Union Bank, Ria Partner on Money Transfer Services

Emeka Emuwa, MD, Union Bank


UNION Bank is partnering with Ria Money Transfer to offer money transfer pay-out services across Nigeria. The new agreement allows Union Bank customers to receive remittances in local currency at Union Bank payout locations, which includes its branches nationwide.

Customers can have funds transferred directly to their bank accounts, while non-bank customers can collect remittances in cash through any payout location. In addition to providing a secure and economical service. Ria’s technology allows customers to receive remittances within minutes.

At a recent media briefing, Folorunsho Orimoloye, head, Alternate Channels, Union Bank, said, the bank is proud to partner with Ria, “as we are constantly seeking opportunities to make banking simpler and smarter for our customers.” With a network of approximately 314,000 locations spanning 144 countries, Ria is one of the largest money transfer services in the world. With this partnership, Union  will ensure that its customers have access to this worldwide network, thereby extending the options of quality remittance services it offers to all its  customers.

Juan Bianchi, chief executive officer and president, Ria, said, the company is pleased to partner with Union Bank and expand its reach in Nigeria, the number one remittance receiving country in Africa and top five receiving country globally. “Our secure and economical bank deposit and cash pay-out service with Union Bank now provides more choice to customers living in the diaspora that are seeking a reliable option to send remittances home to their loved ones.”

The World Bank reports said that Nigeria received five billion in remittances in 2015, making it the fifth largest receiving country for migrant remittances. Top countries sending to Nigeria include the United Kingdom and United States, where many Nigerians reside and Ria has a strong sending network in both countries, with customers in the United States also able to send money to Nigeria through its website www.riamoneytransfer.com.

—  Dec 12, 2016 @ 01:00 GMT


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