Bank South Pacific (BSP) has announced that customers at its Fiji branch can now receive Western Union remittances directly into their BSP accounts. This initiative follows a significant partnership between BSP and Fexco Fiji, revealed yesterday.
The collaboration is designed to provide customers with a diverse array of financial products and services while promoting safe handling of funds and encouraging a culture of savings. Rajeshwar Singh, BSP’s relieving country head and chief financial officer, emphasized that this partnership aligns with BSP’s mission to provide cost-effective and modern banking solutions aimed at enhancing financial security and inclusion.
Mr. Singh stated, “This collaboration reinforces BSP’s commitment to delivering financial services that are not only accessible to all Fijians but also aim to help build a more financially secure future.” He added that for those working overseas, the new service streamlines the remittance process, allowing them to send funds directly to their beneficiaries’ BSP accounts. This new system eliminates the need for recipients to wait in line at agents to collect their money, offering them greater flexibility in managing their finances.
The funds can now be accessed safely through BSP ATMs and EFTPoS merchants, fostering a secure approach to savings. Fesakatoa Kostatino, the country manager for Fexco Fiji, praised BSP for this partnership, highlighting it as a foundation for innovation and impactful synergies.
Kostatino remarked, “Our shared commitment to ensuring that every individual has access to efficient and reliable financial services has inspired us to reshape the remittance landscape in Fiji.”