Discover the best ways to make a digital money transfer to Tanzania
As recently reported by the news site AllAfrica, a number of banks in Tanzania recently contributed large amounts of money to help the country’s government in its fight against Covid-19.
At the same time, in an attempt to cut down the need for physical contact, they are encouraging customers to reduce their use of bank branches. Instead, the banks are saying to consider digital alternatives where possible.
Developments in digital banking, mobile money and the rise of smartphones mean that this should not be too disruptive to the people of Tanzania. Instead, it provides a genuine opportunity to make life easier and more efficient.
Here, we discuss the available digital options to send money to Tanzania from UK accounts and what that means for both our customers and their recipients. We also take a look at some of the partners we are working with to help bring Small World services to as many people as possible.
Setting up an account with Small World
Customers wanting to use our services must first set up an account. It is very easy to do and as an added incentive your first transfer with us is fee-free, providing you with even more value for money.
This guide will walk you through all the steps needed to digitally open an online account with us.
Once you have an account you can start making the most of our great exchange and low fees and will be able to send money to Tanzania in a few quick steps.
A mobile wallet is the digital equivalent of a physical wallet – with some added extras. At its most simple, it is a safe place to receive money which has been sent digitally.
All that your recipient needs are a smartphone and mobile wallet account and they will then be able to receive the money that you send to them.
You can do this through a Small World agent, by an online money transfer or through the Small World app.
Important advantages of using a mobile wallet:
1. Contactless: A mobile wallet is an ideal way for people in Tanzania to receive money sent from the UK while reducing face-to-face contact. It is also an instant service, meaning beneficiaries will not have to wait for their money.
2. Safe: Mobile wallets use encrypted software, providing added security and peace of mind.
3. Recipient does not need a bank account: A mobile wallet account is different to a bank account and can be opened with various different providers.
Mobile Wallet partners
By working with respected and established names, we can ensure our customers and their recipients in Tanzania get the best possible service. If you plan to send money to Tanzania with Small World, these are the providers to remember:
- Airtel – Tanzania’s third-largest telecommunications company.
- Vodacam – Tanzania’s leading cellular network company.
- Tigo – a telecommunication company with over 11m registered subscribers
Another option to consider for your money transfer to Tanzania is bank deposit.
You can do this from your Small World account and the money will reach your beneficiaries bank account within minutes.
You can make a bank deposit online, via the Small World app or by calling one of our call centre operators.
As with a mobile wallet, this is a safe and secure way to send money online which means that your recipient can avoid lengthy queues and the need for face-to-face contact in a branch.
The partner we are working with on bank deposit is Equity Bank Tanzania, one of the country’s leading providers of financial services.
These digital options are not only helping the population of Tanzania meet the need for social distancing but are also enabling you to continue to send money to those who need it.
The most popular ways to send money to Tanzania
Our main partners in Tanzania are SWIFT, CRDB Bank, Barclays, Standard Chartered, NBC