MoneyGram expands relationship with CIMB Banking Group

Recently expanded in India, Bangladesh and the Philippines.

MoneyGram a global money transfer company and CIMB Bank Singapore have reached an agreement to offer international money transfer services at the CIMB Bank Currency Exchange outlets at Resorts World Sentosa and the Marina Bay Cruise Centre, increasing the accessibility of funds transfer services to customers.

“Adding CIMB Bank Singapore to our network is an important step for us as we provide more access to affordable money transfer services to those who rely on funds transfer services for their daily needs,” said Grant Lines, senior vice president, APAC, Southeast Asia and Middle East at MoneyGram.

According to the World Bank, an estimated $6.6 billion in remittances was flowed out of Singapore in 2011. To meet the growing demands for a reliable money transfer service, MoneyGram has recently expanded in India, Bangladesh and the Philippines.

“We are pleased that our relationship with MoneyGram will widen the range of remittance services on offer at our Currency Exchange outlets and allow us to better cater to customer segments that require such services,” said Coreen Kwan, head of retail banking, CIMB Bank Singapore.

The addition of the two CIMB Bank Currency Exchange outlets increases the MoneyGram network in Singapore. Customers can easily send or receive money at any of these locations by submitting the relevant ‘send’ or ‘receive’ form and providing photo identification to complete the transfer.

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