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By Rosemarie Gordon-Cole
Did you know that remittances and money transfer to Jamaica is currently the largest foreign exchange earner?
Yep, and it continues to be all over the media. Next in line is tourism.
Thanks to the various money transfer systems and services that enable the diaspora & friends to send money back to this our beloved island.
As it relates to wire transfer, most if not all banks provides this service.
Of course, in order to do this though you must be a member of that particular bank which is a fairly easy process to set up and can be done within a single business day.
But even if you do not have a bank account, trying to connect to family and friends in a financial way is still one of the easiest thing to accomplish on your “things to do list” nowadays.
The following companies are some of the popular agencies that makes it possible to do this from the comfort of your special
easy chair with the use of your telephone or the internet.
Or, if you are like my mother, and prefers to stay as far away as possible from the computer, then a visit to any of the numerous licensed organizations listed below enables you to do just that with a personal touch.
These are the ones most widely used:
Most of the organizations listed above acts as agents for Western Union or MoneyGram.
By the way, how much do you know about these two organizations?
Western Union has been around forever - I mean like more than 160 years, and has about 485,000 agent locations spread out over 200 countries, yes including the US, CA and UK!
It started in New York and was called New York and Mississippi Valley Printing Telegraph Company, the name was later changed
to Western Union.
GraceKennedy Remittance Service Ltd. a subsidiary of Grace Kennedy Group of Companies is the exclusive agent for Western Union in Jamaica. This marriage was consummated some 20 years ago.
Western Union lines can be long, especially on weekends, so it will definitely be a drag and take up a good portion of your day. To avoid this you can choose to use their online services to send and receive money. The sign up process and fairly quick and easy and if you run into any trouble customer service is just a phone call away. Even if you choose to join the long lines at the different Western Union outlets, their online platform can still offer you some assistance as you will be able to check if your money is ready for pick up by simply entering your tracking number or to find the nearest Western Union location for you.
Their head office is located at:
Telephone: (876) 929-1331
The second largest money transfer business, MoneyGram has its roots in Minneapolis, USA, and has been providing remittance
services for over 70 years.
It has over 250,000 agents in more than 190 countries and is accessible in Jamaica anywhere you see the MoneyGram sign, which is currently over 200 locations across the island. LASCO Financial Services Limited is the sole agent of MoneyGram in Jamaica.
Their head office is located at:
38 1/2 Red Hills Rd, Kingston 10
Telephone: (876) 906-7473
By the way, it is been reported that Jamaica money transfer services are also used by unscrupulous individuals to solicit money from naive victims, but by and large, these media have truly helped to transform Jamaica's fragile economy.
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