Azerbaijan's Bank BTB kicks off cooperation with Universal Payment Transfer system
BAKU, Azerbaijan, Sept.24
By Zeyni Jafarov - Trend:
Azerbaijan’s Bank BTB OJSC began cooperation with Universal Payment Transfer (UPT), the international money transfer system, to ensure the transfer of funds to many countries of the world at favorable rates and with the aim of maximum convenience for customers, the bank told Trend.
According to the bank, UPT is operating with more than 400,000 service points located in about 200 countries around the world. Through this system, it’s possible to make transfers to IBAN accounts of individuals staying in Turkey and European countries.
The bank stressed that the system has many advantages, such as the ability to receive funds at any post office in Turkey, fast transfers, affordable rates, choice of currency, reliability, and security of transfer operations, as well as convenient rules of use.
Reportedly, the system’s other advantage is that the client, having applied to the bank service points with his ID card, has the right to send funds indicating the name of the recipient without opening an account.
The bank noted that this year, along with connecting to the new transfer system, it actively participated in the state project of providing the population with free plastic cards to receive a lump-sum aid for 190 manat ($111.7), envisioned for those citizens whose incomes were affected by the COVID-19 pandemic, and 3,500 people used this support.
The bank also joined a new project to support agricultural entrepreneurs, cooperating with the Azerbaijan Agrarian Credit and Development Agency, providing preferential micro-credits to entrepreneurs engaged in agricultural activities.
The transition to a quick lending system for the purchase of affordable housing, which is at the disposal of the State Housing Construction Agency of Azerbaijan (MIDA), can also be considered one of the main projects presented to the citizens of Azerbaijan by the bank this year.
"In addition to all the projects presented, Bank BTB, taking care of the welfare of its clients, provided services during the entire period of COVID-19-related strict quarantine, while strictly adhering to all security measures," the bank concluded.
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