NMB Bank has partnered with global money transfer agents World Remit and Small World Financial Services to provide further options for Zimbabweans wanting to receive money from other countries.
The bank has been a MoneyGram agent for many years. It is now also a Word Remit and Small World agent. As from today (Friday June 1), anyone receiving money from World Remit or Small World will be able to collect their money from any NMB branch countrywide.
The money will be paid to them in cash in United States dollars or, if they prefer, in another international currency, such as the rand, pound sterling or euro. The service is available to anyone, NMB customers and non-customers alike.
World Remit is a global online remittance service based in the United Kingdom (UK), with its African office in South Africa. It allows people to send money to friends and family abroad using a computer, smartphone or tablet. Once the money has been sent, it becomes immediately available in Zimbabwe.
Small World, which is also UK-based, with its office for Africa in Kenya, also enables people to send money abroad instantly. It has partnerships throughout the world.
NMB Bank international banking head Crispen Mukamba said the new partnerships were intended to increase the options people had for receiving money from relatives and friends in other countries.
“We have already put in place strategies to overcome any challenges that might be caused by the cash situation in the country.
“The facility is prefunded, so we can guarantee cash for anyone who comes to any of our branches to collect funds sent via World Remit or Small World,” Mr Mukamba said.
He added that these partnerships with World Remit and Small World worked well with NMB Bank’s financial inclusion drive.
“We will continue to introduce products that speak to this market to give them a full range of banking services,” Mr Mukamba said.
Money received via World Remit or Small World at NMB Bank can be received as cash or be transferred into an NMB customer’s bank account as a foreign currency deposit for later use when, for instance, travelling abroad.