We execute money transfer to beneficiaries’ mobile phones using the MPESA mobile money transfer service in Eastern Africa. Through this service, we serve parents and guardians paying school fees, investors, importers, donors, those servicing loans, persons paying upkeep for parents or children and salaries of employees. Persons remitting small – medium amounts of money whose needs are inadequately provided for by the established money transfer companies value our services.
With many young adults seeking opportunities in urban centres as well as in foreign countries, the traditional African model of caring for the old is becoming untenable. Thanks to InterCurrency, young adults in foreing countries and other far off places can not only pay salaries or wages to persons taking care of their parents and grandparents but also send monetary gifts to the parents and dependants/beneficiaries.
Almost all clients seek to retain the value of their transfers as much as possible. InterCurrency supports its clients not only by charging low fees but also offering very fair exchange rates. For example, in the case of transfers to Kenya, InterCurrency aspires to consistently offer exchange rates no more than KES 2.00 below the averages on Central Bank of Kenya’s website.
Clients transfer the total amount of money to be remitted to beneficiaries’ to our bank account which is provided to them at the time of registration. Just like InterCurrency, the customer promises to act responsibly, in good faith and within the applicable regulations.