ASDA DISRUPTS AND SIMPLIFIES THE MONEY TRANSFER MARKET AND LAUNCHES BRAND NEW REMITTANCE SERVICE

Asda Money Transfer Powered by Ria aims to offer a lower-cost alternative to other well-known money transfer providers
  • New Asda Money Transfer Powered by Ria will allow customers to make payments to over 145 countries in minutes*
  • The service aims to offer more money pound for pound to customers by benchmarking rates and fees against leading money transfer providers
  • Customers pay zero fee for first online transaction and benefit from simplified fee structure

Asda Money today announces the launch of a brand new money transfer service.  Asda Money Transfer Powered by Ria will offer money transfer to over 145 countries through a network of more than 317,000 locations across the world. Customers can make payments in minutes*, and will benefit from competitive exchange rates and low fees starting from £3.

This brand new service and latest addition to the Asda Money suite of financial products has launched online this month and will roll out in selected stores across the country from June.  Customers will be able to transfer up to £1,800 per day at incredibly competitive rates with bank deposit, cash pay-out and home delivery options available.

The new service aims to offer a lower-cost alternative to other well-known money transfer providers, highlighting Asda Money’s dedicated ambition to finding the best prices for their customers. Exchange rates will be monitored continuously, and fees will be among the best in the market. Customers using the online service will be able to calculate the total cost to send money to a specific country using the new Price Calculator and will also benefit from a new simplified fee structure and delivery in minutes* with no extra charge.

What will it cost?

 

Domestic (UK)

Amount of Money Transfer Consumer Fee
£1-50 £3
£50.01 – £650 £6
£650.01+ £11

 

 

International

Amount of Money Transfer Consumer Fee
£1-100 £4
£100.01 – £1,000 £7
£1,000.01+ £13

 

Katie Walley, Head of Asda Money says: “We are very excited about the launch of our new Asda Money Transfer Powered by Ria.  We saw a gap in the market for a service that offered a competitive alternative for so many of our existing customers as well as new customers who regularly transfer money overseas.  For all those who send money abroad on a regular basis, we wanted to provide a solution to the often high prices they have had to pay from our competitors for so long.

We will constantly benchmark our prices against the largest money transfer providers. That not only makes us better value, but also makes sure more of customer’s money goes to their recipient and less goes on fees.’’

Juan Bianchi, CEO & President of Ria Money Transfer, added: “Ria is delighted to partner with Asda Money to provide customers with a fast, convenient, and great value online money transfer service.  Asda Money Transfer Powered by Ria is another example of how Walmart and Ria, by combining our assets and cultures, create more convenience and better value for our joint customers, helping them ‘Save Money.  Live Better.’

Customer experience is at the heart of what we do, and Ria is committed to providing excellent service, combined with the speed, simplicity and security that customers expect when sending money to their loved ones. We look forward to a successful partnership with Asda Money.”

Benefits

  • Cost – We keep our fees low and benchmark our exchange rates to ensure more of our customer’s hard earned money is received by their friends and loved-ones
  • Simplicity – We don’t confuse our customers with countless different fees our pricing structure is simple and transparent with just three price-points depending on how much they wish to send
  • Trust – With Asda our customers can trust that their money and personal details are safe and secure always
  • Stress free – We understand that our customers don’t want the stress of not knowing if their money has been delivered, which is why we offer delivery in minutes* as standard.
  • Convenience – In partnership with Ria, we offer the ability for our customers to send money conveniently to over 145 countries and over 317,000 locations
  • Customer Service – Our dedicated customer service colleagues are just a phone call away to help with any of our customer’s questions

Walley, concluded: “For over 10 years we’ve been providing great value financial products for our customers.  With the launch of our new Asda Money Transfer Powered by Ria service, we’re building on over a decade’s worth of strong growth and experience and delivering even better products for our millions of customers.’’

Asda money continues to provide the best products possible for their 19 million customers including travel money, guaranteed to beat any rate within five miles of the in-store bureaux; breakdown cover; travel insurance, offering free cover for kids and unlimited medical expenses; pet insurance offering quality cover from £4.77 a month and their award winning Asda credit cards offering 1% cashback on all Asda spend.

For more information visit https://money.asda.com/

* Subject to compliance requirements, bank or card provider payment processing and conditions in destination country.

 

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