The Cameroon branch of the United Bank of Africa UBA has sealed a deal with global money transfer institution Moneygram. The convention signed last month permits clients of UBA Cameroon and send and reciehvved funds from the 200 countries where Moneygram is based.
According to the Head of Remittances at UBA Cameroon Claude Onguene, “the two parties are putting at the disposal of Cameroonians a rapid international money transfer through a secured electronic platform. Clients also have access to counters across the country with affordable rates.”
UBA and Moneygram use a high-level web application which permits clients to have their money a few minutes after the request is made. Consequently, transfers could be made to a bank account or mobile money account. Vices such as money laundry and the financing of terrorism are scrupulously checked through proper identification of clients, electronic encryption of data and configuration of maximum sending amounts.
Moneygram is the leader in international money transfer. Its network constitutes premium partners in over 170 countries which explains why UBA was attracted.
Implanted in Cameroon since 2007, UBA Cameroon has 18 agencies with over 150 thousand clients. The bank offers a variety of services including Mobile Banking, U-Direct, E-Alert and E-Statement.
The official launch of this partnership will take place simultaneously with the fidelity program of Moneygram.
