Banco do Brasil Americas has partnered with Earthport to unveil a new international transfer service from multi-currency prepaid cards for students.
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The bank has selected Earthport’s payments solution to power its international card to bank transfers.
The solution, which is a multi-currency scholarship disbursement card, will accelerate availability of funds for cardholders and simplify the process of sending and receiving scholarship disbursements globally.
The prepaid card will allow students to safely and easily take scholarship funds abroad. It is a safe and convenient solution for both the sponsors supplying the fund.
Using the service, students can transfer their scholarship funds from the prepaid card into a local bank account.
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By GlobalDataThe prepaid card used to transfer funds will incur lower fees for students than they would by transferring money internationally using other methods.
Banco do Brasil Americas CEO Antonio Cassio Segura, said: "By working with Earthport we’ve been able to launch this convenient mechanism for money management for students in a very short space of time. We believe it is going to be of great benefit to prepaid card customers as well as our scholarship sponsors."
Banco do Brasil Americas has been built on Earthport’s multi-currency payments network, ensuring that fees and rates are known up-front and the receipt of funds are predictable. Using the prepaid card to transfer funds students will incur lower fees than they would by transferring money internationally using other methods.
