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July 9, 2018

Western Union, Post Bank partner to facilitate digital remittances

Western Union has partnered with Russia’s Post Bank to expand their digital international money transfer offerings.

The collaboration will enable the bank’s customers to send Western Union money transfers directly to their accounts across more than 50 countries by using Post Bank’s mobile banking app.

Western Union global money transfer president Odilon Almeida said: “Our collaboration with Post Bank gives the sender convenient access to send money at their finger-tips and also the flexibility to choose the payout option most convenient to the receiver – paid into bank accounts or received in cash at Western Union retail agent locations.”

To avail the service, customers need to fill and submit a form available at the Post Bank app with the necessary details, following which they will receive a one-time password via SMS.

After entering the one-time password, the user will receive an electronic receipt with the unique money transfer control number (MTCN) to carry out money transfers.

All remittances, made through the Post Bank mobile app, will be automatically converted into the local currency of the recipient.

Post Bank digital business development director and board member Anastasia Maslennikova said: “We are constantly developing our cooperation with Western Union, whose money transfer services are available via the Post Bank Mobile App for Russians, as well as citizens from other states.

“Now the bank’s customers are able to transfer funds to bank accounts in more than 50 countries around the world.”

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