Transferbee.com has launched in UK to enable Nigerians living in UK to send money to their family and friends in Nigeria easily and cheaply than it’s through banks or other money transfer systems.
Touted as the most affordable and convenient money transfer service launched in UK to Nigeria charges only 4.5 pounds to send money directly to one’s mobile phone in Nigeria, in just 24 hours. Receivers can redeem the money in 1000s of cash-out points without the need to visit the bank.
“According to the World bank report, Nigerians receive more than 20 billion US dollars from abroad every year. But the market is still dominated by banks and companies charging high fees for the same service. We want to change that and offer a cheap and convenient way for Nigerian people to send money back home”, Titas Bledis, CEO of Transferbee talked about the service launch.
Transferbee will also be unique because of the convenience of the service. The sender can transfer money to any Nigerian mobile phone number. The money will be sent to the receiver’s mobile money wallet in 24 hours. Mobile wallet will be created automatically, if the receiver is not yet using mobile money.
“The receiving party can then withdraw money in 1000s of cash-out points across the country without a need to visit the bank. Received money can also be used to pay for utility bills, airtime or other transfers”, Titas explained the convenience of mobile money.
At the moment, Transferbee is working with Nigeria’s Teasy Mobile Money and Cellulant Wallet and will have other mobile money operators on the platform soon.