Affordable transfer rates

Millions of Zimbabweans living in South Africa have received a boost after First National Bank launched a new international money transfer service with Moneygram.

“The 10-minute MoneyGram service is offered at affordable rates. For example, sending R2,000 to Zimbabwe would today cost the sender approximately R162 and a maximum of two percent on the rates,” said Chief Executive Officer of FNB Business Banking, Jacques Celliers, in a statement.

Sending an equivalent amount of money through informal operators and other service providers would cost R400. The offer also makes it possible for FNB clients in South Africa to receive money from Zimbabwe, among other countries.

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