Known as the ‘The warm heart of Africa’, Malawi is known for its friendly people and breathtaking landscapes. Although the economy of Malawi is majorly dependent on agriculture, forestry and fishing; the inflow of remittances has also played a key role. Many families in Malawi depend on money sent by their loved ones who have migrated to other countries for work.
To help Malawians across the world send money conveniently to their loved ones back home, Xpress Money has partnered with First Merchant Bank to start services in Malawi. People in Malawi can easily now easily receive cash, instantly, from any First Merchant Bank branch through Xpress Money. This service will give Malawians a convenient and secure money transfer solution. With Xpress Money, a person can receive up to MWK 3,000,000 in a single transaction.
Along with providing the convenience of safe money transfers, Xpress Money is continually working towards lowering the cost of remittances to Africa . It is a known fact that money transfers to Sub-Saharan Africa remain the highest in the world. To certain African countries, customers are charged almost 10% for every $200 that they send, almost 3% higher than the industry average. We have been constantly looking at ways to lower these costs for our customers. In addition to the special East Africa pricing that we have worked out, we offer our customers competitive exchange rates and a host of options to send and receive money.
At Xpress Money, our aim is to provide an efficient way for people around the world to send and receive money. Our new collaboration in Malawi is an exciting new addition to our constantly growing network of countries. We are happy to be present in the ‘warm heart of Africa’ and to play a part in Malawi’s growth story.