MoneyGram (NASDAQ:MGI), a leading global money transfer and payment services company, and DSK Bank are making money transfers more convenient for customers in Bulgaria with the introduction of "Cash to ATM" service.
The new service allows DSK Bank debit card holders to receive MoneyGram transfers in BGN at more than 850 DSK Bank ATM terminals.
"With the launch of the service, MoneyGram strengthens its commitment to Bulgarian customers by offering convenient cash pick up," says Massimo Canovi, vice president Southern Europe at MoneyGram. "DSK Bank provides services for over 3 million customers, reaching nearly every Bulgarian family, who will now have convenient access to funds sent from loved ones around the world."
"Building our relationship with MoneyGram and adding Cash to ATM service, allows DSK Bank to expand its product portfolio, and directly respond to our customers' needs," says Emil Hristov, executive manager Bank Operations at DSK Bank. "We are always striving to offer reliable, efficient and innovative services and we hope to continue to build trust among our clients."
Bulgaria is one of Europe's largest recipients of remittances. According to the World Bank, remittances from Bulgarians working abroad totaled $1.6 billion in 2013. The most active corridors for sending money transfers to the country are Spain, the United Kingdom, Germany, Greece, Italy, the USA and Turkey.