Jordan Times
Wednesday, June 16, 1999
Jordan National Bank links up with U.S. firm to offer speedy money transfers
By Suha Ma'ayeh
AMMAN — The Jordan National Bank and a U.S. firm have reached a monetary deal by which money transfer services will be accelerated in the Kingdom and abroad.
Under the deal, announced on June 1, the Jordan National Bank will allow Travellers Express/MoneyGram to offer MoneyGram international money transfer services through the bank's 57 branches and offices in Jordan.
Jordan National Bank Managing Director Wasef Azar said the contract was a “strategic alliance” with MoneyGram and a “unique addition to the bank's menu of retail-bank products.”
The firm offers its services through a very sophisticated computer-based network of satellite communications, enabling clients to transfer amounts up to $10,000.
The firm also has a network covering more than 125 countries, providing services at more than 26,000 locations.
Funds are usually paid to the recipient minutes after the transaction is completed.
“Customers can receive their money anywhere in the world in 10 minutes, when ordinary transfers often need up to a week to reach the customer,” Haidar Rashid, director of public relations at the bank told the Jordan Times on Tuesday.
MoneyGram International is a joint venture between MoneyGram Payments Systems and the U.K.-based Thomas Cook Group.