Bank of Kigali launches money transfer service

Rwanda’s biggest bank by assets, Bank of Kigali (BK) ,has entered into a partnership with Xpress Money, the world’s fastest growing instant money transfer brands. The partnership will enable the bank’s clients to transfer and receive money not only in the banks’ 56 branches countrywide, but will also access the services worldwide. The bank’s Broad of Directors Chairman, Lado Gurgenidze, hailed the move saying it will go a long way in making the bank the market leader. “We are pleased with this collaboration as it will provide our customers with more channels to transfer and receive money across the globe quickly and securely,” he said in a statement.He noted that remittances to Rwanda have been increasing over the years, which signals confidence in the economy.The bank’s Chief Executive Officer, James Gatera, said that the partnership would leverage the increasing level of remittances the country as well as in the bank’s branches. He added that the partnership brings an agent network and Xpress Money’s growing footprint to further facilitate money transfer within the country at affordable rates.The vice president of Xpress Money, Sudhesh Giriyan, hailed the collaboration saying that his company comes with unique features.“Unlike other money transfer services, there will be no fee levied on receipt of funds. In addition, SMS alerts are sent out to senders upon collection by the beneficiary. The service also offers full refunds upon cancellation,” said Aaditya Venkatesh, the company`s Relationship Manager for Eastern Peninsular Africa.Giriyan revealed that Xpress Money operates in more than 150 countries in five continents across 170,000 agent locations in the world.With the partnership, Bank of Kigali customers will, with time, be able to enjoy online money transfer, have ATM withdrawals as well as receive cash direct from their accounts or mobile phone. They will also have access to the Xpress Money Loyalty card, thus enjoying a variety of benefits.

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Bank of Kigali launches money transfer service