Ria partners with UniCredit Bank in Serbia to offer cash payout

Ria is pleased to announce a new partnership with UniCredit Bank in Serbia. Customers over 18 can now collect cash at any of UniCredit’s 71 locations, without the need for a bank account.

Nikola Vuletić, Head of UniCredit Bank Serbia Retail Division said regarding the agreement, “Due to the high number of people living and working abroad, Serbian citizens consider money transfer services as very valuable. That is why we decided to expand our list of partners and enter into a partnership with one of the global leaders in the sector, Ria Money Transfer. We are very pleased that together we will be able to offer additional benefits to those receiving money from abroad.”

Larry Fogelson, VP of Correspondent Relations at Ria Money Transfer added, “Ria is growing globally, now offering services in over 316,000 locations and 150 countries worldwide. Our expansion in Serbia through UniCredit Bank allows us to reach even more people who require a convenient, secure and affordable way to receive funds from friends and family. We welcome UniCredit Bank to the Ria family and look forward to a prosperous partnership.”

 

UNICREDIT BANK, OTVARANJE NOVE FILIJALE BEOGRAD 2402 2014 FOTO Z.KNEZEVIC

Ria partners with UniCredit in Serbia to provide cash payout at 71 locations across the country. Credit: Z. Knezevic

 

In recent years, remittances have gained greater attention for their important contribution to the economic well-being of many countries.

Serbia has also developed as an important receiver of remittances from migrant workers living abroad. According to World Bank data, these amounted to $3.7 billion in 2014, representing 8.4 percent of GDP, with the top sending countries being Germany, Switzerland, and Austria.

Serbia has also been well-studied, with the World Bank undertaking research on the important Germany-Serbia corridor in 2006. In this report, they especially highlighted the need to facilitate the transfer of remittance flows from informal to formal channels.

Since 2006, Ria has grown its network significantly and has always championed the need for competitive, secure and affordable money transfer services for everyone. This also encourages the use of formal channels.

As always, we will continue to facilitate the flow of remittances to those that need them most and help to maximize the impact of remittances which play an essential role for many people, communities and families in Serbia and beyond.