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Asda Money looks to disrupt money transfer market

UK supermarket giant, Asda, has partnered with Ria Money Transfer for the launch of Asda Money Transfer Powered by Ria, covering over 145 countries through a network of more than 317,000 locations. The service is now available online and will roll-out in selected stores across the UK from June. The retailer says that customers will be able to transfer up to £1,800 per day at competitive rates (it will benchmark rates and fees against rivals) with bank deposit, cash pay-out and home delivery options available.

Katie Walley, Head of Asda Money, says: “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 customers’ money goes to their recipient and less goes on fees.’’

 

 

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