Sampath Bank joins Moneygram network

Sampath Bank took another step forward by teaming up with Money Gram International to be one of its local partners. With this venture Sampath Bank will make available all its 97 branches as payout locations for MoneyGram linking up more than 104,000 locations in 170 countries instantly to our branch network on line real time, a media release from the Bank said.

Money Gram's network consists of Canada Post-Canada, Posteitaliance-Italy, Wall Mart - USA, May bank - Malaysia and Post Office UK which assure a fast and reliable service for Money Gram customers.

Money Gram adopts a simplified procedure in processing transactions across borders. The sender will have to visit one of the Money Gram outlets in the host country, and provide a photo ID and submit a beneficiary's full name and NIC details. If the NIC details of the beneficiary are not available a sender has the option to use a test question and an answer to verify the authenticity of the beneficiary at the paying out location.

After the cash is handed over to the sending Agent and the sender the beneficiary details will be entered to the Money Gram System. The system will then generate an 8-digit PIN number to be forwarded to the beneficiary via a Call, SMS, e-mail or fax.

With this PIN number the beneficiary should go to the closest Sampath Bank and collect the payment by providing his or her NIC. If the receiver uses a test question, the beneficiary should answer the question in addition to providing the above details, the release said.