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Ecobank Offers Diaspora Nigerians Zero Transaction Fees On Rapidtransfer

To mark this year’s National Diaspora Day on July 25, Ecobank Nigeria, at the weekend offered zero transaction costs on its proprietary money transfer app, Rapidtransfer over a period of four months.

The Federal Government has set the date aside in recognition of the contributions of Nigerians living outside the country towards the development of their homeland.

Commenting on the offer, a statement by the bank quoted Korede Demola-Adeniyi, Head, Consumer Banking, said Ecobank will apply zero fees to all Rapidtransfer transactions from July 1 to the end of October 2021.

The offer, the statement noted, is in addition to the N5 paid on every US$1 received in cash, or through a bank account in line with the Central Bank of Nigeria’s ongoing Naira for Dollar initiative.

While urging Nigerians living abroad to take advantage of the window and send money to their loved ones, she said the offer underscores the bank’s commitment to helping Nigerians abroad remit money home without placing an additional burden of charges on them, especially at this period of global economic downturn.

In a commemorative message, Managing Director, Ecobank Nigeria, Patrick Akinwuntan noted the significant contribution of diaspora Nigerians in the socio-economic development of the country.

He lauded the decision to set aside a special day yearly, adding that the recent launch of the National Diaspora Policy (NDP) by the government would further promote and harness the resources and capacity of Nigerians in the diaspora towards national development.

“As a pan-African institution positioned to foster the economic growth and integration of our continent, we are particularly pleased to work closely with NiDCOM, ably led by the Chairman/CEO, Mrs. Abike Dabiri-Erewa towards the engagement of Nigerians in the diaspora on policies, projects and other initiatives geared at developing the nation.

“From our constant engagement with Nigerians in the Diaspora, we understand their peculiar needs and have created tailor-made solutions to serve them effectively,” he said, stressing further that Ecobank has partnered NiDCOM on webinars, diaspora quarterly lecture series.

The bank, he assured, will continue to seek other collaboration opportunities to deepen engagement with the diaspora community.

Rapidtransfer is Ecobank’s proprietary money transfer service which enables users to send funds across borders, affordably and instantly. The Rapidtransfer app is available for use by Ecobank and non-Ecobank customers. Remittances can be received directly into the recipient’s account or as cash at any Ecobank branch. Beneficiaries who wish to receive funds into an account but do not have domiciliary accounts have the opportunity to open in Euro, GBP, or US$ instantly and enjoy all the benefits that come with Ecobank foreign currency accounts.

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