MoneyGram adds Bank Asya branches to Turkey network

Source: MoneyGram

MoneyGram International (NYSE:MGI), a leading global money transfer company, announced today that it has added Bank Asya, a leading financial institution in Turkey, to its growing agent network to provide MoneyGram money transfer services at 160 branch locations in Turkey.

"We are delighted to expand our network in Turkey with Bank Asya and find creative solutions for bringing the ease and convenience of money transfer to more people around the world," said John Hempsey, MoneyGram's executive vice president for Europe, the Middle East, Africa and Asia Pacific. "We are committed to this region and we will continue to establish more locations and pursue new technology avenues for remittances such as transfers to mobile phones, prepaid cards or ATMs."

Hasan Unal, executive vice president for Retail Banking at Bank Asya, said, "We are introducing MoneyGram's money transfer services across our network in Turkey and we've set high standards for our service and will work to distinguish our branches as preferred MoneyGram agent locations."

In addition to serving Bank Asya's approximately 3 million account holders, MoneyGram's money transfer service will also be available to customers without accounts. Customers can walk into any of Bank Asya's 160 branch locations to send and receive international money transfers to or from MoneyGram's 190,000 agent locations in 190 countries and territories around the world.

In 2008, an estimated $1.3 billion was remitted to Turkey, according to the World Bank. Funds to Turkey arrive primarily from European countries including Germany, France, the Netherlands and Austria, as well as from the United States. MoneyGram money transfers in Turkey can be collected in euros or U.S. dollars.

"Bank Asya is an excellent addition to our agent network in Turkey," Hempsey said. "The bank's experience with advanced technology and focus on superior customer service aligns with MoneyGram's vision to provide more choices to consumers to reliably and conveniently send and receive remittances."

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