Putting your cash in a shoe and driving over to Europe may have once seemed like the only viable way to get your hard-earned money into another country. Now FNB has announced that, in partnership with MoneyGram, it’s offering its customers the ability to send and receive money internationally through its app.
Before now, FNB customers would have had to call a banking representative or shlep into a physical branch or ATM to approve international payments. Now it can all be administrated via the FNB Banking app, which is conveniently located on iOS or Android devices.
Rely on that MoneyGram
“Our significant investment into integrating advanced technology into our platform-based business has allowed us to transform the Foreign Exchange market and the experience of all our individual and business clients in recent years, effectively empowering those clients to meet their currency needs, optimise their personal or business cashflows, and mitigate their risks, anywhere in the world,” says Jacques Celliers, FNB’s CEO.
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MoneyGram facilitates all remittance transfers, while FNB offers established digital channels. It is important to note that there’s a cap of R25,000 per transaction and R50,000 per month through the MoneyGram facility.
“Our data shows that a large percentage of FNB-initiated remittance payments are sent to Zimbabwe and Ghana. Irrespective of where you would like to send money, whether you’re a worker who needs to send money to your family in your home country or whether you would like to send a money gift to a friend abroad, this service enables clients to do so quickly and without hassle on the FNB App in just a few minutes,” says Anthony Grant, CEO of Foreign Exchange at FNB.
To send money to your boo overseas, simply head to your FNB app (hopefully you’re a customer already), log in, click on the Forex tab, click on Remittances, hit Send MoneyGram/Receive MoneyGram and follow the steps that follow.