First Bank introduces new money transfer service

First Bank of Nigeria Limited has partnered with Trans-Fast Remittance LLC, a global money transfer company and owner of Trans-Fast money transfer brand, to provide money transfer services to families and friends through the over 700 branches of the bank in Nigeria.

The bank said the development was part of its bid to strengthen its dominance of international money transfer and give its customers wide range of options.

According to a statement from the bank on Friday, the new partnership, brings to four the number of international money transfer platforms offered by the Bank. Others include Western Union money transfer, MoneyGram and Ria money transfer.

The new agreement signed in Lagos between executives of First Bank and Trans-Fast Remittance, the money transfer company, which has over 20 years’ experience in money transfer and operations in over 90 countries will make its over 200,000 global network available for First Bank customers to transfer money directly via the internet.

The company will also allow beneficiaries of international money transfer get money directly into their accounts in any currency through any of the First Bank branches nationwide.

The statement quoted the Head, Marketing and Corporate Communications, First Bank, Mrs. Folake Ani-Mumuney, as saying that with the Trans-Fast platform, customers would have the options of sending money directly to the receivers account, online transfers as well as cash pick-up at any of the bank’s branches.

 “Money Transfer can be done in Euro, GBP, USD or NGN, while third party transfers can also be done to other bank accounts”, she added.

The CEO of Trans-Fast Remittance, LLC, Mr. Samish Kumar,  said the partnership with First Bank joined two industry leaders with mutually complimentary qualities that would enhance the quality of services provided to Nigerian remitters around the world.


Source: Punch