MoneyGram Launches Service at Ghana Commercial Bank Locations

July 27 2007 will forever be etched in the minds of Chicagoans as MoneyGram International treated specially invited members of the community to a lavish dinner to announce that they have teamed up with the largest indigenous Bank in Ghana, the Ghana Commercial Bank (GCB) to provide service in all 133 branches of GCB in over 100 towns and rural areas in Ghana.

MoneyGram International and GCB officials are touring selected cities in USA and Canada to announce the money transfer service directly to community leaders in Chicago, New York, Toronto, Atlanta, and Washington D.C. “This is very important news for the many Ghanaians living in the U.S. and Canada,” noted Tony Ryan, president of MoneyGram Payment Services. “Many of them regularly send funds home to Ghana to help their families there. With the addition of GCB’s 133 locations, it makes MoneyGram service much more convenient and accessible to families throughout Ghana who are receiving those funds.”

The GCB executives, who are accompanied by MoneyGram executives during the tour, are also attending community events such as the Annual Ghanafest in Chicago on July 28 and the Annual National Council of Ghanaian Associations Picnic on Aug. 4 in New York. They also expect to visit some of the local MoneyGram agents serving Ghanaians in each of the five cities.

Besides their low transfer fees ($9.99 fee to send from $1 to $500, $14.99 fee for $500.01 to $1000.00 and 2% fee or $20.00 for $1000.00), MoneyGram International is also committed to investing in the African community. MoneyGram has built 40 homes in 9 African countries since 2004 though a partnership with Habitat for Humanity. 14 of the 40 homes have been built in Ghana. MoneyGram also supports Africans in the Diaspora by sponsoring the events of various African organizations and providing business opportunities to African shop owners.

MoneyGram has been expanding its network in Africa over the last few years and now has more than 4,300 money transfer agent locations throughout the continent. The global company network is now at 125,000 money transfer agent locations in 170 countries and territories.

MoneyGram International is a leading global payment services company whose mission is to provide consumers with affordable, reliable and convenient payment services, including money transfer service. MoneyGram has been in business since 1940, with its global headquarters located in Minneapolis, Minnesota, USA. MoneyGram’s international money transfer service allows consumers to safely send money around the world in as little as 10 minutes, subject to agent availability and hours of operation. Its convenient and reliable network includes retailers, international post offices and financial institutions. For more information, please visit the company’s website at www.moneygram.com.

Ghana Commercial Bank (GCB), based in Accra, is the largest indigenous bank in Ghana. It was founded in 1953 and it now has branches in every region of the country. GCB is listed on the Ghana Stock Exchange.