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GTBank Direct to Account for Ria International Money Transfer

Press Release

Kampala, Uganda – August, 2020

 

Guaranty Trust Bank (Uganda) Limited (GTBank, Uganda), a member of the Nigerian based Pan African banking group, has partnered with Ria International Money Transfer to introduce a Direct-to-Account service for the beneficiaries of Ria Remittances in Uganda. This is a pioneering initiative to bring convenience for beneficiaries of Ria International Money remittance in the country.   

 

Under this new partnership, beneficiaries of remittance from Ria International Money Transfer will benefit from the convenience associated with Direct-to-account by having their accounts in GTBank credited. This would be achieved without those beneficiaries leaving their homes or offices. They can thereafter withdraw their funds at their own convenience using any of the other bank channels e.g over the counter, through the Automated Teller Machine (ATM) or via mobile wallets.

 

While this service is currently restricted to beneficiaries of Ria Money Transfer who have accounts in GTBank, efforts are at the advanced stage to extend the service to beneficiaries that have their accounts in other banks. In essence, when the next stage is completed, beneficiaries of Ria Money Transfer who do not have accounts with GTBank can also be credited directly through the interbank payment system or have their mobile wallets credited. 

 

It would be recalled that GTBank launched its partnership with Ria International Money Transfer in January, 2019 and commenced over the counter payments of remittance to beneficiaries. With the deployment of Direct-to-Account service, the bank has taken the convenience for receiving remittance for beneficiaries of Ria Money Transfer in Uganda to the next level. This is novel in the Uganda market.

 

The Managing Director of Guaranty Trust Bank (Uganda) Limited, Mr. Lekan Sanusi commented,” Our drive is to continue to use digital innovations to improve customers’ convenience and safety. Under the current pandemic challenges, a Direct-to-Account/ Direct-to-Wallet is a superb response as customers and beneficiaries attempt to stay safe by avoiding public spaces.’’

 

GTBank also has partnership with other remittance companies such as Western Union, Moneygram and Express Money. Beneficiaries of these other money remittance services can only collect their money across our counters today.  

 

Guaranty Trust Bank (Uganda) Limited is part of the GTBank group with operational presence in 10 African countries and a full-fledged commercial banking subsidiary in the United Kingdom.

 

The GTBank brand has been identified by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world class corporate governance standards, excellent service quality and innovation.

 

Guaranty Trust Bank plc was recently named the ‘Best Bank in Africa 2019’ by Euromoney at its annual Awards for Excellence. GTBank was also named the ‘Best Bank in Nigeria’ for a record ninth time, reflecting the Bank’s position as one of the best managed financial institutions on the continent, with strong and focused leadership that keep the business in a constant state of re-invention and innovation.

End of Release
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