PINcept.com: MoneyGram International Doubles Its Money Transfer Network in Serbia

MoneyGram International Doubles Its Money Transfer Network in Serbia

Alpha Bank begins service in 165 branch locations nationwide

MINNEAPOLIS--(BUSINESS WIRE)--MoneyGram International (NYSE:MGI), a leading global money transfer company, today announced an alliance with Alpha Bank Srbija A.D. to add MoneyGram money transfer services to more than 165 locations in Serbia. MoneyGram established its first locations in Serbia last year, and the addition of Alpha Bank doubles MoneyGram’s network in the country.

“Serbia is an important remittance market for MoneyGram,” said John Hempsey, executive vice president for MoneyGram International and head of Europe, the Middle East, Africa and Asia Pacific. “MoneyGram transaction growth has been strong in Serbia this year as value conscious consumers chose MoneyGram for our affordable, reliable and convenient service.”

In 2008, Serbians received an estimated $5.5 billion in remittances according to the World Bank, primarily from Germany, Austria, Switzerland and the United States.

Mr. Periklis Drougas, a member of the Executive Board for Alpha Bank Srbija A.D., said “Alpha Bank is eager to expand our services to our clients by adding MoneyGram’s money transfer service at our locations. The contract with MoneyGram and the implementation of the service throughout our countrywide branch locations supports our regional strategy of constant improvement of the services for our clients. In addition, we’re proud to become an important business partner to MoneyGram, which is recognized worldwide for the quality of its service and providing value to customers.”

All Alpha Bank locations in Serbia are available for MoneyGram money transfer transactions beginning today, which enhances the convenience of MoneyGram’s affordable and reliable money transfer service across Serbia.

MoneyGram’s Hempsey added, “Our growth in Serbia is just beginning. We remain focused on providing the greatest value for global money transfer services in Serbia through highly convenient locations.”

To collect funds in Serbia, customers can visit any MoneyGram agent location, provide the required identification and collect funds in euros in as little as 10 minutes from when funds were sent, based on agent availability and local regulation. Customers can send up to 1,000 euros from Germany to Serbia for a fee of only 24 euros.

About MoneyGram International

MoneyGram International offers more control and more choices to people separated from family and friends by distance or those with limited bank relationships to meet their financial needs. A leading global money transfer company, MoneyGram International helps consumers send money around the world with funds arriving at available agent locations in as little as 10 minutes. Its global network is comprised of 186,000 agent locations in 190 countries and territories. MoneyGram's convenient and reliable network includes retailers, international post offices and financial institutions. To learn more about money transfer at an agent location please visit www.moneygram.com or find us on Facebook.

About Alpha Bank

Founded in Greece in 1879, Alpha Bank is one of the leading banking and financial groups in Southeast Europe with over 650 branches in the region. Its 130 year history of stable corporate foundations and three simple principles: transparency, reliability and responsibility contribute to the bank’s success. Under the slogan “Together, we have a great future,” Alpha Bank opened its first locations in Serbia in 2005. Today, it operates 165 branch offices in more than 100 municipalities in Serbia; Alpha Bank has earned its place among the biggest banks in the country.