Money Transfer Services

Send money to your loved ones from any of our branches

Send money to loved ones or for your obligations


MoneyGram

MoneyGram is a quick, convenient and easy to use global money transfer service working closely with specially chosen agents in 300,000 locations across 197 countries.

BOA-UGANDA Ltd. has worked very closely with MoneyGram to extend money transfer services across the country in our 35 branch country-wide footprint.

We facilitate a secure way to send and receive money to and from your loved ones worldwide; and we ensure that your money gets to where it’s needed quickly.

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Western Union

Western Union has been operating for over 150 years, today with over 486,000 agent locations worldwide in over 200 countries and territories, millions of people trust Western Union to send and receive money world wide.

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MTN Mobile Money

MTN Mobile Money is an electronic wallet service that enables you to send and receive money anywhere in Uganda using your phone.

MTN Mobile Money provides a fast, secure, affordable and convenient way to send money to anyone on their mobile phone anywhere in Uganda no matter the network.

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Airtel Money

Airtel Money is a Mobile Commerce service (money transfer via the phone) that allows you to:

  • Send and receive money across networks
  • Buy airtime for yourself or other person (Airtel customers)
  • Make Payments using Airtel money (utility bills, goods & services)
  • Bank transactions (check bank balances, send money from your phone to your bank & from your bank to your phone or to another bank account )
  • Make ATM cash withdrawal

Airtel Money is accessible 24 hours, 7 days a week from your phone menu and is secure, fast and easy to use.

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Real Time Gross Settlement (RTGS)

RTGS is an Inter-Bank Large Value Transfer (Real Time Gross Settlement) system that facilitates the safe and efficient transfer of large value payments between participants or banks. With time it is meant to reduce the use of cheques as a payment system.

Benefits:

  • Fast and secure mode of transfer of funds (less than 10 minutes)
  • It is a better method of monitoring financial transactions by involved parties
  • Reduces the risk of frauds and forgeries that exist in other payment systems like cheques
  • Reduces the need of bulk movement of cash as physical cash is not involved
  • Enhances the safety and efficiency of payments
  • It is a tool used by government to stabilize the economy through improved monetary policies

Features:

  • Transaction cost: UGX 16,700 regardless of the number of transactions on an application form.

SWIFT

This is an acronym for Society for Worldwide Inter-Bank Financial Telecommunication. It provides a means of facilitating interBank financial transactions and is fast, safe and secure and reliable.

Benefits:

  • Anti Money laundering policies
  • Anti-terrorists policy
  • Know your customer policy
  • Automated electronic messages
  • Standardized financial messages
  • Reliable & fast
  • Internationally recognized, accepted and tested
  • Facilitates transfer and receipt of funds and other financial messages among Banks worldwide

Electronic Funds Transfer (EFT)

This is a payment system used to transfer funds from one account to another between financial institutions within a quick period of time. It targets bulk payments to various entities i.e. salaries and utility payments.

It is composed of two types:

Debit Transfers
Upon customer’s request, their account is debited with funds then transferred to another account in another financial institution

Credit Transfers
Upon customer’s request, the customer’s account is credited with funds that are received from the customers’ debtors following an agreement independently arranged between the customer and his debtors.

Benefits:

  • Facilitates secure transfers of funds between Banks
  • Faster payment system than the cheque payment system (within 8 working hours)
  • Affordable payment system
  • Appropriate payment system for salary payments and standing instructions

Features:

  • Transaction cost: UGX 2,500
  • Bulk salary processing: UGX 2,500 for each transaction in a batch with a minimum charge of UGX 10,000 for each batch processed