FBNBank partners Worldremit to offer international Money Transfer Services

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FBNBank partners Worldremit to offer international Money Transfer Services
FBN Bank Ghana, Victor Yaw Asante

FBNBank Ghana and digital payments company WorldRemit have announced a partnership that makes it easier for residents of Ghana to process international money transfers. This new service allows the Ghanaian diaspora and other nationals worldwide to send remittances to a network of 21 FBNBank branches and two agencies across Ghana, enabling their families and friends to receive and withdraw funds in a convenient, fast and secure way.

Through this partnership, FBNBank will be offering two remittance services – namely bank transfers and cash pick-up. The bank transfer service credits the transferred funds directly into the bank account of the beneficiary via the GhIPSS Instant Pay Platform (GIP); and the cash pick-up service offers cash to beneficiaries of international transfers in a branch setting. With this partnership, WorldRemit continues to expand into worldwide remittance markets in its quest to make international money transfers accessible and affordable. The company’s cash pick-up network in Ghana now includes the 21 FBNBank countrywide branches and two agencies.

Together, FBNBank and WorldRemit are improving the financial inclusiveness of Ghanaian citizens and supporting the country’s economic growth by making it quicker and easier for the Ghanaian diaspora to send money back home. Real-time transaction processing ensures their families and loved ones receive money quickly and without delay.



The World Bank’s Migration and Development report for 2021 indicated that the Ghanaian diaspora remitted an estimated US$3.6bn in 2020. This was a 5 percent increase over the previous year, 2019, in international remittances. Ghanaian remittances significantly improve the living standards of households in the country, and enable people to pay for a variety of social needs including education and health.

Commenting on the partnership with WorldRemit, Mr. Semiu Lamidi, Executive Director and Chief Financial Officer of FBNBank Ghana Limited said: “We believe in partnerships which deliver great benefits. We are also keen on making innovation work for our customers. WorldRemit’s innovative service enables local communities have easy access to much-needed funds. Through our partnership with WorldRemit, FBNBank will be making it possible for millions of Ghana’s residents, including our customers, to have access to funds from their relations and associates abroad.

“For us at FBNBank, this is yet another offering on our menu that enriches our service to customers on the platforms of convenience and variety. It goes to show how focused we are on ensuring that our customers, and indeed all other stakeholders, remain at the heart of what we do. This is what we mean when we say we put our customers first – and this is the kind of benefit for our customers we expect partnerships to deliver for us at FBNBank.”

Through this partnership with WorldRemit, FBNBank will be offering fast, safe and affordable remittance services to expand the variety of international remittance service options available to the bank’s customers.

Elaborating, Alexander Markwei, Head-E-Business Solutions at FBNBank Ghana said: “In line with our declared agenda for 2022, we are expanding our service offering across the board. Our partnership with WorldRemit service is a confirmation of our commitment to ensuring our customers receive much-needed funds quickly and efficiently. For us at FBNBank, this is what convenience means; and we are committed to delivering greater service to our customers on that platform”.

Gbenga Okejimi, Country Manager for Nigeria and Ghana at WorldRemit, described this agreement as a pivotal move to simplify the transfer of Ghanaian diaspora remittances. He emphasised that: “The financial empowerment and inclusion of all Ghanaian citizens form the core of this partnership. FBNBank’s wide network of branches and customer base allows receivers to access remittances conveniently”.

Customers and other users of the WorldRemit service at FBNBank will benefit from a no-fee arrangement for receivers and instant availability for receivers. In the case of a Cash Pick-up service, this will be dependent on the opening hours of the Bank.  Bank Transfer beneficiaries, however, can access the funds sent through the FBNBank’s alternate channels nationwide even outside the bank’s working hours. The WorldRemit service is also available across the First Bank of Nigeria’s network, to which FBNBank Ghana belongs.

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