Does Access Bank Do Moneygram: Nigeria’s first outbound money transfer service was introduced by Access Bank and MoneyGram. Through this partnership, the money transfer industry in Nigeria has taken a new turn, and Access Bank is the first MoneyGram partner to provide this service. Nigerians can send money overseas using any Access Bank branch or platform in Nigeria using the recently introduced MoneyGram outbound money transfer service, dubbed “Naija Sends.”
The money is received in the recipient nation’s currency. Victor Etuokwu, head of Access Banking’s personal banking division, made the following statement during the event: “We guarantee our consumers speed, service, and security.” This indicates that we would provide them with this service in a timely, efficient manner that requires little to no legal documents; the service would also be provided in a secure setting.
Put differently, there would be no mistakes and no fraud. Etuokwu states that in order for individuals at the bottom of the pyramid who conduct these kinds of cross-border transactions to be able to view this as an enabler for their business, there have been discussions around the need to raise the cap. A low threshold will result in the exclusion of certain microbusiness owners. Therefore, it is encouraging that the regulator is open to suggestions that could expand the economy.
Ola Isola, head of Access Bank’s franchise group, also spoke at the event. She said, “I would call on all Nigerians to see this as a platform to communicate with their loved ones and business partners throughout the world.” This makes it a safe and secure platform for making international commercial purchases, medical payments, or payments for a child attending school.
The individuals at the base of the pyramid are familiar with this platform. When you contrast the prices with those of the other platforms, they are reasonable. However, since unpaid service is not sustainable, we must constantly acknowledge it.
Kemi Okusanya, MoneyGram’s regional manager for Anglophone West Africa, commented on the debut, saying, “The launch of “Naija Sends” has further broadened the brand’s reach and service in Nigeria.” In her remarks, she stated that “Over the last two decades, MoneyGram has handled over 15 million transactions in Nigeria, enabling safe, convenient, and dependable transfer of payments from Nigerians in Diaspora to their loved ones.”
As Africa’s largest economy with over 10 million migrants, we are pleased to be able to provide this service in Nigeria now. Nigerians can now use this service to send money from Nigeria to nations such as the United Kingdom and the United States. Nigerians can now send money in naira to recipients in the United Kingdom or the United States, who would receive it in pounds or dollars.
The outbound money transfer service enables Nigerians to send money in naira to over 200 countries across the world by visiting any Access Bank office in Nigeria or other African countries where Access Bank operates.
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