Cox & Kings Ltd. Introduces Money Transfer Solutions in Partnership with UAE Exchange India

Making a foray into the money transfer business in India, Cox & Kings Ltd., the leading holidays and education travel group, has partnered with UAE Exchange India, the leading financial institution, to provide inward remittance and domestic money transfer services in India. This strategic venture will enable Indians living abroad to conveniently remit funds to their families in India, with easy and flexible transfer options.

This association will expand the current network of collection centres and reach out to a broad category of consumers across the country. Cox & Kings has identified select locations within India, from where the customers can avail this service. There are no charges applicable to the recipient in India. Besides foreign inward money, domestic money transfer services will also be available at the designated Cox & Kings' outlets through this process.

Ravi Menon, Head - Foreign Exchange, Cox & Kings Ltd. said, "The strategic partnership will help us enter the money transfer business in India which is the largest recipient of remittance in the world. People who are expecting money from their relatives or friends abroad can now use our wide network of branches across India." 

The facility of inward remittance will provide a convenient and quick mechanism for Indians working abroad to send money to their families in India and also benefit foreign tourists visiting India. The money will be received in minutes and all that the recipient has to do is visit one of the designated locations to collect their money.

V George Antony, Managing Director, UAE Exchange said, “The new association with the renowned group will facilitate money transfer services for individuals residing abroad for inward remittance without any hassle. It will also help residents and foreign tourists to receive money instantly in India or do a domestic money transfer to any account in India through IMPS. The strategic partnership with Cox & Kings will cater the rising demands of inward and domestic remittance through the swift and secure money transfer services.’’

Anybody can transfer equivalent of US $ 2,500 to India as per the present Money Transfer guidelines of the Reserve Bank of India. An Indian national can receive 30 such remittances in a financial year.

According to a World Bank report, India leads the world in receiving over USD 69 Billion in 2015 by way of remittances. With its growing global network, Cox & Kings through this partnership with UAE Exchange India aims to capitalise on the growing remittance market.

 About UAE Exchange India

UAE Exchange India is one of the pioneers of financial services renowned for its penchant quality and optimized service trends, creating a niche for itself in the industry. Connecting people and creating progress with the finest of quality is the vision of UAE Exchange and Financial Services Ltd. The company has an extensive reach of 378 branches serving a population of 1.25 million people under the able support of 3375 employees. The company has been instrumental in providing cost-effective service in Foreign Exchange, Money Transfer, Air Ticketing & Tours, Loans, XPay Cash Wallet, Insurance and Share Trading.

About Cox & Kings Ltd.: (BSE: 533144 | NSE: Cox & Kings)

Cox & Kings Ltd. (CKL) is one of the longest established travel companies in the world since 1758. Headquartered in India, it is the leading holidays and education travel group with operations in 22 countries across 4 continents.

Over the last three decades, CKL has transformed itself into a diversified, multinational travel conglomerate with a focus on the new-age global consumer. 

CKL operate key verticals; Leisure, Education and Hybrid Hotels.

Leisure - India is best known for the ubiquitous Cox & Kings brand in India, where we are an integrated travel enterprise, offering the best and widest range of travel options to individuals, groups and businesses in the fastest growing major economy in the world. We have a total of 160 offices, including franchisees spread across India.

Leisure - We also have Destination Management Company operation offices in India, Dubai, Europe and Sri Lanka.

Leisure - International operates in multiple countries under a plethora of packaged travel brands.

Education operates under the brand names PGL and NST, among others, mainly in the UK, and Australia. Experiential learning is the way forward and we are experts in this area and intend to take our brand across the world.

Meininger: We operate 16 hybrid hotels in Europe under the Meininger brand. Our unique selling proposition is that we can deliver today’s traveller a clean, safe, stay in city-centre locations.

Over the years the company has won many awards that stand testimony to its excellent service.

CKL is one of the founding members of the World Travel and Tourism Council (WTTC) and are members of premier industry associations such as TAAI, TAFI, IATO and ETOA.  

In 2016, the company has won a string of awards and amongst them are the World Travel Awards for Asia’s leading luxury tour operator, India’s leading travel agency and India’s leading tour operator. It also won the award for Deccan Odyssey, which emerged as Asia’s leading luxury train.

Our Executive Director Ms. Urrshila Kerkar won the Game Changer of the Year Award and our Director Mr. Peter Kerkar was honoured by the British Travel and Hospitality Hall of Fame in 2015.