EURO GIRO
EURO GIRO is a global community of postal and financial organizations, bridging the digital and physical world.
It is an international electronic funds transfer system between the postal services of the member countries.
It majorly targets:
- Expatriates
- Immigrants (pensions, remittances)
- Students studying abroad
- Small and Medium Enterprises
Advantages include;
- Extremely secure and reliable service
- Minimization of transmission and payment time to 2 days
- Ability to send amount in a GIRO account
Posta Uganda has partnered with EUROGIRO to offer remittance services through the EUROGIRO FINANCIAL SUPERMARKET. In this financial supermarket, Posta Uganda will offer services like, mobile money transfers, agency banking and international money transfers.
How To Apply
The paying party with a giro account sends a request to pay the payee (called a giro transfer) to the giro agent in this case Posta Uganda
The agent verifies that the funds are available, debits the payer’s accounts by the amount requested, and credits that amount to the payee’s account.
For payers without accounts, the payer presents the amount typically in cash that they would want to transfer to the payee
The giro agent then sends the giro transfer document to the recipient, and an updated account statement to both the payer and payee for those with giro accounts
To receive the funds transferred to them physically, the payee walks to any EURO GIRO agent and presents a payment reference number received through the transfer document that was sent to them. The agent then pays out the amount transferred to the payee.
Pricing
While the price can vary, the sender usually only incurs one flat fee.
The receiver is not charged any fees on amounts received