UK-based digital money transfer firm WorldRemit has expanded its same day money transfer service to Ecuador.
The move will enable the firm’s customers to transfer funds from countries worldwide to all bank accounts in Ecuador directly from their phones. According to World Bank estimates, the South American country received over $2.7bn in remittances last year.
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WorldRemit introduced its money transfer service in South America in 2014, with its customers currently making over half a million remittances to the region annually.
Meanwhile, the company also appointed Gabriel Carvajalino as the head of its South America business and as a country manager in Colombia.
“Ecuador has a large population of emigrants living and working overseas who are frequently sending money home to support their families and friends. However, much of this money is sent via more expensive and less efficient cash-based methods. At WorldRemit we want to change this, and I’m pleased that we can now offer our customers the ability to transfer money back to all Ecuadorian bank accounts – no matter where they are in the world,” Carvajalino noted.
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