International money transfer company, Moneygram has signed a partnership agreement with DenizBank of Turkey.
Pam Patsley, CEO and chairman, MoneyGram, said: "This significantly increases MoneyGram’s footprint in Turkey while decreasing the distance our customers have to travel to send money to friends or family worldwide. Now that we have achieved additional territory coverage in Europe."
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The remittances of Turkish emigrants amounted to $1.09bn in 2011 with Germany, France and the Netherlands having the highest numbers of Turkish emigrants.
Hakan Ates, CEO and president of DenizBank, said: With this solution partnership that will enhance our bank’s strength in the global network, we become one of MoneyGram’s key agents in Turkey and offer easy and fast money transfer service through their worldwide service network and infrastructure to everyone, regardless of being a DenizBank customer or not.
DenizBank has 667 branches in 81 provinces throughout Turkey and Moneygram has a global network of and is present in 200 countries and territories.
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