Inward TTS

Telegraphic Money Transfers (Inward TTS)

Telegraphic Money Transfers (Inward TTS)

These is the electronic transfer of funds in and out of the country.

Product Features

  • Electronic transfer of funds in the country
  • Processed in USD, EUR, NGN, KES, GBP, & Zar,
  • Funds are credited to the beneficiary between 1-3 working days from the date of wiring (the transaction)
  • Inward Transfer charges as per the bank tariff guide
  • Funds received can be returned in case of failure to receive due diligence confirmation from correspondent bank or KYC report from the domicile branch within five working days
  • Funds received with incomplete details that don’t tally with the bank records are returned on the same day

 

 

Benefits

  • No cash handling risks
  • Fast, safe and reliable
  • Facility convenient for movement of large sums of funds
  • No Risk of forgeries as no cheque issuance is involved
  • Worldwide coverage

Requirements

  • Beneficiary MUST be an account holder
  • Beneficiary should avail sender with full correspondence details, i.e. beneficiary name, beneficiary a/c number, SWIFT code of the bank and correspondent bank details depending on the country of origin
  • Beneficiary should provide customer remittance confirmation copies on request through the branch