FNB's cross-border payments to Zimbabwe increase

FNB's cross-border payments to Zimbabwe increase
Simnikiwe Mzekandaba
By Simnikiwe Mzekandaba, IT in government editor
, 01 Apr 2015
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Following the expansion of its money transfer service network in Zimbabwe - FNB's cross-border transactions recorded a 102% year-on-year increase in the last financial year, the bank said.

The South African bank has expanded its money transfer service to a wider network of OK stores in the southern African nation.

According to FNB the service is now available in 33 OK stores, and is being rolled out to even more outlets.

"With so many Zimbabweans reliant on receiving money from their family members who work in South Africa, the ease and convenience of FNB's money transfer service is evident in the growth in sends and repeat usage by customers," said Leonora Van der Plas, head of cross-border remittances at FNB.

"Access via electronic channels is an important strategic imperative for FNB. This increases the service options that customers can perform instantly, wherever they are, without having to travel or take time off from work, especially in the case of emergencies," Van der Plas added.

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Elsewhere in Africa FNB's money transfer service has also been launched in Mozambique. Recipients can collect funds at any of the 15 branches in FNB Mozambique.

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