money transfer service for Indians living in the Gulf in a bid to boost its share of the multi-billion dollar India remittance pie. The 'One World' money transfer scheme will allow Indians to open bank accounts in the UAE even before they arrive here, to transfer their credit history from India as well as help with their credit card and mortgages, Mr Manasije Mishra, head of NRI services for HSBC India said on Tuesday. Indians living in the UAE can also transfer money to their HSBC accounts in India free of charge using cheques or the Internet.