MoneyGram teams with Alpha Bank Srbija

MoneyGram International, a leading global money transfer company, today announced an alliance with Alpha Bank Srbija A.D. to add MoneyGram money transfer services to more than 165 locations in Serbia. MoneyGram established its first locations in Serbia last year, and the addition of Alpha Bank doubles MoneyGram’s network in the country.

“Serbia is an important remittance market for MoneyGram,” said John Hempsey, executive vice president for MoneyGram International and head of Europe, the Middle East, Africa and Asia Pacific. “MoneyGram transaction growth has been strong in Serbia this year as value conscious consumers chose MoneyGram for our affordable, reliable and convenient service.”

In 2008, Serbians received an estimated $5.5 billion in remittances according to the World Bank, primarily from Germany, Austria, Switzerland and the United States.

Mr. Periklis Drougas, a member of the Executive Board for Alpha Bank Srbija A.D., said “Alpha Bank is eager to expand our services to our clients by adding MoneyGram’s money transfer service at our locations. The contract with MoneyGram and the implementation of the service throughout our countrywide branch locations supports our regional strategy of constant improvement of the services for our clients. In addition, we’re proud to become an important business partner to MoneyGram, which is recognized worldwide for the quality of its service and providing value to customers.”

All Alpha Bank locations in Serbia are available for MoneyGram money transfer transactions beginning today, which enhances the convenience of MoneyGram’s affordable and reliable money transfer service across Serbia.

MoneyGram’s Hempsey added, “Our growth in Serbia is just beginning. We remain focused on providing the greatest value for global money transfer services in Serbia through highly convenient locations.”

To collect funds in Serbia, customers can visit any MoneyGram agent location, provide the required identification and collect funds in euros in as little as 10 minutes from when funds were sent, based on agent availability and local regulation. Customers can send up to 1,000 euros from Germany to Serbia for a fee of only 24 euros.