Today Raiffeisenbanks Rapid Mail Money Order is celebrating its 5th anniversary. After registering the trademark in 2003, Rapid Mail became popular with customers almost immediately, especially amongst citizens of CIS countries working in Russia, who gained a further opportunity to quickly and reliably make an inexpensive and easy money transfer to their friends and relatives.
Rapid Mail Money Order is currently developing under the slogan «Availability and Speed». In the five years of its operation, Rapid Mail Money Order has captured more than 10% of the money transfer market share in Russia and the CIS countries whilst continuing to increase the number of customer service points and further improving the level of service and technology. Currently, Rapid Mail covers practically all the post-Soviet countries.
The pricing policy and service conditions are standardized and do not depend on any particular country or bank operating Rapid Mail Money Order, the recipient may receive the transfer at any customer service point 1 minute after it has been sent.
«Our customers can transfer money from more than 5000 customer service points, which are located in 1,400 towns of 11 countries. In Russia, money can be transferred in 152 towns where there are more than 640 Raiffeisenbank and partner bank offices, said Alexei Abrameytsev, head of the Money Transfer and Payment Services Department. «The high speed of the transfer and the technological systems allow Rapid Mail service to compete successfully with both international and local Russian transfer systems».
ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is the largest foreign-owned bank in Russia, ranking 8th in terms of assets among top Russian banks based on 3Q 2008 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 4th in Russia in terms of private deposits and 6th in consumer lending in Russia based on 3Q 2008 results.
Raiffeisen International operates one of the largest banking networks in CEE. 17 markets in Europes growth region are covered by subsidiary banks, leasing companies and a range of other financial service providers. 14.6 million customers are serviced in more than 3,100 business outlets. Raiffeisen International is a fully consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns more than two-thirds of the common stock. The remainder is in free float, the shares are listed on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the countrys largest banking group.