In 2011, approximately $7bn in remittances flowed out of Malaysia, which has presented lucrative business prospects for money transfer companies, according to a World Bank study.
In order to fulfill the growing demands for a reliable money transfer service, MoneyGram is expanding its money transfer locations that now cover the eastern and western sides of the country.
MoneyGram Southeast Asia and Middle East APAC senior vice president Grant Lines said that adding TML to its money transfer network in Malaysia is an important step for the company to offer more access to affordable money transfer services.
Customers will have to fill up a simple form and show a photo identification to transfer funds and the same will be ready to collect in as little as 10 minutes, subject to agent availability and hours of operation, claims the money transfer company.
The company offers money transfer services worldwide and bill payment services in the US and Canada through a global network of more than 321,000 agent locations.
