Fina Bank has expanded the "Moneygram”, money transfer service to upcountry. The internationally acclaimed service allows customers to send and receive money anywhere across the world. It is now available to customers in Gisenyi in the Western province.

"We are working hard to improve services offered to our customers.  It makes economic sense to use this service as it is cheaper compared to other service providers,” Eugene Murigande, the Head of Consumer banking told Business Times on Thursday in an interview.

The service charge ranges between Rwf6,500 and Rwf27,500.  Murigande also added that the move is part of Fina’s repositioning strategy in Rwanda after acquiring   Africa Intercontinental bank and its branches in 2004.

In a bid to offer better services, Murigade said, the bank has opened a well facilitated mini-branch in Kigali specifically for Moneygram.

He also mentioned that the bank would be providing the service in Changugu, also in the Western province boarding the Democratic Republic of Congo (DRC). 

"We are expanding to also serve customers from neighbouring countries,” he said, pointing out that the service has also attracted customers from Congo and Burundi.

According to Murigande, given Rwanda’s big Diaspora all over the world, the service makes it convenient for them to send money back using the regional bank.

"We are trying to provide the best service possible and expand our market share,” he said.

The Kenyan based Small and Medium Enterprise (SME) bank also has operates in Uganda.  In Rwanda it is currently operating five branches.

Ends