Access Bank Partners Transfast for Instant Cash Transfer

The management of Access Bank Plc, on Thursday announced a partnership with Transfast, a leading provider of cross-border payments and remittance solutions for inflow of remittance to bank accounts
As part of the global agreement to offer remittance services to expatriates sending money to their loved ones across select markets in Africa, cash pay-outs can also be made from any of Access Bank’s 318 outlets in Nigeria
A statement said the partnership further expands Transfast’s presence in Nigeria, allowing its customers in over 125 countries to send money to millions of Access Bank accounts as well as non-account holders.
“The partnership will ultimately connect over 15 million Access Bank customers in Nigeria, Democratic Republic of the Congo, Ghana, Rwanda, The Gambia, Sierra Leone and Zambia to Transfast’s best in class online money transfer experience,” the statement added.
Also, the Transfast partnership is also expected to increase convenience and ease of banking for Access Bank’s customers in Nigeria as well as support the country’s efforts to achieve financial inclusion.
With a diaspora of 15m people living in countries including the United States, the United Kingdom, Australia and Canada, remittances play a significant role in Nigeria’s economy.
The World Bank estimates that in 2017 alone Nigeria received $22 billion in remittances, making it the largest recipient in Africa.
In the words of Samish Kumar, its Chief Executive Officer, the partnership is significant for Transfast, as “the relationship with Access Bank will allow us not only to extend our network footprint, but also build on the trust that Access Bank enjoys amongst its customers.
“Access Bank’s state of the art technology makes it an effective delivery platform for Transfast services whose focus is in providing a seamless experience to its customers both on the send side & at the point of collection’’
Also commenting on the partnership, Victor Etuokwu, Executive Director, Access Bank Plc, expressed pleasure at the “partnering with Transfast a reputable global payment network to meet the needs of our customers who require a sound and reliable international payment platform.
“As a top player in the remittance industry in Nigeria, our wide branch network and large customer base will be invaluable to this partnership and we are confident that this relationship will be mutually beneficial to both parties. This alliance also supports the Bank’s aspiration of being Africa’s gateway to the world,” he stressed.