Nigeria: Ecobank Offers Zero Fees On Rapidtransfer

4 August 2020

In commemoration of the National Diaspora Day, Ecobank Nigeria has stated that it is offering zero fees for money transfers on the Rapidtransfer App.

The offer would last till 31st October, 2020. The federal government had set aside July 25 of every year as the National Diaspora Day in recognition of the contributions of Nigerians living outside the country towards the development of their homeland.

Rapidtransfer is Ecobank's proprietary money transfer service which enables users send funds across borders, affordably and instantly. The Rapidtransfer app is available for use by Ecobank and non-Ecobank customers. Cash can be received directly into the recipient's account or as cash at any Ecobank branch or Agent location.

Announcing this in Lagos, Head, Consumer Banking, Ecobank Nigeria, Korede Demola-Adeniyi, said the decision to waive charges underscores the bank's commitment to helping Nigerians abroad remit money home to their loved ones without placing an additional burden of charges on them, especially at this period of economic downturn across the world. She noted that the bank appreciates the contributions of Nigerians in the diaspora to the development of the country and is committed to ensuring that their transfers reach home instantly and affordably.

In addition, she stated that the Rapidtransfer app delivers value to both the sender and receiver. In her words, "our rates on the app are very competitive ensuring that both the sender and receiver get value for their money. The app also allows you see the exchange rate before your transaction is consummated, thereby providing a great level of transparency. The entire money sent reaches home, no hidden charges."

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