National Bank of Canada (NBC) is now offering its clients a new solution of sending money globally. Mastercard and Interac are making it happen as they are going to be the first joint cross-border that will allow clients to send money from Canada to other international banks.
In a press release, The Vice-President of Card and Payment Solutions at National Bank, Gabrielle Cournoyer says, “Our clients will be the first in Canada to access this new solution, offered in collaboration with two of our trusted partners. We’re proud to be part of the launch of this product.”
Cournoyer also asserted that the personal banking clients of NBC will now have a quick, simple, and reliable way to send money from the respective country to anywhere in the world, supported by two of the safest payment platforms.
“Given the current situation, it’s more important than ever to support our clients and offer solutions to make their lives easier,” she says.
The clients will be able to transfer their dollars to 19 Eurozone countries at first. They will also be making addition of around 100 countries afterward. As an added benefit, the service will be free of charge until July 31, 2020, via NBC’s online platform. A fee of $5.95 per transfer will apply after the date passes. The Mastercard and Interac solution will be available for other banks in Canada with time as well. This will allow the customers to send money internationally to bank accounts, mobile wallets, and cards.
On 22nd May 2019, the two payment platforms announced that they were collaborating to provide international transfer services to the customers of Canada.