Thu Apr 27 07:15:00 UTC 2006
The Shoprite group has announced a discounted banking service available from this Friday 28 April 2006, enabling shoppers to transfer cash through the group’s outlets to anyone, anywhere in South Africa, even if they do not have a bank account.
The money transfer service will be available in the more than 400 Shoprite, Checkers and Checkers Hyper supermarkets operated by the group. It will allow customers to transfer cash instantly from one supermarket to another across the country.
Announcing the new banking service, Brian Weyers, Marketing Director of the Shoprite group, said a large percentage of South African consumers do not have bank accounts and cannot afford the high costs of banking services.
“It is now possible for these customers to send cash to any of our supermarkets in South Africa for collection by a relative or dependant at a very affordable rate.
“The money transfer service is available at the Money Market kiosks in-store nationally. The transaction is safe, instant and totally secure – it is provided in association with Capitec Bank, an authorised financial services provider.
“All the sender and recipient will need is their original I.D. book and a copy of the I.D, as well as the money to be sent. The recipient then simply collects the money at the store of their choice using a secret pin. It’s that simple!” said Weyers.
Customers will be able to send cash to a maximum of R5000 per day and R25,000 per month, according to Reserve Bank rules. The cost of the service to the customer will be only R9.99, far cheaper than any other similar product in the market, and is a fixed fee regardless of the amount.
Weyers added, “At R9.99 this service is up to 50% cheaper than similar services offered by banks and other financial institutions, and is another step in our objective to offer lower cost financial services to our customers.”