FNB remittances to Zimbabwe expands by 102%

FNB's Money Transfer service to Zimbabwe has seen cross-border money sending double in the past year, the bank said.

According to Businesstech, the service, which launched on Cellphone Banking in April 2013, was launched on the FNB Banking App in September last year, and has since seen transfers expand by 102%.

"With so many Zimbabweans reliant on receiving money from their family members who work in South Africa, the ease and convenience of FNB's Money Transfer service is evident in the growth in sends and repeat usage by customers," said Leonora Van der Plas, Head of Cross-Border Remittances at FNB.

FNB has expanded its cash-out points in Zimbabwe, and is now available in 33 OK stores. The service is now being rolled out to even more outlets, FNB said.