VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 12, 2015) - nTrust, the rapidly growing online and mobile money transfer platform that helps people around the world access, move and use their money instantly, today announces two revolutionary updates to their fee structure, making the platform the most competitive service for sending money oversees and dollar to pesos exchange.
Recognizing the need for cost-effective international money transfer, the new fee structure eliminates the service fees associated with sending funds abroad, allowing nTrust members to send money to friends and family overseas through either nTrust's online platform or mobile app, or directly to the recipients bank account.
Along with offering the best CAD to PHP exchange rate, nTrust users will also now gain 1.0% on dollars to pesos currency exchanges through the platform:
| Send money overseas for FREE* at the best CAD to PHP exchange rate | |||
| nTrust versus other money transfer services** | |||
| Based on $200 transfer | Fee | Amount lost in currency exchange | Total Cost |
| iRemit | $12.00 | 0.13% | $12.26 |
| Western Union | $8.00 | 0.61% | $9.22 |
| Bank Average | $16.40 | 0.78% | $17.97 |
| nTrust | FREE* | You gain 1.0% | FREE* |
While transfers between a member's nTrust platform and personal bank account are free, nTrust has now also waived domestic fees charged to send money from the platform directly to another recipient's bank account in Canada.
It is estimated $24 billion is sent home by immigrant and migrant workers in Canada annually. As a result, the Canadian Federal Government recently vowed to contribute $6 million over five yeas for better access to safe, reliable and less-expensive remittance services. Now, nTrust is taking this commitment a step further as one of the first service providers to offer free overseas remittance to Canadian residents.
A leader in the pursuit of fair remittance, in 2014 nTrust reduced its fees to meet the World Bank's "5X5" Objective, aimed at lowering the cost of overseas remittance from 10% to 5% to put up to $16 billion back in the pockets of families sending money overseas.
"Our mission is to help people around the world access, move and use their money instantly, and part of that includes the ability to send freely, both domestically and internationally," says Rod Hsu, President of nTrust. "Our technology provides the method, and by eliminating fees we're hoping to provide the means to empower more people to use their money freely."
To send money abroad today for free, visit: https://www.ntrust.com/
About nTrust
nTrust is a rapidly growing online and mobile money transfer platform that helps people around the world access, move and use their money instantly. Using nTrust, members can send money to friends, cash out to their bank account, spend money through their phone, or load funds to a prepaid card to use anywhere the MasterCard® Acceptance Mark is displayed, online or in-person. nTrust's proprietary technology uses the highest encryption standards and is "PCI-DSS Level 1" certified - the top global standard for operational and technical security designed by Visa, MasterCard® and American Express.
*Free transfers for Canadian Members from Canadian dollars to Philippines pesos. Minimum transfer of $5 CAD required. For a limited time only.
**As of February 2015. Source: The World Bank: Sending money from Canada to Philippines. Remittance Prices World Wide
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