Moscow based Commercial Bank Unistream starts remittance partnership with Seylan Bank
The clients are now able to receive cash-to-cash and cash-to-account money transfers via UNISTREAM in the branches of Seylan Bank in Sri Lanka. The payout services became available in nearly 150 new locations across the country.
The tariffs applied range from US$4.4 depending on the amount and the country where the transfer is originated.
"Having launched our services in Seylan Bank branches, we gave our clients new opportunities and access to high quality, reliable and secure transfers in a vast number of new outlets in Sri Lanka", said Senior Vice President of International Business for UNISTREAM Shekhar Nair.
"Taking into the account growing demand for quality money transfers in the region, we believe that the new option opened will be highly appreciated by the clients".
Mr. Nair added that, launching the new project, the system has significantly strengthened its positions in key corridors from UK, Israel, Cyprus and Germany to Sri Lanka. In the European countries mentioned, UNISTREAM features especially strong positions promoting its own networks.
In Sri Lanka, UNISTREAM currently has its payout services available in almost 350 locations including the ones of Seylan Bank.
"We trust that cooperation with the international remittances service provider UNISTREAM will widen our product line and result into an increase in our client portfolio", the speaker for Seylan Bank said
The current volume of the Sri Lanka money transfer market is estimated at $4 bln. per annum.
Established in 2001, the system now operates over 330 thousand locations in nearly 100 countries. UNISTREAM is ran by the Moscow-headquartered JSC CB Unistream.
It features leading positions in the CIS. Since very beginning the system has dynamically transforming itself into a solid international market player.
UNISTREAM is intensively promoting its own networks in the UK, Germany, Greece and on Cyprus.