IBA launches Western Union transfers
The International Bank of Azerbaijan, the country`s
leading bank, launched receiving and sending urgent money transfers
for natural entities, without the requirement to open an account in
the Western Union international system, according to the IBA
press-service.
The advantages of the money transfer system are obvious: fast (five to ten minutes), security (cutting-edge data protection technologies), reasonable commission (just 2-3% of the transfer amount), and the ease of filing paperwork (no need to open a bank account).
The Western Union system is a world leader in urgent money transfers and covers countries around the globe; it has over 379,000 outlets issuing and sending such transfers to 200 countries.
All IBA subsidiaries are joining the Western Union system.
Rauf Aghayev, the IBA spokesman, says the bank is already running high-speed money transfers for private individuals without using bank accounts through such systems as Contact, XpressMoney and MIGOM as well as uses its own money transfer systems with IBA Moscow.
The bank is in talks on joining other urgent money transfer systems.
The IBA`s outstanding performance, positive dynamics of its financial indicators and sustainable development in the conditions of economic stability achieved in Azerbaijan have been repeatedly highlighted by the world`s leading financial institutions and have gained international recognition.
The bank was established in 1992 as a successor of the Azerbaijan branch of the Foreign Economy Bank. IBA has a well-developed branch network and provides banking services to both large corporate clients and individuals.
IBA is the only Azerbaijani bank with state participation. The government`s share in the bank is 50.2 percent, while the rest of the capital is held by private shareholders.
The advantages of the money transfer system are obvious: fast (five to ten minutes), security (cutting-edge data protection technologies), reasonable commission (just 2-3% of the transfer amount), and the ease of filing paperwork (no need to open a bank account).
The Western Union system is a world leader in urgent money transfers and covers countries around the globe; it has over 379,000 outlets issuing and sending such transfers to 200 countries.
All IBA subsidiaries are joining the Western Union system.
Rauf Aghayev, the IBA spokesman, says the bank is already running high-speed money transfers for private individuals without using bank accounts through such systems as Contact, XpressMoney and MIGOM as well as uses its own money transfer systems with IBA Moscow.
The bank is in talks on joining other urgent money transfer systems.
The IBA`s outstanding performance, positive dynamics of its financial indicators and sustainable development in the conditions of economic stability achieved in Azerbaijan have been repeatedly highlighted by the world`s leading financial institutions and have gained international recognition.
The bank was established in 1992 as a successor of the Azerbaijan branch of the Foreign Economy Bank. IBA has a well-developed branch network and provides banking services to both large corporate clients and individuals.
IBA is the only Azerbaijani bank with state participation. The government`s share in the bank is 50.2 percent, while the rest of the capital is held by private shareholders.
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