Fast, safe, uncomplicated – MoneyGram´s money transfer service checked: Kemi Okusanya from MoneyGram answers questions by Kenneth Gbandi from African Heritage Radio. Read the entire interview here: 

28.01.2016, 20.00, African Heritage Radio:

1. What are the main goals you pursue with this newly started money transfer system in Nigeria?

Our main goal is to offer more convenience and safety to our customers. This service (also called Cash 2 Account) was started in order to guarantee our customers easier access to the money sent by their relatives without all the stress of having to fill in all these forms at the bank. Our service also gives our customers more safety for their money.

The access to the money sent is not limited to a certain date or time as customers can either transfer money, withdraw money at a cash machine, make a transfer via online banking on their smart phone, or save money on their account.

2. What exactly does MoneyGram´s new money transfer service include?

Cash 2 Account is an additional service for our customers in Nigeria and even abroad. This new service allows customers to receive their credit transfers in real time from all over the world to an account of a registered Nigerian bank.

3. Can the money be sent to any Nigerian bank, or are there limitations?

The service is available for all individual accounts of the Nigeria Inter Bank Settlement System. Money can be sent via every individual personal account that is registered with the Nigerian NIP transfer service (only savings accounts and current accounts). Transfers to joint accounts and/or business accounts are not supported and are rejected.

4. How long does it take for the recipients to receive their money?

All permitted transactions will be visible on their account within a few minutes*.

*The speed of the service is dependent on the opening times of the bank, the availability of the systems and the system verification by MoneyGram.

5. How much does the new service cost?

The fees can be viewed via our cost estimator tool: https://www.moneygram.com/wps/portal/moneygramonline/home/estimator. MoneyGram also levies a transaction fee in accordance with the foreign exchange market.

6. How much money can be transferred in one session? 

In one session, you can transfer 1 million naira at most, except when local guidelines or MoneyGram´s guidelines are exceeded.

7. Which information is needed to transfer money to a Nigerian account?

In addition to the usual details, MoneyGram needs the recipient´s name (first name and surname) with which they are registered with their bank, the 10-digit NUBAN account number, the bank´s name and the reference. 

8. How do you get the 10-digit NUBAN number?

The recipient gives that information to the person making the transfer. The 10-digit NUBAN number can be seen on all account statements and chequebooks. If you do not find your number, please ask your bank.

9. How can the recipients withdraw money from their bank in Nigeria?

In the same way that they would usually withdraw money: through credit cards, bank cards, online banking or simply at the counter at your bank.

10. Who belongs to your potential target group and how do you draw people´s attention to the system?

  • Recipients in Nigeria with functioning accounts wanting more comfort
  • Students who are dependent on their relatives abroad
  • Women whose husbands are abroad
  • Parents with bread winners abroad
  • Diaspora citizens with local accounts
  • People are made aware of our offer through communication online and offline
  • Offline: Radio skits, radio advertisement, flyers and posters
  • Online: Video skits/vlogs, online articles on blogs, network advertising etc.