How does the recipient access the money, when their bank account (if they have one) is in the local currency?
This service is to simply and quickly transfer funds into existing bank accounts of individuals. It is not oriented towards specific banks or organisations. When using Penny Transfer, PennyTel Customers will be required to log into their PennyTel accounts and under the Penny Transfer feature will be required to set up beneficiaries. It is here that you will be required to setup the Bank account details of the recipient and specify the bank name, account number etc. After this you will have to select the recipient and then are able to transfer to their Account. This will enable the recipient to access the fund as normal from their nominated Bank Account. Direct Debits can also be set-up in similar manner.
