A telegraphic transfer is an electronic Instruction to send money from one bank account to another – either within Tanzania or to a foreign country.  Transfers are usually faster and more convenient that cheque clearing.

Features and benefits

• A transfer is a convenient way of sending and receiving payments at a competitive rate.
• Transfer of funds in Stanbic Bank Tanzania can be undertaken through IMT (Internal Money Transfer) or externally through Money Gram.
• Minimum charge is applied on transfers.
• Transfers can be used for various purposes, such as personal remittance for goods and services.
• Both senders and recipients do not necessarily need to have a transactional account with Stanbic bank (with the exception of foreign transfers which require the sender to have a transactional account).

Who can apply
Anyone wishing to send or receive funds at home or abroad through Stanbic Bank Tanzania can do a transfer.

Documentation required
No documentation is required for a local transfer – but the recipient must present a valid document for identification purpose.

For foreign transfers, the sender must have a transactional account (current or savings account) with Stanbic bank and provide the necessary details of the recipient in the destination country.