Pan Asia Bank partners Western Union to offer money transfer services

• Connecting the bank to over 200 countries and territories with Western Union’s fast and reliable global money transfer services

Pan Asia Bank, one of the fastest growing commercial banks in Sri Lanka announced today the launch of the Western Union Money Transfer service via the bank’s branch network. The Western Union Company is a leader in global payment services with presence in over 200 countries and territories worldwide.

Inaugurated today, this collaboration combines Pan Asia Bank’s banking network, which covers 22 of the country’s 25 districts, with Western Union’s extensive footprint in 510,000 Agent locations in 200 countries and territories around the world.

Consumers in Sri Lanka can now have access to Western Union® remittances from almost anywhere in the world in minutes at any Pan Asia Bank branch. As a part of the inaugural service, the first 1,000 customer transactions at Pan Asia bank branches will receive a co-branded special gift to commemorate this special occasion.

“It is a privilege to work with Western Union, a worldwide leader in remittances with an unparalleled retail presence globally and covers every nation where Sri Lankans live and work overseas. With the Western Union service, we can meet the remittance needs of our customers in all corners of the country and around the world. Also, the fact that Pan Asia Bank has been appointed as a primary agent underscores the importance both parties involved to this collaboration,” Pan Asia Bank’s DGM Retail Irishad Ally said.

As one of the world’s largest suppliers of labour, predominantly to the Middle East, Sri Lanka currently has over 1.7 million citizens officially working overseas and supporting their families financially back home.

“Our global workers who are sending money to their loved ones are rendering a great service to the country’s economy and Pan Asia Bank is proud to be able to play a part in making their lives easier by offering a fast and convenient money transfer solution” added Ally.

Currently Western Union’s services in Sri Lanka are offered through over 4,500 locations, operated by retail agents including banks, post office, retail, and telecommunication sector and span the nation’s 25 districts including some very remote areas in the country. Some of these locations operate beyond traditional business hours seven days a week, offering additional flexibility and convenience to Sri Lankans who need to receive money.

“Pan Asia Bank is a significant private sector bank in Sri Lanka in 2012 and adding the bank to our retail network is an important step towards our goal of being everywhere Sri Lankan consumers need us,” added Western Union Senior VP - East & South Asia Patricia Riingen.  In 2012, Western Union moved money into Sri Lanka from 179 countries, compared to only a few when the service was first offered in 1995 – a record that bears testimony to the level of trust in Western Union.

“The ambitions of these overseas Sri Lankans workers are noble and inspiring, as their families use these funds to educate their children, set up businesses, create stronger communities and build a better future,” said Riingen. “We will continue to support these hard-working heroes and their families by facilitating convenient access to Western Union services.”