Electronic Funds Transfer

Electronic Funds Transfer (EFT) is the electronic exchange, transfer of money from one account to another, either within the same financial institution or across multiple institutions, through computer-based systems.

Requirements

  • Enough funds or credit balance in local or foreign denomination available on the customer’s
    account for transfer.
  • Beneficiary’s names and account details.
  • Name and address of recipient Bank.

Benefits

  • Transfer of funds is faster.
  • Risk associated with the physical movement of large sums of cash is avoided.
  • Convenient and faster.
 
FINCA Uganda Ltd (MDI) is a Microfinance Deposit Taking Institution regulated by Bank of Uganda under the MDI Act 2003.
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