£ 6.8bn left the UK economy in 2020 in remittances, with customers unknowingly spending millions more. DinoRemit is launched on December 1 to offer customers a new solution.
DinoRemit will provide world-class remittance services to the UK’s burgeoning migrant population. Led by experts in the international money transfer industry, DinoRemit is committed to meeting clients’ money transfer needs – securely, quickly and with attractive exchange rates. https://dinoremit.com/
British migrants continue to support families abroad
With over 9.5 million migrants living in the UK and caring for their loved ones back home, international money transfer services are still in high demand. World Bank data shows the UK is among the top 20 remittance sending countries in the world based on the total value of money sent. In 2020, £ 6.8 billion left the UK in remittances, equivalent to 0.3% of the country’s GDP. UK banks typically charge 3-4% on every international transfer, which means they’ve made millions of dollars from those remittances.
Digital approach to simplify fund transfers
Dinosaur Merchant Bank has partnered with Rational FX to deliver a web and app solution for money transfers. Customers can transfer funds to over 100 countries in minutes. Transfers will cost from £ 2.99 (or equivalent value) regardless of which country you’re transferring money to.
British migrants can take advantage of bank transfers by simply making card payments, so relatives back home can receive the funds easily at their local trusted banks. As the cashless payment landscape continues to gain momentum, mobile wallets are increasingly used by consumers around the world. DinoRemit offers secure and fast * mobile wallet transfers *, protected by encryption software. All transfers are tracked efficiently so customers always know where their money is going.
As a seasoned player in the financial services landscape, Dinosaur Merchant Bank is committed to providing fast, safe and secure money transfers with attractive exchange rates for all of its customers through DinoRemit. In the field of international money transfer services, DinoRemit’s online money transfer options promise to change your world – one transaction at a time!
DinoRemit has partnered with RationalFX to bring the best in technology to customers. The web portal and apps will make the entire customer journey extremely smooth and a simple experience. Rational FX is approved by the FCA as a payment institution. In addition, Rational Foreign Exchange EU, UAB is an EMD agent of UAB PayrNet, an electronic money institution authorized by the Bank of Lithuania.
About Dinosaur Merchant Bank Limited (DMBL)
Dinosaur Merchant Bank Limited (DMBL), established in the UK in 2003, is an independent investment firm which has consolidated its position in the financial services industry. DMBL is authorized and regulated by the Financial Conduct Authority of the United Kingdom. Over the years, DMBL has responded to customer inquiries through the following services: Investment Banking, Trading & Asset Management Services. The company operates in London and focuses on business activities in Africa, America, Europe and the Middle East. https://www.dinogroup.co.uk/about-us
Glenn Grossman, CEO, DMBL
“The ever-growing migrant population of the UK and Europe presents great potential for cross-border money transfers. Remittances contribute enormously to the growth of host countries. Thus, this industry not only makes personal dreams come true, but also helps in the growth of economies. The pandemic has also led to an exponential adaptation of digital platforms. At DMBL, we believe that with our extensive experience in money management, we can positively contribute to the payments space. DinoRemit will be the reliable money transfer partner for the migrant community.
Tenette Abanilla, COO, DMBL
“As a growing investment company, we have always sought to diversify our activities. We believe that the post-pandemic digital economy offers great opportunities to strengthen our position in the payments industry. Individuals as well as small and medium-sized businesses in UK and Europe will benefit from secure and fast money transfers using DinoRemit. The robust technology and strong compliance framework will ensure that the process is transparent. “
Nirav Parekh, Payments Manager, DMBL
“The huge growth of digital channels during the pandemic period has resulted in a drop in remittance volumes of only 1.6% compared to 2019. The launch of DinoRemit is a step towards integration into this digital landscape in constant increase which will also be interesting for the retail trade. SME clients in UK and Europe. Our competitive rates and fees along with a robust platform will enable seamless money transfers to over 170 countries. “