DUBAI, United Arab Emirates - Travelex, in conjunction with Jordan's Jawdat, Raja & Makram Al-Alami Exchange Co. and Visa International, has launched a service called Cash Passport Money Transfer in Jordan.
The partnership between Travelex and J R & M Al-Alami Exchange (Amman Exchange) allows remitters to deposit funds through any of the three Amman Exchange branches. Following this, a Visa ATM card will be couriered free of charge to the recipient, who can obtain cash directly from any of 800,000 ATMs worldwide displaying the Visa logo.
According to a news release, the service caters to the burgeoning Jordanian expatriate market.
"This product will especially benefit foreign labor in Jordan who constantly remit funds to their families abroad," said said Makram Al Alami, JR &M Alami. "Also, a large number of Jordanian students study outside the country, which makes this form of money transfer of great advantage to their sponsoring parents."
Rob Groombridge, general manager for Travelex Middle East said Jordan is the second country in the region to introduce Cash Passport Money Transfer, following the service's successful launch in the UAE last November.
The cost of initial registration inclusive of courier charges is U.S. $10. The card is reloaded at a cost of U.S. $5 per deposit. Initial ATM withdrawals made by recipients are free of charge and thereafter cost U.S. $2 each.
