Following CBE Approval, Rimmit Launches Western Union APN service for Direct Deposits to Bank Accounts and Mobile Wallets
Rimmit, the leading international money transfer company in Egypt, has announced the launch of its Account Payout Network (APN) service for direct deposit of inbound money transfers, following approval from the Central Bank of Egypt. The new service enables customers abroad to send remittances directly to recipients’ bank accounts or mobile wallets in Egypt through Western Union’s global financial network spanning more than 200 countries and territories, including hundreds of thousands of retail locations and a range of digital channels.
The new service offers a faster and more convenient remittance experience by allowing customers abroad to select direct deposit to the beneficiary's bank account or mobile wallet at the time of sending. Funds are deposited instantly upon transfer, eliminating the need for beneficiaries to visit a Rimmit branch or complete any additional steps. Beneficiaries are also notified immediately once the funds have been successfully credited.
The APN service launch marks another milestone in Rimmit's ongoing commitment to enhancing money transfer solutions by providing customers with faster, more seamless, and more flexible ways to receive remittances, while ensuring full compliance with the regulatory framework established by the Central Bank of Egypt.
With more than three decades of experience in the money transfer industry, Rimmit serves more than one million customers annually and processes over four million transactions, facilitating inbound remittances exceeding USD 2.4 billion through a nationwide network of 177 service points covering all governorates across Egypt.
Dr. Moustapha Sarhank, Executive Chairman of Rimmit, said: "The launch of our APN service with Western Union marks another important milestone in Rimmit's journey to continuously enhance our money transfer services and deliver more efficient and convenient solutions for our customers. This achievement reflects our commitment to innovation and service excellence. It ensures that our offerings continue to evolve alongside our customers' changing needs while reinforcing Rimmit's position as a trusted partner in the money transfer industry, guided by the highest standards of quality, compliance, and operational excellence."
Abd Allah El Sada, CEO of Rimmit, commented: "This service has been designed to make sending and receiving remittances easier than ever. The APN service allows customers abroad to send remittances directly to beneficiaries' bank accounts or mobile wallets in Egypt through any Western Union channel including retail locations and digital platforms worldwide. Once the transfer is sent, the funds are credited directly to the recipient’s bank account or wallet, without any additional steps or action required. We believe that simplifying the customer journey is one of the key pillars of our service development strategy."
Ismail Sarhank, Deputy CEO of Rimmit, emphasized: "This launch reflects Rimmit's broader strategy to advance the development of its digital financial services ecosystem by leveraging technology to deliver a more efficient and seamless customer experience. It also strengthens the speed, reliability, and accessibility of our services in line with the rapid evolution of the financial services sector."
The launch of the APN service underscores Rimmit's ongoing commitment to expanding its digital capabilities and delivering innovative remittance solutions that meet the evolving needs of customers both in Egypt and abroad. By providing faster, more flexible ways to receive money transfers while maintaining the highest standards of security, quality, and regulatory compliance, Rimmit continues to drive innovation in the money transfer industry
