MoneyGram teams up with Visa to offer zero fees for money sent to ComBank Visa Debit Cards

Commercial Bank customers receiving money from the USA via the MoneyGram money transfer service to their Bank-issued Visa Debit Cards will not be charged a fee for the next three months as a result of a promotion campaign involving the three companies.

Under this joint promotion, MoneyGram will waive the remittance fee for senders from the US sending money to Commercial Bank Visa Debit cardholders. Eligible transactions will be those that are routed through the ‘Visa Direct’ programme that allows safe, convenient, and real-time funds delivery directly to financial accounts using card credentials.

With this promotion in place, Commercial Bank’s Visa Debit cardholders will be able to enjoy faster receipt of their money through the secure network of Visa Direct that ensures robust risk and fraud management, in addition to the $0 fee offer, the Bank said.

Recognised throughout the world as a leading money transfer company, MoneyGram’s major products and services include global money transfers, money orders and payment processing solutions for financial institutions and retail customers.

Sri Lanka’s only carbon neutral bank, the first Sri Lankan Bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 10 years consecutively, Commercial Bank operates a network of 268 branches and 932 automated machines in Sri Lanka. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.