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Islamabad, April 29, 2013 (PPI-OT): Xpress Money, the most dependable global money transfer brand, has partnered with KASB Bank to offer instant Inter-Bank Fund Transfer (IBFT) remittance service across 17 banks in Pakistan with a combined nationwide network of over 6000 locations. With this pioneering initiative, Xpress Money through KASB Bank, will be the first to provide the IBFT service instantly to customers, which until now took atleast 24 hours to get credited.
By virtue of being the leader in the remittance industry in Pakistan, Xpress Money is constantly ideating on innovative money transfer services; with consumer convenience and satisfaction, being their sole objective. This strategic tie-up with KASB Bank will empower Xpress Money’s customers to credit money instantly into the accounts of their loved ones back home within seconds of the transaction.
The remitter simply needs to visit any of Xpress Money’s 170,000 agent locations across the globe and provide the beneficiary’s Account Title and Account Number, upon which the agent will be able to pull up all related details of the account holder and the transfer will be done immediately. Back home in Pakistan, the beneficiary’s account will reflect an immediate credit once the transaction is through, and they can then enjoy a hassle free withdrawal anytime from an ATM. This makes it the most efficient way to receive money, where a visit to an agent location is not necessary.
With attributes like convenience, speed and accuracy, instant IBFT is an innovative proposition for expatriates and is sure to become the most preferred way to transfer money to Pakistan.
“Remittance is one of the most important factors of our country’s socio-economic development making it imperative for money transfer companies such as ours to offer an instant, safe and secure means of money transfer service available to our customers. With instant IBFT remittance service we will take our consumer convenience philosophy to the next level as we will empower our Pakistani expats to gain full control of their transactions.
We are proud that we are the first and only money transfer service in the country to introduce the instant IBFT remittance service in partnership with KASB Bank. We look forward to a long and healthy association with them, said Mr. Rizwan Hamdani, Country Manager, Xpress Money.
“Instant Inter-Bank Fund Transfer remittance service offers convenience and real time funds transfer which will discourage the use of informal channels of Hawala and Hundi. Further, it supports the initiative of PRI to streamline the routing of money entering the country through legal channel. It will revolutionized the remittance industry and will play a pivotal role in realizing the vision of the Pakistan Remittance Initiative of generating larger inflows of home remittances to Pakistan, said Mr. Waqar A Khan, Group Executive Operations and GTS, KASB Bank.
For more information, Contact:
KASB Bank
Business and Finance Center,
Ground Floor, I. I. Chundrigar Road,
Karachi
UAN +92 (21) – 111-555-666
Phone +92 (21) – 32446005-10, +92 (21) – 32446772-77
FAX +92 (21) – 32446781