Canara Bank has signed a Memorandum of Understanding (MoU) with Deutsche Bank for the use of FX4Cash - a cross-currency payments solution offered by the foreign bank. FX4Cash allows fast and reliable execution of cross-currency payments made through leading client access channels including SWIFT, on-line and host-to-host channels, in over 125 currencies via wire transfer, cheque and ACH transfers - across more than 160 countries.
With the use of Deutsche Bank’s FX4Cash, Canara Bank will get permission to access full suite of solutions to support its global cross-currency payable and receivable flows.
As on June 30, 2014; Canara Bank has 5,217 branches located across India and a large correspondent banking network overseas.
