Money Gram Set To Begin Outbound Money Transfer

One of the global
money transfer giants, Money Gram has concluded plans to kick-start its outbound money transfer services from Nigeria to over 200 countries.
There are indications that this service would commence next week. This latest move by Money Gram was aimed at alleviating the stress Nigerians face in sending funds abroad for family upkeep, schooling and other legally recognised developmental purposes.
This will align Nigeria with the best practice around the world in line with the country’s standing as Africa’s largest economy.
Central Bank of Nigeria (CBN) recently approved the three major Money Transfer Organisations (MTO’s) in Nigeria to engage in outbound service.
Money Gram thus becomes the 2nd operator after Western Union to operate outbound money transfer services from Nigeria. The Money Gram outbound service which will reinforce the well known money Gram “Receive and send Money in 10 minutes” brand promise.
According to a report, it is expected to lead to greater convenience and ease as customers would be able to access funds in majority of Money Gram’s location, through their partner banks.
Money Gram is offered through respected financial institution in Nigeria including Ecobank, UBA, First Bank, Access Bank, Sterling Bank, Fidelity Bank Skye Bank, Keystone Bank, Enterprise Bank, Mainstreet Bank, Diamond Bank and Wema Bank, among others.