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MoneyGram initiates ‘Cash to ATM’ in Bulgaria

May 15, 2014

Money transfer service MoneyGram and Bulgaria's DSK Bank have teamed up to introduce a "Cash to ATM" service that lets the bank's debit cardholders receive funds transfers at more than 850 DSK Bank ATM terminals.

According to a news release from MoneyGram, Bulgaria is one of Europe's largest recipients of remittances. The company cited a World Bank figure of $1.6 billion in transfers incoming from Bulgarians working abroad in 2013, with the bulk originating in Spain, the United Kingdom, Germany, Greece, Italy, the U.S. and Turkey.

"DSK Bank provides services for over 3 million customers, reaching nearly every Bulgarian family, who will now have convenient access to funds sent from loved ones around the world," said Massimo Canovi, VP for Southern Europe at MoneyGram.