New Money Transfer System - Only in Azerbaijan and Only in Manats

Azerbaijan has got a new system of money transfers Vector, operating exclusively in the territory of the country. Its initiator is JSC Bank Respublika.

The information on its website says about the convenience and other benefits of the innovation - now it is possible to transfer money to 21 regions at any time an obtain money through a wide network of terminals eManat in any branch of the bank.

"Taking into account the needs of our customers, we decided to create a new product for the local market, to allow a money transfer in the country at any time and in any place. Most internal remittances are made for financial aid or because of the urgent need of one’s relatives for cash, so we rely on the speed and ease of transfers," the Deputy Chairman of the bank Aslan Abbasov said.

According to the report, the procedure is quite simple - in order to send money, find inscription Bank Respublika on the terminal screen eManat in the Banking and Insurance and choose the icon Vector. Enter your mobile phone number to receive an SMS code, which is required in the next phase. After entering the SMS code received from the bank, specify the name, patronymic and surname of the recipient and send the amount by the terminal eManat.

The customer receives a check, which indicates the ID number of the transfer, providing which the recipient can receive cash in any branch of the bank. Transfers within the Vector are made in the national currency. The maximum transfer amount is 3,000 manats per transaction. --17D-