Telegraphic transfers

What is it?

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

What does it offer me?

  • A convenient way of sending and receiving payments at competitive rates
  • Transfer of funds can be done through Internal Money Transfer (IMT) or externally through MoneyGram
  • Minimum charges apply
  • Transfers can be used for various purposes, such as payment for goods and services
  • Both senders and recipients do not need to have a transactional account with us (with the exception of foreign transfers, which require the sender to have a transactional account).

What do I need to apply?

Anyone wanting to send or receive funds at home or abroad through us can use the service.

No documents are needed for local transfers – but the recipient must present valid identification.

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


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