Western Union ties up with IOB

As per the agreement, money transferred through Western Union would be encashed at 154 IOB branches across India.

Western Union had last week entered into a similar arrangement with Punjab National Bank. The US-based company forged both tie-ups through their direct agent Weizmann Forex.

"Our strategy of teaming up with institutions such as IOB shows that Western Union and its agents can offer a reliable money transfer service to Indians abroad," said Anil Kapur, Western Union regional vice president (South Asia).