Bank targets diaspora in new money transfer deal
ABC Bank group managing director Mr Shamaz Savani at a past event. PHOTO | DIANA NGILA | FILE
What you need to know:
- The service, also known as Bank or Business-to-Customer (B2C) transfer, allows movement of funds using the bank’s Internet banking platform.
- The bank has been offering a limited money transfer service that allows customers to only deposit money into their accounts via M-Pesa.
ABC Bank customers in the diaspora can now transfer money from their accounts to any M-Pesa account in Kenya, following the launch of the Account-to-M-Pesa money transfer service.
The service, also known as Bank or Business-to-Customer (B2C) transfer, allows movement of funds using the bank’s Internet banking platform.
“This service gives customers extra convenience and peace of mind. They can comfortably make payments directly to suppliers or service providers, as well as support their families from anywhere in the world at any time,” said the bank’s group managing director, Mr Shamaz Savani.
The bank has been offering a limited money transfer service that allows customers to only deposit money into their accounts via M-Pesa.
The new service now completes the cycle of such deals, as customers will be able to transfer funds from their accounts to M-Pesa mobile wallets. The service is offered in partnership with Safaricom.
