Royal Bank of Scotland Group PLC's National Westminster Bank has introduced commission-free international mobile phone fund transfers for customers wanting to send remittances to Poland.
The service is available only to NatWest customers who have "welcome accounts" designed for Polish immigrants to the United Kingdom, the banking company said last week.
NatWest customers can transfer funds into accounts at Poland's PKO Bank Polski SA, the bank said. Customers who want to use the service must install the bank's mobile phone banking service.
NatWest said it hopes to capture a bigger slice of the Polish remittance market, which the bank estimates is worth about $1.4 billion annually. It also said it hopes to expand the service to other countries but did not name them. Source
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