Ecobank reiterates benefits of ‘Rapidtransfer’

People wait in line on February 16, 2011 in front of a branch of the pan-African bank Ecobank in Abidjan. The Ivorian offices of two international banks, French BNP Paribas and US Citibank, were closed of February 14 after the west African regional bank BCEAO warned banks they risked sanctions if they dealt with Laurent Gbagbo's disputed regime. Gbagbo threatened on February 15 to take legal action against foreign banks Citibank and BNP Paribas after they closed their offices in the country. AFP PHOTO / SIA KAMBOU (Photo credit should read SIA KAMBOU/AFP/Getty Images)

The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has called on Nigerians living abroad who wish to send money to their loved ones in the country particularly this yuletide season to do so through the Bank’s Rapidtransfer app.

Ecobank charges zero fees for all transfers done through the Rapidtransfer app up until 31st January, 2019.
“The Rapidtransfer removes all the bottlenecks, burden and inefficiencies usually associated with remittances. “The app provides simple and secure digital on-boarding where users can choose how and when funds are delivered to the intended beneficiary, with transparent foreign exchange rates prior to each transaction,” he was quoted to have said in a statement.

Furthermore, Akinwuntan said: “I wish to encourage our brothers and sisters living abroad who wish to send money to their relatives this season to do so through our Rapidtransfer app.

“This is a game changer in the way Nigerians can send money to their loved ones. They do not have to physically visit an agent. Rapidtransfer removes all of these issues and its standout affordability as we do not charge any fee for now.

“I wish to encourage them to sign up on this app and enjoy our seamless and cheap remittance service.”
The Rapidtransfer app is regarded as a game changer for remittances to Africa as it is designed to enhance remittances to Africa by drastically reducing cost, while also tackling the long, burdensome and inefficient processes Africans abroad face when sending money to their home countries.
Through the app users are able to send money instantly to and across 33 African countries.

For Nigerians in diaspora the app would enable them easily and instantly send money to any bank account in Nigeria; receivers also have the option of picking up cash at any Ecobank branch.
It is available in English, French, Spanish and Portuguese languages. Users can choose how and when funds are delivered to the intended beneficiary, with transparent foreign exchange rates prior to each transaction.

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