WarbaBank

El Shareef:

• Quick and easy usage with competitive forex rates
• Remittances available to 30+ countries through multiple channels
• Full amount for the beneficiaries with tracking possibilities

Warba Bank, in partnership with Mastercard, have announced the launch of the ‘Super Transfer’ service, a new international remittance service where customers can transfer money via multiple channels to 30+ countries worldwide, using local currencies with competitive rates. The launch of the ‘Super Transfer’ service is part of Warba’s digital strategy and offerings, and through this service customers will be able to transfer funds 24/7 to pre-defined beneficiaries in a quick, convenient and secure way.

The introduction of this service comes as part of Warba’s continuous effort to provide efficient offerings to its customers through its technical capabilities, advanced systems and programs, and to provide the best banking services in the region. Additionally, by incorporating Mastercard’s advanced cross-border tools into the new remittance platform, Warba will be able to provide an improved level of global connectivity across the bank’s digital banking landscape.

Mohamed El Shareef, Chief Strategy and Digital Officer at Warba Bank stated that the ‘Super Transfer’ service has unique, distinctive and unprecedented digital capabilities. This includes quicker availability of funds through predictable delivery time and improved flexibility in transferring funds through availability of multiple transfer channels (Bank Account and Mobile Wallet). As well as offering competitive forex rates to customers, the service also ensures that the beneficiary receives the full amount with no deductions and has the possibility of tracking the transaction’s status. El Shareef further stressed that the ‘Super Transfer’ is a unique service catering to the needs and yearnings of a wide range of customers, that at the same time takes into consideration all the required security measures.

El Shareef also added that the service can be initiated through Warba Bank’s mobile application under the service section titled ‘Super Transfer’, and individual customers who have at least one active account and one active beneficiary can utilize this service. He further mentioned that there are daily and monthly limits defined on the transfer of funds through ‘Super Transfer’

Two methods that can be utilized by customers for transferring funds are:

• Bank Account Transfer – where customers can transfer money from their active account in Warba Bank to the bank account of the beneficiary.
• Mobile Wallet Transfer – where customers can transfer money from their active account in Warba Bank to the beneficiary's mobile wallet.

From the Mastercard side, Mohamed Debbagh, Director, Country Business Development – Kuwait, said: “As we continue to navigate this year, it has become vital to give consumers innovative solutions that enable them to send money easily across the world. The ability to make quick, simple and traceable cross-border transactions is a number one priority for many citizens in the country right now, which is why we are delighted to extend our partnership with Warba Bank for the launch of this service. We will continue to ensure that our international remittance services are agile in their response to consumers’ enhanced need for convenience, reliability and security”