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MoneyGram partners with Metropolitan Commercial Bank on P2P transfers

Metropolitan Bank Holding Corp., the parent company of New York-based Metropolitan Commercial Bank, announced an agreement to create a P2P service that lets bank customers send money through the MoneyGram website or mobile app that goes directly to recipient debit cards. 

The debit card deposit service starts at $1.99 per transfer and lets users send money directly from their connected bank accounts through MoneyGram to another customer's debit card at any time, including weekends and holidays.

"MCB and MoneyGram are well positioned to complement each other's payment capabilities," Mark DeFazio, chief executive officer of Metropolitan Bank, said in a company release. "We believe this partnership will help expand our market share and are pleased to offer MoneyGram users another manner in which they can access the banking system through transactions that are efficient, reliable and convenient."

Metropolitan Commercial Bank operates branches in Manhattan, Boro Park, Brooklyn and Great Neck, Long Island. 

Cover image: MoneyGram