Since we live in a world that is very much inter-connected to one country to another, and in the age pick to its advanced technology, so there are available multiple ways to send money to Uganda from any parts of the world. There are a number of expatriates and immigrants live in outside of Uganda, who repeatedly need to send money to their family members and others living inside of Uganda. In a recent study, it finds that nearly 30,000 (Thirty Thousand) Ugandan are living in USA apart from a notable number living in Europe, frequently use money transfer system to send money to Uganda.
Yet, the process of sending money varies from on person to another depending on their choices and level of requirements. Sometimes the choice of sending money also relates times, fees, sourcing availability etc., specially those who are in urgent need of money, doesn’t care about the amount of fees, even it is bit higher.
In the line of that, two major money transfer systems are banking transfer, or through money transfer company that has service availability between the sending country and the ultimate destination of Uganda.
Comparison: Best Transfer Money to Uganda
First Transfer Free!
- Transferwise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.
Five Transfers Free!
- A world-class customer service, very good exchange rates and permanently favorable transfers abroad and to Germany convince. Only downside is the small selection of countries.
Send money very fast!
- Save up to 90% compared to banks. No hidden costs. Large selection of countries.
First Transfer Free!
- Azimo is a very competent partner for the international transfer. Azimo has a large selection of countries and the transfers are safe and cheap.
What is the Process of Sending Money to Uganda
As we have already mentioned that technology made the transfer system more easier than previous time, so it is not too difficult to send money to Uganda at present time. Here, we are providing you a clear picture of sending money that will definitely remove your confusion, rather give you more confidence to send money in a very easy way.
- Opening an Account: This is the very first step to send money to Uganda, whether through bank or money transfer company, you need to open an account proving all of your information asking by regarding authority or as per their local procedure and documentation requirement. After a verification process, you will be finally confirmed your authority and provide capability to send money to Uganda.
- You Must Aware on Your Transaction Details: This is very key part to fix your amount that how much amount of money you are going to send, and accordingly fill up the amount & currency along with the other information correctly as to mover to the next process.
- Filling Up of Exact Receiver Information: Once you finish the information of amount of money and currency, it is very important to provide the correct receiver information very carefully, any mistake happens there, could lead you an unsuccessful money transaction. This is the information, using which the actual receiver could withdraw the money without any hassle from the location point of Uganda.
- Payment of Transfer Fee or Commission: At this stage of sending process, you need to pay the banking commission or transfer fee, so that the authority can finally start processing of transferring your money. All these processes you done, you will be provided a verification code, using which you can monitor the transaction process at online in real time view, even it also requires in most of the time while withdrawing the money in Uganda, and at this point you need to provide the verification code or security code to your receiver.
- Withdrawing Money at Uganda: So, you have done all the required process to send money to Uganda, now it is matter of few moments or times while finishing all the processes by sender authority and the local gateway finally confirm your money reached at Uganda without any obstacles. Once, all are confirmed, sometimes the bank or money transfer company provides a confirmation message or simply a phone call to your receive and ask to collect the money money.
Send Money to Uganda Through Bank
As banking channel is the most authoritative & trusted way, recognized in the world by International Monetary Fund(IMF) or World Bank, also it requires some sorts of financial agreement related to the banking channel, you can easily send money to Uganda. What you need, is to investigate a little whether money transaction is approved or not through your desired bank from the sending country. Still, sending money through Bank is sometimes cost saving and comfortable. For example, it may require $4 as fees while sending $100 to Uganda in a normal process, but it can different based on the situation.
Money Transfer Provider or Company
There are multiple money transfer companies that you can easily have from United States , United Kingdom or many European countries. Though each one of them have unique characteristics and services, but you should select carefully based on some criteria as mentioned below:
What is the Exchange Rate?
You definitely wish to have the best offer among so many companies, just need to check a little to their websites, who is giving you the best exchange offer. The better exchange offer you select, the bigger amount of money your receiver will receive in Uganda.
- Comparison of Fees: As it takes an amount of fees on every transaction process, so should also check the fees of each of the company, and choose the money transfer company who takes comparatively lower amount of fees but at the same time they must have a good reputation and service quality.
- Transfer Method: Apart from the above points that have already noted, you better aware on the transfer method of the money company, as it varies from one another, like some companies offer online transaction & withdrawal, some others provide hand delivery, mobile cash, or even may have mobile apps with which one can easily withdraw money from their local point.
Time Requirement to Send Money to Uganda
You may find some service providers deliver your money instantly taking help from online system, whereas some other companies may take a day to accomplish your transaction. Though you have the opportunity to know this time frame before sending your money to Uganda.
Limits of Amount & Collection of Money
Obviously, there are limits and number of transaction, while they are differs from one company to another. With all of these processes, your receiver can able to take the money and facing no problem.
How Much It Cost Sending Money
Almost all the transfer companies or bank charges an amount, which is not actually a big different from one another. In a general view, they take $4 on transaction of every $100 you send to Uganda.
Duration of Money Transfer
As it is already discussed, through multiple channel of money transfer, it may take few moments or a day while finishing a transaction process. At the same time, transaction through banking channel, it requires more than a day to complete all of their internal process.
Name of Some Companies Who Provide Money Transfer Facility.
Here, we have listed some top rated money transfer companies who are ready all the time to give you their best services such as:
- TransferWise: They are good in fees & exchange rate, with high level of credibility & security.
- Azimo: They have awesome level of service and coverage with good customer satisfaction etc..
- InstaRem: Better level of transparency with customer satisfaction, security credibility etc.
- TransferGo: Better level of transfer & exchange rate with good customer satisfaction etc.