WoldRemit’s guaranteed low fees challenges the costly commissions of the big player that dominates this corridor
(PRWEB) July 31, 2012
WorldRemit, the leading online money transfer service, has expanded its online money transfer services to Ghanaians in mainland Europe. Diaspora members in 15 countries including UK, Canada, Australia, Netherlands, Germany, Italy and Spain will now be able to send money online to family and friends back home using a variety of payment methods including debit cards, credit cards and local payment methods.
WorldRemit is transforming the way money transfer is conducted. Traditionally migrants used to send money home through agent locations which meant withdrawing cash from a bank, taking time off to visit an agent and queuing up to hand over cash. And they used to pay hefty fees. With WorldRemit they can transfer funds from the comfort of their own home or office 24/7 for much lower fees.
Ghana is one of the largest recipients of international remittances in Africa. According to the Bank of Ghana, the value of remittances through formal channels was $1.79 billion in 2009. Accounting for 11% of GDP, diaspora remittances exceeded the official development assistance to Ghana.
A recent study for UK Department for the International Development says that the average cost of sending money to Ghana is as high as 7% of the send amount and that the cost of remittances accounts for about 0.8% of the country’s GDP. “WoldRemit’s guaranteed low fees challenges the costly commissions of the big player that dominates this corridor”, said Ismail Ahmed, CEO of WorldRemit.”
The service offers the widest range of payout options including instant cash pickup, bank deposits to any bank and airtime top-up and offers an unprecedented convenience to Ghanaian professionals who can transfer funds from the privacy their own home or office 24/7 at competitive prices.
WorldRemit uses a transparent system with clearly displayed and guaranteed exchange rates giving the sender the freedom to decide how much to send and the peace of mind that comes from knowing exactly how much will be received.
WorldRemit is an award-winning online platform enabling migrants to send remittances to family and friends in more than 100 countries using a variety of payment options including debit cards, credit cards and local payment methods. The service offers the most extensive range of pay-out options including instant cash pickup, bank deposits, transfers to mobile wallets, door-to-door delivery and airtime top-up.
WorldRemit is Authorised and Regulated by the Financial Services Authority under the Payment Service Regulations 2009 for the provision of payment services