As WorldRemit expands its service through a new cash pick-up service, Nigerians living in over 50 foreign countries can now send money directly to First City Monument Bank, Fidelity Bank, Access Bank, Zenith Bank and Polaris Bank, which will be easily picked up by the beneficiaries.
The new service allows WorldRemit customers in over 50 countries to send money directly from their phones to over 1,500 pick-up locations in Nigeria.
The digital money transfer firm explained that using the WorldRemit app or website, Nigerians overseas can send money quickly and securely to 1,800 cash pick-up locations across 36 Nigerian states.
It also disclosed that by the end of the year, it would expand its cash pick-up network to over 5,000 branches in the country.
According to the firm, the new service builds on its efforts to offer Nigerian customers choice and convenience. Besides instant cash pick-up, customers can also send money to Nigeria via bank transfer, airtime top-up and mobile money.
Recent WorldRemit research, however, showed that 200,000 children were schooling with money sent from loved ones living abroad. In the households that receive remittances, not only is more money spent on education, but children are also less likely to work and more likely to study.
The latest report also revealed that WorldRemit’s mobile digital model saved customers time and money, as they did not have to visit any bricks-and-mortar agent to send money home.
With over 15 million people living in the United States of America, United Kingdom, Australia and Canada, among other countries, remittances play a significant role in Nigeria’s economy.
The World Bank estimates that in 2018 alone Nigeria received $26bn in remittances, making it the largest recipient in Africa.
“WorldRemit is delighted to expand its service offering in Nigeria, and introduce more recipients to our award-winning fast and convenient service.
“We recognise that the future of international payments will increasingly be defined by diversity and choice, as more countries across the world strive to achieve universal financial inclusion.
“Using our app or website, customers living in over 50 countries can now send money home for collection as cash in just a few taps from their phones,” stated the Managing Director, Middle East and Africa, WorldRemit, Andrew Stewart.”
The firm, he added, also offers notifications to both senders and recipients when the money has been sent and received for complete peace of mind.