International Money Transfer Services In Uganda

International Money Transfer Services In Uganda

International money transfer means the electronic transfer of funds requested by a sender to a designated recipient that is sent by an international money transfer provider. The most common way of wire transfer is through the SWIFT or Society for Worldwide Interbank Financial Telecommunication network. The SWIFT network is a messaging protocol. It has over 11,000 banks in 200-plus countries in its network. This network is used to send information from one bank to another.

International Money Transfer Services In Uganda

An international bank transfer is when you send money from your account in one country to a bank account in a different country. It is the same thing as an international money transfer. In short, you can either use a bank or a money transfer company. SWIFT is used for international money transfers. Explanation: Society for Worldwide Interbank Financial Telecommunications (SWIFT) is a vast messaging network used by banks and other financial institutions to quickly, accurately, and securely send and receive information, such as money transfer instructions.

In addition to the international transfer fee, a margin on the daily exchange rate is also tacked on to most foreign transfers. This rate is typically around 5% at most major banks, so if you’re sending UGX 38560230.00, you may have to pay up to UGX 1928011.50. If the transfer is not made in Euros, there are SWIFT transfers (international bank account identification code), the execution time of which can take between 2 and 5 days.

The International Bank Account Number (IBAN) or account number of the person or company receiving the payment. the name and address of the bank receiving the funds. You can use the bank where you have a checking or savings account to conduct your international money transfer or open an account with various companies that specialize in sending money, such as Western Union, MoneyGram, PayPal, Xoom, TransferWise or Paysend. The fees for transferring money can add up quickly.

The cheapest way to send money internationally is to transfer funds directly from your bank account to a recipient’s bank account. Most transfer services charge additional fees for debit card or credit card payments and cash pick-ups. Credit card payments will incur additional charges from your credit card provider. Remitly, Wise, and WorldRemit have statistically been the quickest ways to send money overseas, according to Monito’s money transfer comparison engine. Remitly delivers cash fast, Wise sends very quick bank transfers, and WorldRemit specializes in fast cash pickup.

List Of International Money Transfer Services In Uganda

Below Are The Partial List Of International Money Transfer Services In Uganda

MoneyGram

 The Arcade, Kiyembe Lane, Kampala, Uganda

Plot 17, 19 Kampala Road, Kampala, Uganda

+256 31 4387337

MTN Mobile Money Uganda-AG IVESTMENTS FINANCE LTD

 Zana, Namasuba Road, Kampala 256, Uganda

+256 781 348121

Equity Bank Uganda Limited – Head Office

8H7H+9Q4, Kampala Road, Kampala, Uganda

+256 31 2327000

UNIMONI EXCHANGE SERVICES LTD

TransNile Link Building, Plot No 10, Shop No L4.42 Johnson Street Arua Park, Kampala, Uganda

+256 39 3202880

Global Money Transfer Services

Acacia Place, 4th Floor Room AC79, Kampala, Uganda

+256 39 4899756

Felista Mobile Money Services

9J6F+X94, Ntinda Kiwatule Road,Next To Najimu mall, Kampala, Uganda

X-press Money

8H7J+8P6, Kampala Road, Kampala, Uganda

+256 755 010975