MoneyGram Money Transfers Now Available at Oschadbank

People living and working in the Ukraine needing to send or receive money now have new convenient options, thanks to a new agreement between Oschadbank and MoneyGram announced recently at a news conference in Kiev.

Celebrating the addition of Oschadbank, one of the largest banks in the Ukraine, to MoneyGram’s vast global money transfer network, officials from both companies explained the importance of the new agreement, as well as MoneyGram’s impressive growth in the CIS, Israel and Eastern European regions. The agreement to add 2,150 Oschadbank locations expands MoneyGram’s agent network in Ukraine by nearly 20 percent and increases the availability of its money transfer services to more than 13,200 locations, which includes major banks and UkrPost.

"Ukraine and the entire CIS region are very important to us,” said Dan O’Malley, MoneyGram’s executive vice president for the Americas and Emerging Markets. "Dynamic migration flows in this region determine high demand for money transfers, which we satisfy by developing our network and providing reliable and high-quality service.”

Oschadbank’s locations are located in both large cities and remote towns, making access to MoneyGram’s services convenient regardless of what part of the country you are at. MoneyGram services were rolled-out at 2,150 Oschadbank locations beginning on December 6.

”Working with MoneyGram gives Oschadbank the opportunity to cover all the main corridors of the global money transfer market and reach 192 countries through its global network,” said Anton Tutun, Oschadbank’s deputy chairman. "This is a great benefit for the thousands of Ukrainians working abroad who need to send money home to help support their families.”

MoneyGram continues to strengthen its position in the region with network growth, competitive fees and new convenient services. During the news conference, Mr. O’Malley noted that MoneyGram is experiencing market-leading growth in both revenue and network development. In CIS, MoneyGram’s network has grown by 22 percent (up to 32,400 locations) in 2011.

Earlier this year MoneyGram introduced special fees for sending money from some countries in this region, enabling consumers to use MoneyGram’s global leading network at a competitive price. The company also recently launched new products, such as enabling consumers in the Ukraine to send funds in U.S. dollars to CIS countries for a special fee of 2.5% and to other countries at a fixed rate. In addition, the company partnered with VTB on a new service called "Convenient Transfers”, which enable consumers to receive money into an individual’s VTB bank account by calling the bank’s call center.

"We continue to expand our Agents network in the region, grow further MoneyGram brand awareness, and keep analyzing new market trends and our customers’ needs, which we satisfy by developing new services,” said Peter Hnatiuk, MoneyGram’s vice president of Russia, CIS, Eastern Europe and Israel. "In 2012, we hope to expand our cash-to-account service to additional banks, as well as add new online services.”

About Oschadbank, JSC
Public Joint Stock Company "State Savings Bank of Ukraine" is one of the largest financial establishments in Ukraine and has the most extensive network of institutions. It is the only bank in Ukraine that has law-fixed guarantee of complete preservation of citizens’ money and other valuables entrusted to the bank. The first place in the reliability rating of Ukrainian banks of 1st quarter of 2011, according to Standard Rating advertising agency. The winner of 2nd All-Ukrainian competition "The Most Trusted Bank, 2011" held by Banker magazine nomination "Bank as a leader in reliability of retail deposits." Leader of "Safety rating of the largest banks of the first half of 2011" held by the Dengi (Money) magazine. Key figures (01/10/2011): equity – 17.5 billion hryvnas; loan portfolio – 63.7 billion hryvnas; financial results – 384.9 billion hryvnas.

About MoneyGram International
MoneyGram International, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers bill payment services in the United States and Canada, and money transfer services worldwide through a global network of more than 256,000 agent locations--including retailers, international post offices and financial institutions — in 192 countries and territories. To learn more about money transfer or bill payment at an agent location or online, please visit www.moneygram.com or connect with us on Facebook.