Kuwait International Bank (KIB) has launched a new international remittance service, “Fast Transfer,” exclusively available through its mobile banking app. The service, in collaboration with Visa, enables customers to send funds internationally to predefined beneficiaries’ bank accounts with speed, transparency, and convenience.
KIB is the first bank in Kuwait to integrate Visa Direct Account Capability for its customers, ensuring that beneficiaries receive the full remitted amount without any deductions. The service supports 40 international destinations, offering instant transfers to many countries. It also provides real-time tracking capabilities and competitive foreign exchange rates with no hidden fees or beneficiary deductions.
Mohamed Atef Elshareef, General Manager of Digital Innovation and Data Intelligence at KIB, emphasized that this service aligns with the bank’s commitment to redefining digital banking experiences. Othman Tawfeqe, General Manager of the Retail Banking Department, highlighted KIB’s focus on customer-centric innovation and financial inclusion. Fahad Al-Bader, General Manager of Operations, emphasized the service’s impact on operational efficiency and streamlined international transfer processes.
Mohamed Reyad, Visa’s Country Manager for Kuwait, expressed excitement about KIB becoming the first bank in Kuwait to leverage Visa Direct Account capability, reinforcing Kuwait’s position as a leader in global remittances.
The “Fast Transfer” service is available to all KIB retail customers via the KIB mobile banking app, with plans for future expansion to more destinations and currencies.
