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WorldRemit launches low-cost money transfer service from SA to Zimbabwe

by Staff reporter
31 Jan 2019 at 14:29hrs | Views
Leading digital money transfer service WorldRemit has launched low-cost online money transfers from South Africa to Zimbabwe.

Using the WorldRemit app or website, Zimbabweans living in South Africa can now send money home with a few taps directly from their phones. Senders can choose from a wide variety of convenient payout options including cash pick up, mobile money and bank transfer.

WorldRemit is now one of the only digital money transfer services sending money from South Africa. By opening up this service, WorldRemit will introduce some of the cheapest fees available on the market to send money to Zimbabwe - often under half of the average cost. To encourage more people to try the service for themselves, WorldRemit is also offering customers zero fees on their first transfer if they use the promo code FREE when making payment. For more details, visit the WorldRemit website: www.worldremit.com/en/zimbabwe.

According to the World Bank, South Africa is the most expensive G20 country to send money from. The average cost of sending $200 from South Africa to Zimbabwe is nearly 14% - double the global average.

WorldRemit offers instant cash pickup at over 250 locations in rural and urban areas of Zimbabwe - more than any other remittance service. Guaranteed cash is available through WorldRemit partners such as Steward Bank, CBZ, Kaah Express, Quest Financial Services, and ZB Bank.

Currently, 68% of remittances from South Africa are sent through informal channels such as unregistered courier services ("malaicha") and buses crossing the border. WorldRemit's low fees and exchange rates are shown up-front and customers can send money at anytime from anywhere to the widest network of over 250 cash pickup locations across rural and urban areas of Zimbabwe.

Pardon Mujakachi, Country Director for Zimbabwe and Head of South Africa at WorldRemit comments: "We're delighted to launch our low-cost online money transfer service from South Africa, allowing Zimbabweans to send vital funds home to their loved ones directly from their phones. Sending from your card or bank account in just a few taps on your phone takes away the stress and risks of having to travel to agents carrying cash or meet with couriers and pay expensive fees to send money home.

"To ensure there are no wasted journeys and that senders know where their money is at each step, we send notifications to both the sender and recipient when the money is sent and ready for collection. We believe this is one of the reasons that over 125,000 people worldwide have given WorldRemit a 5 star review, but to give new customers an added incentive to try our service for themselves, we're offering zero fees on their first transfer with the code FREE."

WorldRemit currently operates in over 40 African countries. Its major send markets to Zimbabwe include the UK, USA, Australia - and now South Africa. The company recently opened a new office in Johannesburg, as it targets the growth of its inter-Africa business as well as the expansion of its partner network.

Source - agencies

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