MoneyGram has expanded its money transfer services in Vietnam as Sacombank and Eximbank joined the company's agent network, growing the countrywide network by 30%.
Sacombank is a provider of remittance services with 253 convenient countrywide locations. Eximbank is a provider of financial services and a remittance provider with 141 locations primarily in the areas around Ho Chi Minh City and Hanoi.
John Hempsey, executive vice president of Europe, the Middle East, Africa and Asia Pacific at MoneyGram, said: “Vietnam is a leading recipient of global remittances and a country of significant focus for MoneyGram in 2010.
“As consumers seek greater value, our latest expansion will provide highly convenient money transfer services and more choices for consumers to collect MoneyGram money transfers from leading remittance organizations, including their current trusted bank location. Vietnam has unique remittance needs and we are eager to provide our money transfer services in all the ways our consumers desire to receive funds.“
Nick Cunnew, senior regional director of Asia Pacific and South Asia at MoneyGram, said: “Many Vietnamese are sending funds home to invest with preferred financial institutions as well as to support family. By adding our services to financial institutions already known as remittance leaders, consumers have a compelling reason to try our brand and discover the value of MoneyGram’s services, including low fees and convenient and reliable agent locations.”