Standard Bank and Stanbic Zimbabwe have teamed up with OK Zimbabwe to offer person-to-person money transfers in real time from South Africa to Zimbabwe.<\/p>\n
The service enables people residing in South Africa to send money instantly to that country via Standard Bank\u2019s Instant Money International transfer system.<\/p>\n
Zimbabwean residents can receive and collect their money at any of OK Zimbabwe\u2019s 55 stores nationwide. The recipient in Zimbabwe does not require a bank account to receive their money.<\/p>\n
The service is currently available online to Standard Bank\u2019s Internet Banking customers; but will be expanded to Standard Bank\u2019s more accessible Access Point network in future, it said.<\/p>\n
Instant Money International will cost R50 per transaction, Standard Bank said.<\/p>\n
\u201cThere is huge potential for a successful and widespread uptake of the Instant Money International service, with five million Zimbabweans living and working in South Africa, and having family based in their home country,\u201d said Standard Bank.<\/p>\n
The group noted that it is working to expand Instant Money International to other Southern African countries and will be making announcements in this regard in the not too distant future.<\/p>\n
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