Post Office launches cross-country money transfers solution

The SA Post Office has launched a state-of-the-art electronic money transfer system for customers in partnership with the Swaziland Postal Administration.

The service is available from all post office outlets in South Africa and Swaziland, and it allows customers to transfer and receive money across the borders of these two countries.

According to the SA Post Office, this service is available to customers immediately. When a customer makes a money transfer transaction from any of the SA Post Office or Swaziland Postal Administration outlet, information about the transaction is forwarded in real-time, allowing the immediate withdrawal of the funds by the recipient. As an added security the sender may select a secret code of their choice that should be used by the recipient to withdraw the funds.

Ndala Mnisi, Group Executive for SA Post Office’s Retail Division, says that the current system represents a quantum leap over many industry systems where transactions are forwarded in batches at predetermined times. He adds that he believes this service will address people’s needs of sending remittances to families inside the country and to Swaziland.

“Product innovation and pursuit of new income streams form a significant aspect of the SA Post Office Group’s drive to turn the corner, and this service represents one of the many initiatives that will be introduced to the market soon,” adds Mnisi.

The SA Post Office is confident that the new money transfer service will contribute to economic growth in the SADC region and will promote the objectives of the government’s National Development Plan.