JN Money has reduced all fees to send remittances via its website www.jnmoneytransfer.com by 50 percent.
The time limited promotional offer allows customers to send money via the site with fees as low as CDN$1 and £1; and will be effective as of September 2nd 2017. Only online customers in Canada and the United Kingdom will benefit from this reduction, while those in the United States of America will enjoy the new rates later this year when the service becomes available in that market.
“JN Money is always seeking new ways to make it affordable to send remittances to Jamaica,” stated Horace Hines, acting general manager, JN Money Services, owners and operators of the JN Money Transfer Brand, which was recently rebranded, “JN Money.”
“Last year we reduced our fees to as low as 1.99 in the respective currencies; and we have now reduced all online fees by 50 percent. We know that the online service will provide affordability and convenience and this is one more way to show our commitment to our customers” he added.
Mr. Hines pointed out that based on research, remittances played a critical role in the lives of many families, and the reduction in fees is timely as many remitters will be sending funds home for back to school expenses.
“Reducing our fees at this time is really great, because it means it will cost less for customers to send funds home to cover costs for the new school year,” Mr Hines explained.
A lower cost to send remittances will benefit many Jamaicans as remittances continue to be one of the major contributors to the Jamaican economy, accounting for slightly over 17 percent of GDP. And, recent data from the Bank of Jamaica revealed that remittance inflows to the country for the period ending April 30, was more than US$674.1 million.
The JN Money Online service also allows customers to send funds to other select countries across the Caribbean such as Antigua, Barbados, Guyana and Haiti.