25/06/2018 07:26 AST

RakBank, a leading bank in the UAE, has partnered with Xpress Money, a major money transfer brand, to offer convenient money transfer services to RakBank customers through the bank’s remittance service RAKMoneyTransfer (RMT).

The bank’s money remittance service is available in five countries including India, Pakistan, Philippines, Sri Lanka and Nepal. By virtue of this partnership with Xpress Money, RakBank has expanded its RMT service to 20 new countries with a total reach of 25 countries worldwide. It will also allow customers to make hassle-free money transfers with greater convenience and maximum security.

RAKMoneyTransfer service has been specially designed to meet the remittance needs of customers who can conveniently remit money from their RakBank Account or Credit Card to the aforementioned countries.

In addition, RMT offers another convenient choice of cash pickup options through 85,000 Xpress Money agent locations, out of the 200,000 locations that Xpress Money has globally. RMT also provides customers with highly competitive exchange rates to ensure the most convenient, secure and cost-effective transfer solution that can be completed at just the click of a button using RakBank’s Digital Banking platform and through all of the Bank’s branches.

Peter England, RakBank CEO, said: “In line with the Bank’s strategy to offer customers a seamless banking experience, we are currently focusing on aligning our offering through strategic partnerships to increase the Bank’s remittance footprint. We are delighted to have partnered with Xpress Money to extend our RMT service into new territories with the objective of offering the expat community in the UAE the ability to immediately remit money back home. Therefore the partnership will enable our customers to make secure, faster and convenient money transfers to 20 countries.”

Sudhesh Giriyan, COO, Xpress Money, said: “It has been a constant endeavour of Xpress Money to make money transfers easily accessible and affordable to customers globally. Through our global network of partners in 165 countries, we offer convenient money transfer services, with multiple pay-in and pay-out options, suitable to our customers’ needs.

“This collaboration gives us the opportunity to offer digital solutions through RakBank, elevating the level of their customers’ convenience as they can now send money anytime, to 20 new countries. We are happy to have partnered with a brand that is also working towards a similar objective that benefits the end customer.”


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