The Fiji Development Bank and FEXCO, a certified agent for Western Union Money Transfers, this morning signed a contract making FDB a sub-agency for Western Union.
This agreement allows FDB to facilitate Western Union money transfers in Fiji and abroad through its 11 branches Fiji wide.
“Partnering with FDB gives us the opportunity to serve more customers. We have more the 100 agencies around the country but most of these are in the town and city areas. FDB have a few of their branches like Taveuni, Nabouwalu and Seaqaqa that are in remote areas and with their help we can get services close to the people that need them,” Steven Narayan General Manager FEXCO said.
Further, the agreement means FDB can now accept payments and remit funds from Western Union customers in cash or through bank cheques from and to anywhere in the world.
“We are very happy to partner with Western Union through this initiative. We are doing this for the sole reason of providing more access for the general public especially through our rural branches. This is also in line with the financial inclusion programme spearheaded by the Reserve Bank which FDB is a part of,” FDB acting chief executive officer Nafitalai Cakacaka said.
“We are going to provide another option for the general public to have access to a faster, reliable and convenient way of moving money as Western Union operates in more than 200 countries.”
“This will also be beneficial to bank customers who reside overseas as this will provide them with another platform of remitting payments directly to FDB in a timely manner.”
FDB operates 11 branches throughout the main municipalities of Suva, Nausori, Sigatoka, Nadi, Lautoka, Ba, Rakiraki, Nabouwalu, Seaqaqa, Labasa Savusavu and Taveuni.
The bank will now begin with the up-skilling of relevant staff in the various branches on the technicalities of sending and receiving of money before opening its services as a fully-fledged Western Union agency.