Online processor Neovia Financial plc has launched a new Neteller Money Transfer service, that lets friends and family send and receive money instantly and securely around the world through a user-friendly interface.
With no transfer fees for the receiver, the sender pays a 1 percent transfer fee up to a maximum of $10 USD for the service.
The global remittance market is forecast to be in excess of $300 billion this year, according to World Bank estimates.
Neteller Money Transfer service users can apply for a free Neteller account and send money the same day to anyone with an email address. The service allows people to transfer funds in 20 different currencies to over 180 countries, where Neteller offers a service. It has a wide variety of deposit options including credit/debit card, bank transfer, direct e-Banking, Giropay, iDEAL, and Ukash and will automatically convert the currency for the receiver as well as support multiple local languages.
Receivers of funds are prompted to open their own Neteller account and withdraw via a number of flexible options including bank transfers, cheques, bank wires or through the Net + card which can be used at over 1 million ATMs and 30 million point-of-sale terminals world-wide.
Dan Starr, Executive VP at Neovia said: "The launch of Neteller Money Transfer is Neovia's official offering in the global remittance marketplace, making transfer services such as bank drafts, money orders and cheques redundant.
"If you're settling up your tab with a friend round the corner or sending money to your parents or loved ones around the world, you want the money to get to them as soon as possible, safely and with minimum charges. We know how to move funds and we know how to do that quickly and securely."
Consumers can sign up for the service at Sendmoney.neteller.com.
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