Citibank has entered into a partnership with Banco Bolivariano to expand its remittance services to Ecuador. The partnership will provide Citibank's Ecuadorian clients in the US with the ability to send money to Banco Bolivariano's 190 distribution points throughout Ecuador.
Through the service, Citibank and Banco Bolivariano make sending money back to Ecuador inexpensive and easy to use with one simple form. Citibank clients can send up to $3,000 per day to Ecuador for a flat fee of $5 with no additional costs.
Prospective clients, who do not have an account with Citibank and would like to avail the service, may open an Access Account with Citibank.
Robert Annibale, global director of microfinance at Citi, said: This partnership reflects our commitment to provide our clients with a full range of financial services in both countries.