Library Publications Banks: The Preferred Remittance Services

Banks: The Preferred Remittance Services

14 Mar 2012 1259
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This Note discusses the features of two agent-based remittance models introduced by banks:

  1. Direct remote deposit into a bank account from business correspondent agent (BC agent) location (referred as direct deposit); and
  2. Money transfer between two no-frills savings accounts (NFA).

It concludes that with a well explored and researched strategy focussing on customer service and agent satisfaction, banks can service significantly higher number of remitters and receivers with a safe, fast and trusted remittance product/channel.

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