Kuwait Finance House (KFH) has collaborated with Western Union to offer co-branded international money transfer services through its mobile app, KFHOnline.

KFH Manager E-Channels and Cash Management Services, Meshal Mandani, said that KFH and Western Union are offering the new service without any transfer fees[1] for a limited period.

He pointed out that the services are beneficial to customers in terms of saving time and effort, as it permits them to send money (cash or bank account) to their designated beneficiaries at desired locations across Western Union’s global network.

Mandani added that customers who want to transfer money from their account to an overseas location via Western Union can conveniently and securely access the KFHOnline app on their mobile devices. Then, they can carry out the transfer procedure by following specific and swift steps.

He pointed out that the service is designed to offer the best benefits to KFH customers and is part of the Bank’s cooperative efforts with global money transfer companies. The aim is to facilitate secure, transparent, and prompt money transfer that aligns with customer expectations.

Western Union is one of the largest and accredited international money transfer operators. Customers can send money through Western Union’s vast retail network, which spans more than 200 countries and territories. Payouts can also be made into billions of bank accounts and millions of digital wallets and cards in over 110 countries. Real-time international money transfers are available for accounts in 100 countries.

Western Union’s Regional Vice President for the Middle East, Pakistan and Afghanistan, Hatem Sleiman, emphasized the importance of the collaboration, which gives customers access to the full scale of Western Union’s network.

Sleiman added that according to World Bank’s 2022 remittance data, Kuwait ranked in the top 10 send markets globally. Consumers expect a choice in how and when they send money. They want services that are easy to access, reliable, convenient and can be completed at speed. Joining forces with Kuwait Finance House to expand its digital app capability, Western Union aims to serve these needs. The collaboration brings Western Union another step closer towards ensuring accessible financial services for all, which is a central component of its strategy.

It is worth noting that KFH provides a range of digital banking solutions via the KFHOnline app. These include a set of new services such as submitting a personal finance application online through KFHOnline, opening a gold account with options for selling and buying, gold delivery service, cheque book request, instant cheque printing, instant debit card issuance via QR code, and cheque deposit. Customers can also view investment plans, make local and international transfers, and create investment deposits.

[1] Western Union still makes money from currency exchange.