As earlier reported, Universalbank signed an agreement with Migom money transfer system in the end of March 2011.

Migom money transfer became third international money transfer system, services of which are offered for customers of Universalbank.

Migom is money transfer system for individuals without opening account. It was created by European Trust Bank. Currently, the system has over 15,000 partners in 3,700 cities of 16 countries.

The advantages of Migom are speed (no more than 1 minute), low commission fee (from 2%), guarantee of money security, advanced information security, etc.

Clients can use new service at eight mini-banks and two branches in Tashkent, Qoqand and Fergahana region.

Universalbank said that new service will be launched in next two weeks. Currently, Universalbank is offering Western Union and Bystraya Pochta.

Universalbank private open joint stock commercial bank was founded on 25 May 2002 with charter capital of 0.05 billion soums on the base of Qoqand private open joint stock commercial bank. The headquarters of the bank is located in Qoqand city, Ferghana region of Uzbekistan. The main clients of the bank are small and private businesses, as well as retail clients. As of 1 January 2011, the assets of the bank reached 33.8 billion soums.