MCB Bank partners with WorldRemit for digital money transfers to Pakistan

WorldRemit customers living in over 50 countries can now send money instantly from their phones to over 1,400 MCB branches in Pakistan

Islamabad and London, 30 April 2019: Leading digital money transfer service WorldRemit has joined forces with MCB Bank (MCB) for digital money transfers to Pakistan.

Using the WorldRemit app or website, Pakistanis living in over 50 countries including the UK, the United States and Canada, can now send money home instantly to over 1,400 MCB branches across urban and rural areas of the country.

Transactions to Pakistan via WorldRemit grew by 75% in 2018, driven by the company’s low fees and the expansion of its partner network. The company is now connected to over 6,000 cash pickup points in the country.

MCB is one of the leading banks in Pakistan, serving more than 6 million customers at more than 1,400 branches and over 1300 ATMs across the country. It was recently recognized as Pakistan’s Best Bank by Asiamoney.

Pakistan has the sixth largest diaspora population in the world, with approximately 7.6 million Pakistanis living abroad. According to the World Bank, Pakistan received over $20 billion in remittances in 2018, representing almost 7% of the country’s GDP.

However, experts estimate that a significant portion of remittances sent to Pakistan go through informal channels, such as friends, relatives or other non-recorded sources such as hawala. Transferring money through unregistered third parties can put senders at risk of fraud and delays.

Hamza Islam, Country Director for Pakistan at WorldRemit, comments: “We are delighted to partner with MCB Bank, a leading bank in Pakistan, to enable Pakistanis living abroad to send money instantly to over 1,400 new cash pickup locations across urban and rural areas of the country.

“Transfers to Pakistan via WorldRemit grew by 75% last year as more customers discovered the benefits of our safe, fast and convenient online money transfer service. To encourage even more Pakistanis to try our service for themselves, we are pleased to offer zero fees on transfers to Pakistan of over $210 or equivalent.”*

Ziad Aftab Ejaz, Department Head – Home Remittances at MCB Bank, said: “Remittances are an important source of income for many in Pakistan whose family members immigrate abroad for gainful employment. These remittances not only sustain the livelihoods of households in Pakistan but they also contribute to the economic development and uplift of our society. We are pleased to partner with WorldRemit to enable even more customers to access swift and secure money transfer services. With this partnership, we look forward to further strengthening our innovative product portfolio through superior services and solutions.”

Visit the WorldRemit website for more information on how to send money to Pakistan.

 *For customers sending in currencies other than USD please see WorldRemit website for fee waiver threshold.

Press Enquiries

About WorldRemit

We are a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global remittance brands. 

We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower cost. We currently operate in more than 5,000 money transfer corridors worldwide and as part of Zepz, are part of a 1,400 person global workforce.

Sending money with WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, we offer a wide range of options, including bank transfer, cash pickup, airtime top up and mobile money. 

Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom, with regional offices in the United States, Poland, Canada, Australia, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.

About Zepz

Zepz Group is the group powering leading global remittance brands: WorldRemit and Sendwave. Since 2021, Zepz Group has been disrupting an industry previously dominated by offline legacy players by reducing the barriers to finance and increasing safety and convenience for users. Every day, Zepz Group and its brands work towards unlocking the prosperity of cross-border communities through finance and technology - driven by the vision of a world that celebrates migrants’ impact on prosperity, at home and abroad.

Zepz Group brands have helped cross-border communities send over $15bn from 50 countries, to recipients in 130 countries in 2022, and operate over 5,000 money transfer corridors worldwide. Zepz Group employs over 1,400 people globally as a remote-first employer, with team members located across six continents.