MoneyGram launches money transfer service to all bank accounts Gives consumers a new option to receive funds in Africa’s fifth-largest remittance recipient market

MoneyGram has announced the launch of a money transfer service directly to any bank account in Ghana. Funds can be sent via MoneyGram online or at any one of MoneyGram’s thousands of locations around the world.

The money can be accessed in minutes either in person, online or through an ATM.

The new account deposit service in Ghana is a part of MoneyGram’s overall strategy to accelerate its digital growth and provide customers with convenient and accessible, technology-based financial services.

“We see a potential in the increasing adoption of banking services in Ghana, and want to drive financial inclusion in the region by offering our consumers more digital money transfer options.

“Currently, our global account deposit network consists of more than two billion bank, virtual and mobile accounts in 48 countries,” said Grant Lines, MoneyGram’s global chief revenue officer.

According to the World Bank, in 2017 US$2.2billion flowed into Ghana, up 4.3% compared to 2016 – which makes the country fifth-largest remittances recipient in Africa. The inflows come mainly from the United States (US$585million), Nigeria (US$395million), the United Kingdom (US$286million), Italy (US$145million) and Germany (US$115million).

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