…customers in key
European countries can send money in minutes* directly to most bank accounts in
Nigeria
MoneyGram (NASDAQ: MGI), today announced it is the
first money transfer company to offer customers in France, Germany, Ireland,
Italy and Spain a way to send money to most personal Nigerian Naira bank
accounts within minutes at competitive exchange rates.
"This is a significant milestone for us. With the addition
of Nigeria, MoneyGram now offers bank account deposits through our network into
five of the world's largest remittance receive markets — Nigeria, China, India,
Mexico and the Philippines," says Herve Chomel, MoneyGram’s regional vice
president for Africa. "Account deposit is a fast and secure way to send and
receive funds between loved ones and we are proud to offer the service for our
customers in Europe and Nigeria."
Customers can send money to most of the personal accounts
held at banks that are members of the Nigeria Inter-Bank Settlement System
network including First Bank, UBA, Ecobank, Fidelity, and Zenith Bank from
MoneyGram agent locations in France, Germany, Ireland, Italy and Spain.
This marks an important innovation for the remittance
industry in Nigeria. By integrating into the Nigerian Inter-Bank Payment
System, MoneyGram customers are able to send money into most bank accounts in
Nigeria, almost in real time. Receivers do not have to undertake any action as
the funds are automatically deposited into their account and can be accessed
via ATM’s or online, without the constraint of a physical over-the-counter
visit.
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