New Service: Send Money Via Text Messaging

September 2, 2011 | 8 Comments

Bermuda Residents can now transfer money in minutes to numerous world wide destinations via text messaging.

Bermuda Financial Network [BFN] has introduced new technology that offers international payment options to anyone with the simplest cell phone, to those with more sophisticated devices like Ipads, tablets, smart phones, or computers.

Locals will now be able to pay almost anyone in the world via text messaging on BFN’s new www.SendMoney.bm website. Receivers can get actual cash at over 400,000 locations in over 200 countries worldwide.

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A statement released by the company said, “While systems like M-Pesa in Kenya and Smart Money and GCASH in the Philippines have allowed people living there to transfer money to each other via cell phones, BFN has taken the use of this technology to a higher level and become the first to introduce “Text Message Transfer”, to the world. This BFN- technological development will allow everyone, even those with the simplest cell phone, to send money to a recipient virtually anywhere in the world.”

“This unprecedented initiative represents a major achievement in the extremely competitive and demanding global money transfer environment. This is possibly the most innovative global money transfer method conceived to date.”

“These developments offer the ultimate in convenience. There’s no need for anyone to leave their home or office to send money, using up valuable time and resources. No more standing in long and tedious bank lines or carrying cash around to send money.”

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Comments (8)

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  1. Say Say Say says:

    Hopefully someone will send some money to me.

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    • Alvin Wilson says:

      Stop by Bermuda Financial Network and sign up for the service. We're having a draw and giving away weekly prizes. Your wish might come true.

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  2. MinorMatters says:

    That's just what I need to hear in these economic times...More money being shipped out of Bermuda...just lovely. Thanks!

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    • John Does says:

      OH shucks, and there was me thinking the money I earned in Bermuda which was deposited in my account was mine. I should just not have bought a house overseas or got a mortgage for my family. As Bermuda does not want me long term, or will not let me buy a house I should work in Bermuda for free, and just get my company to deposit the funds in the Bermuda sinking fund so that it pays down that huge national debit. Maybe then the locals may not hate me as much then.

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  3. Julie says:

    It seems like every other week there's a warning about money scams of some nature or another. Might be a handy tool but anything that involves my bank account and the interweb makes me somewhat leery. Please be vigilant with keeping an eye on your finances if you decide to use such a service.

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    • Alvin Wilson says:

      Hi Julie,
      I can assure you this service is safe and secure. It is regulated by the BMA who have as a top priorty the protection of the Bermuda public.

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  4. Boater says:

    I congratulate Bermuda Financial Network for creativity - It is no secret that people from foreign lands working here, do so to send money to needy families back home - that will not change as long as they are here. It seems that BFN has simply found a way to increase convenience and market share - well done guys - wish you the best

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    • Alvin Wilson says:

      Thanks Boater,
      Lots of Bermudians will use this new service as well to send funds to family members and friends. In fact they were the ones pushing for it. Sending a 10 second text, beats waiting in line anyday.

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