BOSS Money expands remittance service to Ethiopia with direct deposit

By Edlyn Cardoza

IDT Corporation – a global provider of FinTech, cloud communications, and traditional communications services – recently announced its BOSS Money remittance service now offers direct deposit to approximately 40 million accounts across Ethiopian banks. The expanded service, powered by Terra Pay, enables BOSS Money customers in the United States to send cash directly to the bank accounts of family and friends in Ethiopia for receipt within minutes.

“BOSS Money has attracted a loyal following in the Ethiopian diaspora because of our reliable cash pick-up service, low fees, and favorable exchange rates,” said Alfredo O’Hagan, IDT’s SVP for Consumer Payments. “Now, we are pleased to offer direct deposit to 40 million accounts at Ethiopian banks in addition to cash pick up at over 4,600 branch locations.”

BOSS Money customers can transfer up to US$100 to Ethiopia for as low as US$3.99 or up to US$2,999 for as little as US$6.99 through the BOSS Money and Boss Calling apps while taking advantage of BOSS Money’s ultra-competitive exchange rates. The apps are free on the App Store and Google Play. Senders are utilising either the app or the website for the first time pay no fees on transfers up to US$300. Customers in the United States can also send cash from over 1,000 BOSS Moneyretailers across the country.

BOSS Money’s direct deposit option is available to account holders at the following Ethiopian Banks: Abay Bank, Addis International Bank, Awash International Bank, Bank of Abyssinia, Berhan International Bank, Bunna Bank, Commercial Bank of Ethiopia, Cooperative Bank of Oromia, Dashen Bank, Debub Global Bank, Development Bank of Ethiopia, Enat Bank, Lion International Bank, NIB International Bank, United Bank, Wegagen Bank, and Zemen Bank.