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National Bank of Malawi partners Western Union

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By Mc Donald Chapalapata, a Contributor

National Bank of Malawi (NBM) plc has entered into a partnership with International Money Transfer Institution, Western Union, in a move that will ease cross-border and cross-currency money transfers among its customers.

For example customers will be able to receive up to $7,500 through the platform.

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NBM Head of Treasury and Investment Banking Harry Mukaka said the partnership will help customers to send and receive money with speed, ease and reliability.

“The specialist money transfer service normally targets small amount transfers from one person in one country to another person in another country. This is the ideal platform that our families and relations living outside Malawi can use to transfer money to us in Malawi with ease and speed.

“This will also help in reaching out to the unbanked population as those without accounts with the bank can also receive their money through the platform. NBM also stands to benefit from the partnership as the interactions with non-banked customers, who are regular recipients of money, increases the potential to open accounts with the Bank,” Mukaka said.

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Reacting to the news, United Kingdom based Malawian Chisomo Phiri hailed the partnership saying it has simplified how she will be sending money to her relatives in the country.

NBM plc is also in partnership with another international money transfer institution, MoneyGram.

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