Johannesburg — Online money transfer company, WorldRemit, is guaranteeing its customers US dollars in cash for collection at Steward Bank branches across Zimbabwe.
BY OWN CORRESPONDENT
WorldRemit has been operating in Zimbabwe since 2010, and is taking the unprecedented step to source cash through its partner Steward Bank.
Zimbabwean customers can transfer funds from countries around the world, including the UK, Australia, Canada, US and Norway, using WorldRemit’s convenient, fast online service. Recipients will be able to pick their cash from Steward Bank branches in Harare, Bulawayo, Mutare, Masvingo and Gweru.
The move is a response to increasing demand from customers for cash pick-up services ahead of the festive season.
WorldRemit CEO Ismail Ahmed said, “We know that remittances are a mainstay for families throughout Zimbabwe and they are especially important as Christmas approaches. Our customers trust us to deliver their hard-earned funds quickly and reliably, which is why we are taking this unprecedented step to source cash.”
Steward Bank CEO, Lance Mambondiani said, “Steward Bank is excited at this initiative by WorldRemit which is aimed at increasing the convenience for our transacting customers.
“Diaspora remittances play a significant role in the development of our economy and initiatives such as these have a significant impact in promoting diaspora remittances.”
Customers who send money through WorldRemit can expect the cash to become available within minutes in Steward Bank branches.
Although the guarantee initially only applies to Steward Bank, it is expected that it will soon extend to other WorldRemit pay-out partners in the country.
Since starting its operations in Zimbabwe, WorldRemit has completed over 1,7 million transactions from the Diaspora sending money home and has built up a loyal customer base, attracted by its convenient online, lower-cost model.