Money Transfer

For years, CIB has partnered with the most trusted money transfer companies to enable our customers have a secure and reliable experience while sending or receiving their moneys. As long as one uses RIA, Western Union and Money gram for money transfers, feel free to walk to any CIB counter to send or receive your moneys.

MONEY-GRAM INTERNATIONAL

operates in more than 200 countries and CIB is one of its agents that render the services of receiving/sending the funds on behalf of customers in Uganda.

Receiving Funds

The beneficiary is required to present an’ Eight’ digit Reference Number or Personal Identification Number (“PIN”), a valid Identification including, but sometimes not limited to:

a: Passport

b: Driving license

c: Voter’s card.

  1. National ID

e: Refugee ID with a photo

f: SPLM Cards with a Seal

Sending funds

If a customer is only sending funds they are required to present a valid identification and fill in a manual form with all the necessary information.

BENEFITS

  • Its Quick, transaction can be received in minutes.
  • Safe, transactions are processed by a reliable system using security codes and a test question known only by the beneficiary and sender.
  • Inexpensive, transactions are cheaper when it comes to charges for transfers.

   RIA Financial Services is one of the largest money transfer companies in the world. It renders the service to send funds on behalf of its customers in more than 150 countries worldwide and CIB renders the service to receive the funds on behalf of the Beneficiary customers in Uganda.

The beneficiary customer is required to present an ‘Eleven’ digit Personal Identification Number (“PIN”) or Order Number, a valid Identification including, but not limited to:

  1. a) Passport
  2. b) Driving license
  3. c) Voter’s card
  4. d) National ID
  5. e) Refugee ID with a photo
  6. f) SPLM Card with a Seal

The other identification Documents like student IDs are acceptable on presentation of additional proof of rightful ownership of the funds; such proofs can be possession/ownership of the telephone number quoted by RIA in the system. In the event that a customer cannot present any of the above requirements he/she is required to ask the remitter to quote the ID type and number in the RIA system through the RIA office that sent the funds. For security, a RIA receiver form as seen below is filled by the recipient.

BENEFITS

  • It offers the best exchange Rates to its clients
  • Transactions are safe because they are secured with a personal Identifier code known to only the sender and receiver
  • Convenient as the customer does not have to hold a bank account to transact
  • All fees are paid by the sender
  • Bank Deposits where funds can be transferred to a customer’s account in another bank.

Western Union is a financial service and communications company based in the United States that allows users to send and receive funds to others in more than 200 countries and territories worldwide. CIB acts as an agent to western union.

The beneficiary customer is required to present a ‘Ten Digit ‘Money Transaction Control Number (MTCN), a valid Identification including:

  1. a) Passport
  2. b) Driving license
  3. c) Voter’s card
  4. d) National ID
  5. e) Refugee ID with a photo
  6. f) SPLM cards with a seal
  7. g) Travel Document with a photo

BENEFITS

  • Funds are received in cash, no need to have a bank Account
  • All fees are paid by the sender
  • It offers a live exchange rate hence having the latest data to stay on top of the market.
  • Funds are received in minutes
  • Pay out usually is in local currency