WorldRemit, dfcu Bank partnership streamlines Ugandan money transfers
Kampala, Uganda – 17 February 2022 – WorldRemit, a leading global payments company, and dfcu Bank, a leading financial services and banking institution in Uganda, today announced a partnership that makes it easier and faster for Ugandan nationals to process online money transfers.
WorldRemit customers are now able to collect funds in the form of cash pickup at 56 dfcu Bank branches across Uganda, making it easy for families and loved ones to access remittances across the country. As of February 2022, customers will also be able to collect remittances in the form of bank transfers.
Ivan Kanyali, Uganda Country Manager at WorldRemit, re-emphasised the company’s ambition to streamline digital cross-border payments. He said: “This new partnership with dfcu Bank once again confirms WorldRemit’s continued drive to expand its partnership base to make it easier and more accessible for people working globally to send money to their loved ones back home. In particular, it will be a welcomed service especially with the opening of the economy, as it will facilitate faster and simpler payments for those doing business and paying school fees.
“Our money transfer and fund access initiatives pave a smoother road for those who need to manage their finances and remittances between different countries. Launching a partnership with dfcu Bank enables Ugandans working in countries like the United Kingdom, Australia, Canada, and the United States to safely, conveniently, and quickly process their remittances via bank transfers”.
This unique partnership will provide an effective, secure, and practical alternative to the traditional ways of managing remittances and remitting much-needed funds back home to Uganda.
Speaking at the announcement event on 17th February 2022, Miranda Bageine Musoke, Head of Personal Banking at dfcu Bank, noted that while the impact of the COVID-19 pandemic on both the global and Ugandan economies cannot be denied, remittance flows still provide crucial support to many families. In fact, Uganda still ranks among Sub-Saharan Africa’s top 10 recipient countries.
“The partnership between dfcu Bank and WorldRemit offers a much-needed solution, which has the potential to increase access to and use of remittances received by households for greater financial inclusion and investment opportunities.
“dfcu Bank is committed to providing services that will give our customers and the rest of the country the necessary support to revive both their personal lives and businesses,” she concluded.
The beginning of the year is a popular time for the Ugandan diaspora to send remittances back home to their families and loved ones. This money enables them to be more financially equipped for the university and academic school year starting in January. With the disruptions caused by the coronavirus pandemic, remittances bring relief to Ugandans in uncertain times.
WorldRemit is pleased to add yet another banking partner to its ever-expanding network, with dfcu Bank becoming the third financial institution to partner with WorldRemit in Uganda. The dfcu Bank collaboration is another step in its continuous quest to improve international digital money transfers for the Ugandan diaspora.