KCB and Western Union launch account-based money transfer service

KCB and Western Union launch account-based money transfer serviceKCB customers will now be able to direct Western Union transfers in to their bank accounts. (Image source: Reena Mahtani/Flickr)Western Union and KCB Group have announced the launch of an account-based money transfer service (ABMT) in East Africa, allowing customers to send and receive money from more than 200 countries around the world

KCB customers in Kenya, Tanzania, Uganda, South Sudan, Rwanda and Burundi can now direct their Western Union money transfers into their bank accounts via online and mobile phone banking as well as through call centres and retail branches.

ABMT allows recipients to move funds directly into their KCB accounts once they have been sent from any of Western Union’s 510,000 agent locations worldwide.

Richard Malcolm, regional vice-president – Southern and East Africa at Western Union said, “Western Union is pleased to strengthen this mutually productive and beneficial relationship with the inclusion of banking channels that are customer-centric and technologically advanced. This partnership with KCB demonstrates Western Union’s continual commitment to providing reliable and convenient world-class money transfer services in addition to expanding our user base.”

KCB has been offering Western Union services in Kenya since 2005, with its services also being introduced in its banks across Tanzania, Uganda, South Sudan, Rwanda and Burundi.

KCB group CEO Joshua Oigara said, “Our customers, at home and abroad, now have three options to choose from that allows them to receive money from account-based money transfer services (ABMT). The money transfer services can be done through the contact centre, mobile banking, internet banking and at the teller counter enabling our customers to enjoy faster services, extended banking hours and convenience.

“In addition, our focus for our customers this year is to provide seamless and value-adding banking and financial services in the markets in which we operate. As a bank we do believe that leveraging on partnerships is the way to go in facilitating access to banking services for both banked and non-banked customers taking financial inclusion to the next level,” he added.

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