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WorldRemit, JMMB Money Transfer launch online transfers to Jamaica

Digital money transfer services WorldRemit and JMMB Money Transfer have partnered to offer bank transfers to Jamaica, according to a press release.

WorldRemit customers can now send money quickly and conveniently to all bank accounts in Jamaica via JMMB Money Transfer, using the WorldRemit app or website. Funds can be accessed on the same day for transactions completed by 3 p.m. and within 24 hours for all other transactions, according to the announcement.

Nearly 1 million Jamaicans currently live abroad, including more than 700,000 citizens residing in the U.S. and 130,000 in Canada. As a result, remittances play a vital role in the Caribbean nation’s economy — the country received almost $2.4 billion in remittances in 2015, according to the World Bank.

"The importance of remittances to Jamaican residents has risen consistently for over 30 years," Ismail Ahmed, founder and CEO of WorldRemit, said in a statement. "Our partnership with JMMB Money Transfer, a trusted and valued partner in the region, will enable us to offer WorldRemit customers more choice, while supporting the transition from offline remittances to safer, faster and lower cost online money transfer options."