The management of MoneyGram International (MGI) yesterday launched a new banking program called, “Send to Account.” The exercise, according to the MoneyGram, is an effort to ease the difficulties customers encounter while sending remittances to their relatives and friends in and out of Liberia.
The “Send to Account” program aims at offering Liberians more digital transfer options, while also expanding the company’s digital growth, the entity has said. The new service is meant to enable receipt of any amount of money sent via MoneyGram from a relative abroad directly into the bank account of the recipient. It can also be accessed in ten minutes either in person, online or through an automated teller machine (ATM) card. The service fee for the “Send to Account” program is US$5, no matter the amount involved.
“We see a potential in the increasing adoption of banking services in Liberia and therefore want to drive financial inclusion by offering our consumers more digital money transfer options,” said Patrick Appiah, MoneyGram’s Regional Director for West Africa.
Appiah, who launched the program, told journalists that the new account deposit service or “Send to Account” between Liberia and Ghana is part of MoneyGram’s overall strategy to accelerate its digital growth by providing to the customers convenient and accessible technology-based financial services.
“We are happy to bring to Liberia this new product, which is the MoneyGram’s cash-to-account specifically in Ghana, though we have the product in other countries where customers can deposit money into their relatives’ or family’s bank accounts.”
As head of MoneyGram in West Africa, Mr. Appiah expressed gratitude for the introduction of the new service that will improve their customers’ banking transactions.
“We are also excited that a leading global brand like the MoneyGram has successfully integrated its instant pay platform to offer remittances to Liberians who want to send money directly into any bank account in Ghana. So, today you can even send money from Liberia directly to bank account in Nigeria and other countries where MoneyGram is established. This, we have been doing since 2015,” Appiah said.
He said that all the sender needs is the recipient’s first and last names, account number and bank name, where the person will receive their cash. He further said that the transaction only takes ten minutes for the person to receive the money in their account followed by a short message service (SMS) or Email notification.
He said, “This roll-out further demonstrates MoneyGram’s commitment to make branchless banking a reality by activating multiple service channels in every country in which we operate and it is really an exciting product to be launched in this market.”
About MoneyGram International
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.