Systems, Inc., a leading provider of consumer money transfers, has been
selected as the money transfer service provider of GWK Bank NV, The
Netherlands. GWK and MoneyGram will provide money transfer services to
consumers at all of GWK’s 65 locations beginning July 2001.
GWK has extensive experience in the money transfer business, acting as one
of Western Union’s most important worldwide agents for the past 10 years.
“After an extensive research project, MoneyGram was chosen as our partner
because of their proactive and flexible approach,” explained Willem-Jan van
den Heuvel, managing director of GWK. “They have already demonstrated their
desire to provide outstanding service to our customers.”
“GWK’s decision to switch providers is a huge vote of confidence in our
service,” said Philip W. Milne, president and chief executive officer of
MoneyGram, “and it brings us a significant ‘win’ in MoneyGram’s international
“With GWK’s excellent reputation, network coverage and experience in the
international money transfer market, we can give MoneyGram customers an even
broader range of options to safely, quickly and reliably both send and receive
money around the globe,” added Mohit Davar, chief operating officer and deputy
CEO, MoneyGram International Limited.
MoneyGram has over 37,000 locations in more than 150 countries around the
MoneyGram transfers are used globally by people without traditional
banking relationships, expatriates who send money to their home country,
traditional bank customers in need of emergency money, tourists without local
bank accounts and others who need rapid and economical wire transfer services.
MoneyGram, which was established in 1988, was acquired in May 1998 by
Travelers Express Company, a subsidiary of Phoenix-based Viad Corp
(NYSE VVI), a $1.8 billion business services company traded on the New York
Stock Exchange under the symbol VVI. Viad owns businesses primarily in the
payment services and convention and event services industries.