Digital money transfer service WorldRemit has introduced overseas remittances to mobile money accounts in Malawi. Users of the WorldRemit App or website will be able to securely send money transfers to any Airtel Money account in the country.
This comes as a relief to the Malawi Diaspora which has relied on expensinve money transfer services like Moneygram and Western Union
There are now more than 2.5 million mobile money accounts in Malawi – a country with low levels of banking penetration. The new solution means friends and families of people transferring money from abroad no longer need to make long journeys to pick up cash from money transfer agents.
WorldRemit said it is the leading sender of remittances to mobile money accounts, partnering with 34 services in 26 countries. The firm processes a total of 450,000 money transfers every month, with over half of its remittances to Africa now received via mobile money accounts.
The advantages to the Diaspora of using Worldremit are:
- Low fees displayed up-front, Guaranteed exchange rates.
- Instant transfer to many countries.Send & receive notifications by SMS and email.
- 24/7 service – no agents to visit.Available on computer, smartphone & tablet.
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