Ecobank Nigeria has extended its innovative remittance services to its business account holders.

 According to Ecobank, this implies that Business Account holders can now receive funds sent through Ecobank Rapidtransfer or any of its Remittance franchise partners through the Business to Business (B2B), Business to Customer (B2C) and Customers to Business (C2B) transaction types directly into their business accounts.

The bank is also working to enlist other International Money Transfer Operators (IMTOs) for a more robust remittance offering.

 Disclosing this in Lagos, Head of Consumer Banking Korede Demola – Adeniyi, said the launch of the service affords business owners in Nigeria to receive monies sent by both individuals and corporate organizations anywhere in the world instantly to their Ecobank domiciliary accounts, stating that the bank has put in place seamless account opening procedures for those who do not have domiciliary accounts for them to enjoy the service. She maintained that the development is in line with the bank’s strategy to provide accessible remittance services to Nigerians, listing the various channels through which these remittances can be accessed as the Rapidtransfer app, Ecobank Mobile App, Ecobank Online, and any of the bank branches.

 “For us as a bank, we are excited about these and other future collaborations as our contributions to driving remittance inflows into the country, promoting trade and foreign direct investments, creating businesses, spurring entrepreneurship, and generally developing the Nigerian economy. Some of the benefits for business account holders include no limits to how much they can receive, no hidden charges and there is also the opportunity to invest the funds received in foreign currency at a competitive rate.” “The Rapidtransfer is our proprietary product. It is licensed by the nation’s apex bank; the Central Bank of Nigeria (CBN) as an international money transfer product and it is also licensed in Europe. Diaspora remittances can be sent from anywhere in the world using the Rapidtransfer app – available for download in the Google Play and iOS stores.”