News

Monex currency conversion service now live in Portugal

July 1, 2013

Monex Financial Services announced that its Dynamic Currency Conversion solution is now live across the SIBS network of 14,000 ATMs throughout Portugal.

The partnership with SIBS allows international cardholders to withdraw funds at Portuguese ATMs while still being charged in the home currency of their card.

"This partnership with Monex allowed us to enhance the Multibanco network functionalities available to users, delivering greater convenience to travelers that use our network," said Luís Flores, SIBS' executive director. "Multibanco offers a large range of services to its users, and we are continuously working to offer more services to ease everyday life."

Greg Kane, commercial director for Monex, said the company will continue to develop initiatives to deliver ancillary revenue to SIBS and its clients.

"SIBS has an excellent reputation as an innovative and progressive company within the payments industry, and Monex was eager to deliver DCC as a value-add service to their ATM and merchant network," he said.

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