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Direct Remit

If you’re looking for the fastest and most convenient way to send money to, then the New Direct Remit Service by QIB is just what you need.

You can make their money transfers reach to the beneficiary account within seconds. The access to the service is available round the clock 24/7.

Now you have the freedom to manage and customize your transfer limits, all via the QIB Mobile App.

With Direct Remit, you enjoy free and instant money transfer on your first transaction to India, Pakistan, Philippines, Jordan or Egypt.

You’ll benefit from several benefits including:

  • Instant transfer
  • Refund the first transfer fee of QAR 15 to customers’ account within a maximum of 2 weeks from the date of the transfer
  • Competitive foreign currency conversion rate

This offer is valid from June 25 until September 25, 2023.

Terms and Conditions:

  • The duration of this campaign is for 3 months starting from 25/06/2023 to 25/09/2023
  • Customers making their 1st Direct Remit transaction during the campaign period will be eligible for the waiver of QAR 15 Direct Remit fees
  • Customers submitting their 1st transaction through Direct Remit will be identified and the fees will be refunded to their account within a maximum of 2 weeks
  • The applicable Correspondent Bank fee will not be waived (if any)

Direct remit is an innovative transfer service which allows all QIB Mobile App registered customers to make instant money transfers to the major expat destinations on the spot. The Direct remit service has enabled its reach to 5 major corridors:

  • Egypt
  • Jordan
  • India
  • Pakistan
  • Philippines

And more to come…….

Partnership with the most prominent Banks from above corridors has helped QIB to introduce this reliable and convenient service to fast track your transfers.

Terms & Conditions:

  • The Successful Process of Transfers depends on the accuracy of information provided during the beneficiary creation which is interdependent on the validity status of the beneficiary account.
  • Turnaround time will depend on the specified transfer mode.

Download QIB Mobile App:

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Transfer to Jordan:

  • The Direct remit service to Jordan is processed through HBTF Bank, which is our correspondent bank for international transfers to Jordan and the service is available 24/7.
  • The minimum transfer amount is 10 Jordanian dinars (equivalent to approximately 52.2 Qatari riyals).
  • The maximum transfer limit is 10,000 Jordanian dinars (equivalent to approximately 52,200 Qatari riyals).
  • The transfer is made from an account to an account according to the following systems:
Instant Transfer Service to HBTF Bank Customer Accounts:
  • The transfer process takes place within 60 seconds.
  • Correspondent bank fees for the transfer are 3 Jordanian dinars (equivalent to approximately 15.66 Qatari riyals).
Transfer Service (RTGS) to third party bank customer accounts:
  • Transfers that take place from 8:30 in the morning until 2:30 in the evening during official working days, the transfer will be completed within 60 seconds.
  • Transfers made after the mentioned times will take place on the next working day at 8:30 am.
  • The times mentioned are according to the timings in Jordan
Correspondent bank fees for the transfer from 5 to 10 Jordanian dinars according to the following clarification:
Applying a fee of 5 JD for transfers of up to 5,000 JD.
Transfers higher than 5,000 JOD fees are calculated on the basis of 0.001.

 

Transfer to India:

  • The Direct remit service to India is processed through HDFC Bank, which is our correspondent bank for international transfers to India, and the service is available 24/7.
  • The transfer is made from account to account according to the following modes:
Instant Money payment Transfer (IMPS):
  • The transfer process takes place within 60 seconds.
  • The maximum transfer amount is 200,000 Indian Rupees (equivalent to approximately 10,000 Qatari Riyals)
Fund Transfer System: National Electronic Bank Transfer (NEFT) –
  • The transfer process takes place within two hours.
  • Maximum limits for the transfer amount:
  1. From 7 am to 7 pm: There is no maximum transfer amount.
  1. From 7 pm to 7 am: 10 million rupees (equivalent to 500,000 Qatari riyals).
  • The above times are according to Indian Standard Time – IST

 

Transfer to Pakistan:

  • Direct remit service to Pakistan is processed through Habib Bank LTD (HBL), which is our correspondent bank for international transfers to Pakistan and the service is available 24/7.
  • The minimum transfer amount is 25,000 Pakistani rupees (equivalent to approximately 550 Qatari riyals).
  • The transfer is made from account to account according to the following modes:
Instant payment service to the accounts of Habib Bank LTD (HBL) customers:
  • The conversion process takes place within 60 seconds.
  • The maximum transfer amount is 2,200,000 Pakistani rupees (equivalent to approximately 48,150 Qatari riyals).
Instant Transfer Service (IBFT) to third party bank customer accounts
  • The transfer process takes place within 60 seconds.
  • The maximum transfer amount is 999,999 Pakistani rupees (approximately equivalent to 21,900 Qatari riyals).
Transfer service via (RTGS) to the accounts of customers of third-party banks:
  • Monday to Friday (10 am to 3 pm Pakistan time) Credits will be made to beneficiary accounts within minutes
  • All transfers after the mentioned times will be made on the first working day.
  • The minimum transfer amount is 1,000,000 Pakistani rupees (approximately equivalent to 21,900 Qatari riyals)
  • The maximum transfer amount is 2,200,000 Pakistani rupees (equivalent to approximately 48,150 Qatari riyals)

 

 Transfer to Philippines:

  • Direct remit service service to the Philippines is processed through BDO Bank, which is our correspondent bank for international transfers to the Philippines and the service is available 24/7.
  • Correspondent bank fees for the transfer is 90 Philippine pesos (equivalent to approximately 6.60 Qatari riyals).
  • The minimum transfer amount is 5,000 Philippine pesos (equivalent to approximately 365 Qatari riyals).
  • The transfer is made from account to account according to the following modes:
Instant transfer service to BDO bank customer accounts:
  • The transfer process takes place within 60 seconds.
  • The maximum transfer amount is 499,999 Philippine pesos (approximately equivalent to 36,500 Qatari riyals).
Transfer service (Instapay) to the accounts of customers of third-party banks:
  • The transfer process takes place within 60 seconds.
  • The maximum transfer amount is 50,000 Philippine pesos (equivalent to approximately 3,650 Qatari riyals).
Transfer service (Pesonet) to accounts of third-party bank customers:
  • Transfers made between 7 am to 2 pm will be deposited on the same day.
  • Transfers made after the mentioned times will be made on the next business day.
  • The minimum transfer amount is 50,001 Philippine pesos (equivalent to approximately 3,650 Qatari riyals).
  • The maximum transfer amount is 499,999 Philippine pesos (approximately equivalent to 36,500 Qatari riyals).
  • Partnership with the most prominent Banks from above corridors has helped QIB to introduce this reliable and convenient service to fast track your transfers.

 

Transfer to Egypt:

  • Instant – Transfer mode to beneficiary Account in Banque Misr.
  • ACH – Transfer mode to beneficiary Bank Account with other Banks in Egypt.

Instapay: For crediting to Banque Misr beneficiary accounts

  1. Turnaround time:
  • Processing time is instant within one minute.
  • There are no cut-off times to the Banque Misr beneficiary account transfers (24/7).
  • The above is subject to AML clearance from QIB or Banque Misr.

ACH (Account Clearing House): For crediting to 3rd party Bank beneficiary accounts:

  1. Turnaround time:
  • Processing time depends on the beneficiary banks working hours/ days, regulations.
  • The cutoff time for transaction processed during 8:00 AM (CLT) until 3:30 PM (CLT) with value same working day.
  • Noting that if the transfer will be sent after 3:30 PM it will be processed with value of next working day.
  • All of the above is subject to AML clearance from QIB or Banque Misr.

Transfer Currency & limits:

  • Direct remit transfer limits are classified based on customer segment type and equivalent to QAR
  • Direct remit transfer limits:
Customer SegmentDirect Remit Limit in QAR
Mass50,000
Tamayuz150,000
Private250,000

1- Customers can transfer in multiple currency depending on the beneficiary Bank:

  • EGP: To all Bank Account beneficiaries in Egypt.
  • USD: Only to USD Bank Account

2- Transfer in USD will apply the following fees in addition to Direct remit fees of QAR 15:

  • 1% for Mass / Tamayuz & 0.5% for Private on the principle amount.
  • USD 2 as correspondent fees

Partnership with the most prominent Banks from above corridors has helped QIB to introduce this reliable and convenient service to fast track your transfers.