Ghana: Bank of Africa launches new money transfer service
Bank of Africa has unveiled a cash transfer service in Ghana which enables customers to receive and send cash locally and internationally. It said the platform - called Wari - would empower the unbanked.Bank of Africa has unveiled a cash transfer service in Ghana which enables customers to receive and send cash locally and internationally. It said the platform - called Wari - would empower the unbanked.
"One does not need an account with Bank of Africa before one does a Wari transaction. The purpose of the platform is for us to be able to reach the unbanked," said Head of the Alternative Channels at the bank, Ahitophel Dwomoh, quoted by CajNews Africa.
He explained that Wari charges money transfers in bands, which "makes it cheaper". Although people in Ghana cannot transfer funds abroad using Wari, they can receive money from anywhere in the globe.
Ahitophel Dwomoh said the service is secure, with the beneficiary receiving a code automatically on his phone. The recipient also has to fill a form disclosing the amount expected, in addition to presenting a valid ID.
Wari is currently available across Bank of Africa's 19 branches in Ghana and is expected to be rolled
across other banks in the country - including First Atlantic Bank, Express Funds Transfer as well as rural banks and savings and loans facilities.
Wari is one of Africa's fastest-growing financial services
Headquartered in Dakar, Senegal, it has several pan-African alliances with financial institutions , including Ecobank, and AttijariWafaBank.