A) How does InterCurrency’s money transfer/gift system work?
Step 1: Sender visits our website and selects amount to be sent or the voucher for the gift to be given.
Step 2: Sender transfers/deposits the total amount into the bank account provided by InterCurrency at the time of registration.
Step 3: InterCurrency sends the money or gift to the beneficiary.
B) How do I send the money to InterCurrency?
At the moment, there are two ways in which you can send the total amount (amount to be transferred plus fees) to us:
Bank transfer (cheaper but may take some hours before amount is reflected in our bank): Depositing the money or transfer it (via your bank’s online banking system) to our bank account or that of our representative in the region in which you are. As soon as the amount is booked into our bank account, the amount to be remitted will be sent to the beneficiary via mobile money transfer (i.e. MPESA).
C) How does the beneficiary receive money?
There are at least four ways in which the beneficiary can receive the money sent to him or her through InterCurrency:
1. Mobile money e.g. MPESA: InterCurrency sends the money to beneficiary’s mobile wallet.
2. Bank Account: InterCurrency deposits the money into beneficiary’s bank account.
3. Cash through our agents: Beneficiary visits InterCurrency’s partners and gets the amount handed over to him or her in cash after positive aídentification.
4.Banker’s cheque: InterCurrency procures a banker’s cheque in favour of the beneficiary.
D) How does a beneficiary receive a gift?
InterCurrency issues a gift voucher which the beneficiary can redeem in selected outlets (the list of which shall be made known in advance).
E) How do I know that the sender received the amount?
InterCurrency sends confirmation to the sender’s email address as soon as the necessary amount has been transferred to the beneficiary. Where confirmation is needed, the sender will need to give us his or her email address. It is the sender’s responsibility to ensure that the mobile phone number, bank account and name of the beneficiary are correct so as to avoid any mistakes.