Abound: Streamlining Cross-Border Money Management for NRIs

For over 30 million Indians living abroad, managing finances across borders is often more complex than it should be. Whether it's sending money home to family, paying bills in India, or planning for long-term investments, NRIs frequently juggle high fees, slow transactions, and limited transparency from traditional banking channels.

Abound, a fintech platform backed by the Times of India Group, is changing this reality by offering NRIs a single, seamless solution for cross-border money management bringing together speed, transparency, and rewards in one place.

Tackling the Pain Points of NRI Remittances

Every year, India receives more than $125 billion in remittances (World Bank, 2024), making it the top recipient globally. Yet the process remains riddled with inefficiencies:

• High Transfer Fees: Traditional banks often charge between $20-$45 per transaction, in addition to poor USD-INR exchange rates.
  
  
• Uncertain Timelines: Cross-border transfers can take up to 5 business days, leaving families waiting during emergencies.
  
  
• Hidden Charges: From exchange rate markups to receiving bank deductions, many NRIs end up losing hundreds of dollars annually.

Abound addresses these gaps with transparent pricing, real-time tracking, and partnerships with over 130 Indian banks including HDFC, ICICI, and Axis Bank.

What Makes Abound Different

1. Transparent & Competitive Exchange Rates
   Abound guarantees best-in-class FX rates with no hidden markups. Every customer knows exactly how much their recipient in India will receive-down to the last rupee.
   
   
2. Fast & Secure Transfers
   Using advanced encryption, Plaid-powered integrations, and compliance with both U.S. and Indian regulations, Abound ensures funds arrive 2x faster than traditional methods while meeting the highest security standards.
   
   
3. Seamless Bill Payments
   Beyond remittances, Abound allows NRIs to directly pay utility bills in India-electricity, gas, water, and more-without extra charges. This gives families back home financial stability and independence.
   
   
4. Rewards & Cashback
   With partnerships across 4,000+ Indian grocery stores and merchants, NRIs can earn cashback on transfers and purchases, turning routine transactions into savings opportunities.

Designed Around the NRI Lifestyle

The modern NRI lifestyle demands flexibility and control. Abound empowers users to:

• Support Family Needs: Send funds instantly during emergencies, from tuition fees to medical expenses.
  
  
• Stay Compliant: Manage remittances within FEMA and IRS regulations, with built-in support for documentation.
  
  
• Track Everything in Real Time: Transfers, bill payments, and rewards are visible in-app, reducing the anxiety around cross-border transactions.

A Vision for the Future

Abound is not just about remittances it's about helping NRIs live a borderless financial life. With products built for convenience, compliance, and cost efficiency, Abound is positioning itself as the go-to financial platform for the Indian diaspora in the U.S.

As India's NRI community continues to grow and contribute significantly to both the Indian and global economy, solutions like Abound provide the infrastructure for a smoother, more transparent financial journey.
Final Word

For NRIs, managing money across borders no longer needs to be complicated, slow, or expensive. With Abound, sending money to India, paying bills, and staying financially connected to loved ones has become secure, transparent, and rewarding.

Start your transfer today with Abound and experience the difference.

Disclaimer: The information provided on the Website does not constitute investment advice, financial advice, trading advice, or any other form of advice, and you should not interpret any of the financial content as such. Please conduct your own due diligence and consult with a financial advisor before making any investment decisions. Midday does not endorse or promote any such activities, and you access them at your own risk, fully understanding the monetary and legal consequences involved. Midday shall not be held responsible for any losses you may incur as a result of using any such apps or websites.