THERE is a growing market for domestic money transfers as more Jamaicans view it as a safer option to move funds across the island, according to officials of GraceKennedy Money Services — umbrella brand for world-renowned remittance company Western Union.

“More persons are taking advantage of the domestic money transfer. It is more convenient and you have assurance that the money is delivered whereas if you sent it by mail or with a friend it may not reach,” Marketing Vice-President at GraceKennedy Noel Greenland told reporters and editors at the Jamaica Observer weekly Monday Exchange held at the newspaper’s head offices in Kingston.

According to Greenland, this service is one of the best inventions in money transfer world-wide.

“We have to realise that persons conduct business outside of the parishes they reside. It has helped a great deal to make things easier and persons can conserve on gas. Using this service you will spend less to repair your vehicles where the terrain is hilly and there are bad roads,” he said.

Meanwhile, Marketing Director at GraceKennedy Money Services Joan Marie Powell told the Monday Exchange that the convenience of the transfer goes a far way with helping persons who migrate to other parishes for work.

“We have persons who may migrate to Clarendon or St James to do construction work or masonry work but they have families in Kingston to support. Instead of paying the high costs of bus fares they utilise the service which is cheaper than taking the bus,” she explained, “Persons who work outside of their home parishes have obligations”.

Although the domestic money transfer is popular world-wide, only about 15 per cent of the GraceKennedy Money Services consumer market utilise the service. Greenland said he is working to increase the figure.

GraceKennedy Money Services has been in operation for more than 20 years.