NSB partners with Ria Money Transfer to further push inward remittances
State-owned National Savings Bank (NSB) yesterday announced its partnership with Ria Money Transfer, a global money transfer service, to allow improved facilitation of foreign remittances into the country.
The partnership with Ria Money Transfer, that has led to the setting up of NSB’S newest service ‘NSB U-trust’, will pave the way for customers to remit their foreign earnings in a secure, speedy, convenient manner at low cost.
Considered as one of the largest money transfer service in the world, Ria, which was first set up in New York City in 1987, has a worldwide network of 447,000 locations in 160 countries.
With Ria, NSB U-trust currently allows customers to forward inward remittances from North America, Canada, Latin American countries, Europe, the Middle East and South East Asian countries, including Australia and India.
“The bank has been able to reach several new and untapped remittance markets in the world and thereby ensure the customers with the convenience of receiving money sent by their loved ones directly to their NSB savings accounts from those countries,” said NSB CEO/GM Ajith Peiris while addressing the launch event held in Colombo yesterday.
He shared that funds transferred to NSB U-trust can be cashed at any of the bank’s 259 branches located islandwide by producing the personal identification number issued by the
RIA Money Transfer network and National Identity Card.
Peiris assured the service is safe and trustworthy, as the partnership is established with an entity that has a proven track record in facilitating remittances in a secure manner.
In a bid to encourage remittances via NSB U-trust, the bank has initiated the ‘Salli Ehen Thagi Mehen’ draw that will be held annually.
In addition to Ria, NSB is also an agent for nine other web-based fund transfer brands: Xpress Money, Instant Cash, Unistream Money Transfer, EZ Remit, Transfast, Cash Express, Small World Financial Services, Gmoney Trans and Western Union.