Ecobank Commences ATM Money Transfer Service with Western Union


MARCH 19,2014.



Ecobank Transnational Incorporated (ETI) yesterday disclosed that its customers in Nigeria can now conduct Western Union Account Based Money Transfer (ABMT) services using any Ecobank Automated Teller Machines (ATMs).

The partnership with Western Union, according to the pan-African bank, will enable its customers have access to the global money transfer company’s services using their Ecobank debit card in addition to its already existing internet portal.

A statement explained that in order to access the service, customers are expected to visit Ecobank Nigeria ATMs, insert their debit card, select ‘Western Union’, and follow through the steps to complete a transaction.

The Deputy Managing Director, Ecobank Nigeria, Anthony Okpanachi, said both institutions have leveraged technology to the advantage of their mutual customers.

According to him, the initiative would also encourage the financially excluded to maintain bank accounts with Ecobank.

“Ecobank is the first to offer such an innovative and convenient banking service in Nigeria,” he added.
The Regional Vice President Africa, Western Union, Aida Diarra, on her part stated that his organisation values its collaboration with Ecobank.
“This development further promotes financial inclusion which is in line with the Central Bank of Nigeria (CBN) cashless policy,” she added.

She further commented that “the financial services industry is a major driver of Africa’s economic growth and Ecobank and Western Union play a pivotal role by moving money across the continent in innovative and cost-effective ways.”