Partnership with third largest money transfer company in the world to benefit customers across all 10 regions in Ghana
GCB Bank Ltd (GCB), Ghana’s largest indigenous financial institution and Ria Money Transfer (“Ria”), the third largest money transfer company in the world, have announced a partnership to provide inbound remittance services throughout Ghana.
The new agreement allows GCB customers to receive remittances in local currency at GCB’s 157 branches nationwide. Account holders can have funds deposited directly into their bank account, while non-bank customers can collect remittances in cash. In addition to providing a secure and economical service, Ria’s technology allows customers to receive rapid remittance payout within minutes.
“With an expertise in the inbound remittance service through the largest network of 157 branches locally, this agreement with global brand Ria well-positions GCB as the leading partner in the money transfer business in Ghana,” says Mr. Simon Dornoo, Managing Director of GCB. “Ria’s global network will afford GCB the opportunity to mobilise remittances from Ghanaians in the diaspora for their relatives at home.”
“Our agreement with GCB Bank Ltd gives more choice to Ghanaians and others living abroad, to send money home to their family and friends,” says Ria’s President and CEO, Juan Bianchi. “This partnership is also aligned with Ria’s vision to improve financial inclusion worldwide. GCB’s branch spread will allow more affordable remittances to flow in a fast and secure way to people in harder to reach places. We welcome this alliance with GCB.”
The World Bank estimates that Ghana received $126 million in remittances in 2014, while top sending countries to Ghana include the United States and United Kingdom, where many Ghanaians reside. Ria has a strong sending network in both sending countries and customers can send money to Ghana online from the US at www.riamoneytransfer.com.
About GCB Bank Ltd:
GCB Bank Ltd. is an internationally recognized domestic brand with over 60 years experience in the financial services sector and a commitment to superior service and best practice. Its network of 157 branches and 20 agencies in the nook and cranny of the country continues to make GCB a household name for Ghanaians both at home and abroad. Despite its wide branch network, an investment in a strong ICT platform ensures customer satisfaction right across its business channels which include over 240 ATMs and POS devices.
About Ria:
Ria is a global leader in money remittances and is a recognized benchmark in both quality and service. Ria initiates transfers through a network of sending agents and company-owned stores located throughout North America, Latin America, Europe and Asia-Pacific as well as online from the United States at www.riamoneytransfer.com
Ria’s current global network spans 147 countries with services in over 272,000 locations. Ria is steadfast in its commitment to customers and remains ingrained within the communities in which they live. For more information visit www.riafinancial.com and www.riamoneytransfer.com
Ria is a subsidiary of Euronet Worldwide, Inc. (Nasdaq: EEFT), a worldwide leader in processing secure electronic financial transactions. Through three business segments – Electronic Financial Transactions (EFT), epay Prepaid Products and Money Transfer – Euronet offers a diverse portfolio of electronic payment alternatives to customers in approximately 165 countries. In addition to global money transfer services, Euronet's product portfolio includes comprehensive ATM services, point-of-sale processing, card outsourcing services, prepaid mobile airtime, other prepaid content and mobile operator solutions.