Union Bank of Nigeria Plc has partnered Ria Money Transfer to offer money transfer payout services across Nigeria.
The agreement allows Union Bank customers to receive remittances in local currency at Union Bank payout locations, which include its branches nationwide, according to a statement by the lender.
Customers could have funds transferred directly to their bank accounts, while non-bank customers could collect remittances in cash through any payout location, it stated.
It also said, in addition to providing a secure and economical service, Ria’s technology would allow customers to receive remittances within minutes.
The Union Bank’s Head of Alternate Channels, Folorunsho Orimoloye, was quoted to have said, “Union Bank is proud to partner Ria as we are constantly seeking opportunities to make banking simpler and smarter for our customers.”
“With a network of approximately 314,000 locations, spanning 144 countries, Ria is one of the largest money transfer services in the world. With this partnership, we will ensure that our customers have access to this worldwide network, thereby extending the options of quality remittance services that Union Bank offers to all our customers.
The Chief Executive Officer and President, Ria, Juan Bianchi, said, “Ria is pleased to partner Union Bank and expand our reach in Nigeria, the number one remittance receiving country in Africa and top five receiving country globally.”