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Nigerians living in Canada, United States (US) and the United Kingdom (UK) can now send money home for free this Christmas season, courtesy of Switch international money transfer service.
The free service applies for transfers between users on the app and it is free whether they are transferring money in Naira, Pounds Sterling, Dollars or Euro, as long as the originator and beneficiary are on the app. Powered by Sterling Bank, the revolutionary funds transfer service allows inward transfers to Nigerians for free.
Shina Atilola, Divisional Head, Retail and Consumer Banking, Sterling Bank, who disclosed this in a statement issued by the bank early this week urged Nigerians in the diaspora to take advantage of the novel Switch platform to transfer money free of charge to their loved ones in Nigeria in this Christmas period. Atilola said: “The days when Nigerians in diaspora were unable to fund their Nigerian bank accounts using international bank cards due to high bank charges are over”.
Sending money to loved ones in Nigeria has been made easy with Switch. The platform also enables users in Nigeria to conduct seamless online transactions “The platform is particularly helpful to Nigerians living in the UK, US and Canada who would like to send money home to loved ones this Christmas. They can do so by signing on to the Switch platform and enjoy free money transfers to friends and family that are on the Switch platform.”
He disclosed that the app has a feature known as ‘Funding with Card.’ It enables users to fund their Naira account and wallet on Switch using a local or international bank-issued card. Atilola added that users of the Switch app or online platform can fund their domiciliary accounts on Switch via international wire transfer from domiciliary accounts with their local or international bank.
They can also fund it through an International Money Transfer Operator (IMTO) that processes such remittances. According to him, receiving funds into the account is free, although the sending bank might apply charges for its service. He explained that the digital platform can be accessed via a dedicated website while the app is available on Android and iOS stores. Switch allows the conduct of everyday banking and financial services such as bills payment, funds transfer, payment requests, investments, and insurance services, among others, he said.
According to Atilola, “Switch provides customers with added value of lending, investment and insurance opportunities at better rates through an extended partnership network.” He said Switch was designed to equip customers with the right tools to build a financially healthy lifestyle and future to address multiple financial needs in one place through a marketplace of convenience that gives customers the power to make choices of financial products.
The Divisional Head said Switch would benefit the customers’ desire for a convenient banking that gives more value such as access to loans, income from investments and protection from mishaps with insurance. Switch is a new multi-service platform that has been approved by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC). The new product enables Nigerians resident abroad to enjoy banking and other allied financial services in a confident, convenient, casual, humane, and relatable manner.
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