Digital payments solutions are slowly replacing the need for physical cash. Mobile and online banking are the new playgrounds for many banks in Uganda. So how does one of the leading financial institutions in the country spice things up to get an edge over the competitors? There is no better way than adding International payments into the mix.
Stanbic Bank Uganda has unveiled a new offering on Online Banking platform called International payments. With this payment option, you can now make foreign currency once-off Cross Border payments outside Uganda direct from your accounts (both Local and Foreign Currency accounts) 24/7.
What are the Benefits of Stanbic International Payments?
- Lower transaction costs
- Ultimate Convenience as you do not need to travel to the branch to make the payment.
- Competitive exchange rates
- Access to your account 24/7
How do I access Stanbic International payments?
- Simply Log onto Online banking.
- Go to www.stanbicbank.co.ug and Click on Online Banking
- Click on “Pay and Transfer” option
- Select International Payments and follow the prompts
- A Stanbic Bank Current or Savings account (Local or Foreign Currency Accounts)
- The beneficiary bank details of the person you are paying. This includes: their Account number, Bank name, Branch name and code and Bank SWIFT code)
- The beneficiary address details
- Reason for payment
- Sufficient funds to cover the transaction charges
International payments, is this a big deal?
The digital world age is taking up the world, expanding its impacts in all sectors of life. International trade payments have moved online. Consequently, anyone can pay for goods and services from someone in another country from the comfort of their home.
Stanbic Uganda’s solution adds to a sea of available payment gateways and last year’s MTN Uganda’s MoMo card. However, being one of the leading financial institutions in Uganda, this might be the most trusted means at the moment given the strong reputation of the bank.