This article explains how to transfer money from a Stanbic account to mobile money. Make sure you read the entire article for a better understanding.
Are you interested in transferring funds from your Stanbic bank account to mobile money? It’s possible to do this although the money will only be linked to the phone number of your choice and not the mobile money account.
Below are some simple steps for transferring money to mobile money from a Stanbic account. We advise that you read the article till the end for a better understanding of how this works.
Transferring money from a Stanbic account to a mobile money account
For this transfer, Stanbic Bank customers can either use mobile banking or online banking.
Online banking
Online banking refers to using a computer, smartphone, or tablet to access your bank account and conduct financial activities.
You can complete tasks such as paying bills and transferring money with it quickly, usually for no cost. There’s no need to go to your bank or make a phone call. Below are steps on how online banking is done.
- First, you must log into Internet Banking and choose “Payments”
- Then click “Buy Instant Money Voucher.”
- Decide the account you wish to send money from.
- Fill in the desired transfer amount.
- Fill in the recipient’s mobile phone number.
- Enter the One-Time Password you received via SMS from Stanbic Bank.
- Verify the transaction’s specifics, then confirm the payment using an Instant Money Voucher.
- For the receiver to redeem the funds, they will receive a 13-digit voucher number, and you, the sender, will also receive a PIN.
Mobile Banking
Mobile banking is categorized under App-based banking, SMS banking, & USSD Banking. In our case, we shall be using USSD services which require no internet connection. Here’s what you need to do;
- Dial *290#
- Click on Instant cash
- Choose the Purchase coupon
- Select the Account Number to pay with.
- The amount of the voucher
- Enter the beneficiary’s mobile number, beginning with 256.
- The confirmation screen for an Instant Money purchase will appear.
- To confirm the transaction, select 1.
- For the recipient to redeem the funds, he will receive a 13-digit voucher number, and you, the sender, will also receive a PIN.
How to withdraw the money once the transfer is completed
- Visit a Stanbic Bank ATM nearby.
- Choose “Cardless Services”
- Select your preferred “Language Option” option.
- Choose Instant Money
- Type your mobile phone number in
- The 13-digit reference number that was supplied to your telephone must be entered.
- Put in the 6-digit PIN that the issuer provided to you.
- To confirm the Instant Money Voucher transaction, select “Yes.”
- You will receive the cash payment. Please that you can only withdraw the whole amount and it’s best to keep your receipt.
Transfer Charges & Costs
- No withdrawal charges
- Sending fee of Ugx 1,500
Conclusion
It’s now very easy to transfer your money right from a Stanbic account to your mobile money. Simply follow the steps we’ve mentioned above and you won’t find any difficulty.
For more information, you can visit Stanbic Bank online or visit a Stanbic Bank office near you.
