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Turkish bank teams with US money transfer firm to make sending money around the world simpler

Posted on 09 September 2013

Sending money between one of Turkey’s leading banks and an overseas destination has got easier thanks to the bank now providing a global money transfer service in all of its branches.

Turkish bank DenizBank now offers MoneyGram’s money transfer service in all of its branches nationwide.

“Now that we have achieved additional territory coverage in Europe, we are also enabling customers across the globe to reach their loved ones back home in Turkey more easily. DenizBank is a great fit for us.”

“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,” said Pam Patsley, chief executive officer and chairman, MoneyGram. “Now that we have achieved additional territory coverage in Europe, we are also enabling customers across the globe to reach their loved ones back home in Turkey more easily. DenizBank is a great fit for us.”

DenizBank was established in Turkey in 1997 and offers a range of services including investment banking, brokerage and leasing. According to the World Bank, the Turkey remittance market is worth more than $1 billion. This makes Turkey an important receive market and, with its tremendous economic growth momentum, a fast-growing send market. Key countries that residents send funds to include the US and UK, France, Holland, Belgium, Germany and Russia.

Hakan Ates, chief executive officer and president of DenizBank, said: “We attach great importance to intensifying our collaborations with global strong brands accordingly. People working or studying abroad, or tourists and businessmen who do not want to carry cash with them, or anyone who is in need of urgent money transfer can now do so rapidly, securely and easily from DenizBank branches without needing a bank account. As a natural extension of our mission to add value to social life, I believe that our collaboration will add convenience to many people’s daily lives and I hope this will be beneficial to all parties.”

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