FBNBank partners Remitly to ease money transfer
FBNBank Ghana and Remitly Money Transfer have announced a partnership that will make it easier for residents of Ghana to receive international money transfers from over 145 countries worldwide, including 40 African nations.
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The partnership will afford the diaspora community the opportunity to transfer money to their families and friends back home in Ghana through FBNBank Ghana.
A release issued in Accra described Remitly Money Transfer as a digital based remittance service, and noted that the partnership with FBNBank would allow beneficiaries to receive remittances via cash pick-up at any of the 25 networked FBNBank branches and agencies across Ghana.
“It is an affordable, reliable and fast way to send money to Ghana and the service it offers is estimated to help millions of Ghanaians to meet financial commitments and support families that depend heavily on these remittances. “
This partnership is also expected to promote digital remittances in Ghana while making more people financially included,” the release said.
It said FBNBank, with its network of branches and passionate teams across the country, is committed to innovating its digital products to provide convenience and ease of banking for its customers, adding that; “The collaboration with Remitly, therefore, supports FBNBank’s dedication to innovation and increasing financial inclusion.”
Money transfer
The Managing Director of FBNBank, Victor Y. Asante, said; “the partnership with Remitly Money Transfer will support the bank’s agenda of facilitating transfer of money to every resident in the country in a seamless process.
The collaboration will position FBNBank as the leading partner in the money transfer business in Ghana and aid the Bank’s efforts to mobilise remittances from Ghanaians in the diaspora for beneficiaries back in Ghana.”
“As a bank, we continue to develop these products because we remain committed to delivering the gold standard of value and excellence to our customers by putting their needs first.
This partnership rightly addresses that Customer Promise we have made and are committed to delivering on,” he said.
Money laundering
Regarding the benefits, the release said customers and users of Remitly money transfer at FBNBank would benefit from reducing the risks of money laundering and advancing responsible financial inclusion of migrants and their beneficiaries, accelerating the transformation of rural households and increased convenience for and empowerment of users.
“According to Statista, an online platform specialising in market and consumer data, in 2022, personal remittances received covered 6.1 per cent of the country’s Gross Domestic Product (GDP) and this has helped reduce poverty, enabled capital imports and improved living conditions.
FBNBank has in its 27 years of operating in Ghana remained focused on putting its customers and communities first,” it said.