Money Gram
We know Money Gram is your favourite! We are one of the 350,000 global agents providing you with reliable international cash transfers to customers and family from the ease of our banking halls. Just walk in and send that cash.
Reach: Worldwide
- Available currencies – KES, USD, GBP, EURO, UGX, TSH, INR, JPY and others
- Types of account – individuals, corporate, governments, non-governmental organisations, banks and financial institutions
- Eligibility – resident and non-resident
- Age Requirement – 18 years and above
- Duration – spots based on the current global rates
- Account deposit – No minimum. An amount of more than 5,000 USD is subject to a special rate from the treasury.
- Mode of Deposit – cash or transfer from an account
- Delivery Channel – for individuals it is at the branches (to be credited/debited from client account) and for a financial institution or bank it is transferred through the interbank link
- Statement – invoice for any purchase above Kshs. 10,000 equivalent of USD
- The daily rates are linked to spot rates obtained from the forex market and information on the same is available from the dealing system
- SME and Corporate customers can deal directly with GAB or through Relationship Managers (RM’s) subject to signing off the dealing mandate.
- For customers – swift charges and for banks no charges
- No commission
- Retail Customers – selling or buying instruction obtained from customer through the branches
- Corporate Customers – selling or buying instructions
- Banks – repurchase agreement
- Dealing Mandate
- Customer should have an account with Gulf African Bank
- For Retail and Corporate – availability of funds
- For Banks – credit lines limit established as agreed by the ALCO Committee