What is money remittance?

Money remittance is a way to transfer or share money in your account with a friend
or family member.

What are the benefits to the cardholder?

No standing in line to transfer money
Cardholders do not need to undergo a credit check – they simply need to provide an address and passport details.
The primary cardholder can instantly share funds with secondary card, which could be with a relative or dependant in any country.
Sharing funds with secondary cardholders is possible by either SMS or using the client website.
Both the primary and secondary cards are accepted for Point of Sale (POS) purchases and for cash withdrawals from ATMs as well as for Internet purchases and services.
As there is no direct access from the card to any of the cardholders other banking details, they are safer from the risk of fraud.

Remittance

‘Money Remittance’ is a convenient, instant and competitively priced international prepaid card product designed to facilitate the sharing of funds between family and friends, regardless of their geographical location.

It’s a product that has already proven hugely successful for The Spectrum Financial Group’s RED88 subsidiary, which specialises in prepaid banking facilities for Chinese communities in the UK and mainland Europe.

No "borders"

Perfect for those who cannot otherwise obtain debit cards via the high street banks, prepaid cards can be issued to practically everyone. Applicants need neither an existing nor a previous bank account. And because there are absolutely NO CREDIT FACILITIES available with the facility, there is no need to delve into credit histories.

Two cards, one major advantage: global transfer security

Money Remittance is a two-card product. It enables the instant, safe transfer of funds from the primary prepaid card onto a secondary prepaid card.

Once the primary cardholder has loaded his card with funds, the secondary cardholder can instantly and conveniently spend the funds in shops or draw cash from ATMs anywhere in the world.

Both primary and secondary cards can be used to make secure purchases locally, globally and online.

Each card may also be used to withdraw currency from local ATMs around the world.

Cost-efficient option for a changing world

Why provide a remittance service?

– The cost of instant transfer of funds is minimal (compared to costly local and international foreign exchange arrangements)

– The labour market within the EU is becoming increasingly transient – Money Remittance is a safe, convenient way for migrant workers to store, share and spend their money.

For more information visit
www.red88.co.uk