Name of the Organization : Absa Bank
Type of Facility : Send & Receive Money Via Western Union,SWIFT & Bank Draft
Head Office : Johannesburg
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How To Send Money Via Western Union?
We offer you fast, convenient and safe ways to send money to or from South Africa with:
** Western Union®
** Electronic transfers (SWIFT)
** Bank Draft
Related / Similar Facility : ABSA Bank Platinum & Gold Cheque Account
Fast and secure options :
** Whenever you need to send or receive money from overseas for business or personal reasons, we offer a selection of fast, reliable and secure options to make payments or receive funds.
Our solutions :
** Need to send or receive money? Depending on your specific needs and day-to-day cross-border payment and receipt requirements, you can choose either our person-to-person or bank-to-bank payment solutions.
Western Union :
** Western Union, a person-to-person transfer, is a fast, reliable and convenient way to send or receive money around the world.
** Through our digital channels (Absa Online and cellphone banking) you’ll have access to over 500 000 Western Union agent locations in 200 countries and territories.
Why should I use Western Union?
** Each transfer can be tracked using a Money Transfer Control Number (MTCN).
** This number is given by the sender to the receiver ensuring that only the receiver can collect the money.
** Positive identification is required to redeem the funds.
** Western Union Money Transfer service uses advanced technology and a unique, worldwide computer network to ensure quick payout.
** Money is available for collection in minutes, subject to agents operating hours and differences in time zones.
** If you are an Absa customer and a registered user you can experience the convenience of sending or receiving money with Internet Banking or Cellphone Banking.
** As this service is only available through our digital channels (internet and cellphone banking), you will need an Absa Bank transactional account in order to make use of Western Union.
** Please contact our branch network to assist you in opening a bank account.
How it works online or for cellphone banking?
** An Absa Online or cellphone banking registered customer (individual only) can make use of the Western Union service by clicking on the International Funds Transfer gadget under the Payments function.
Electronic transfers (SWIFT) :
** A SWIFT transfer (bank-to-bank) is a secure and reliable means of transferring funds to or from South Africa.
** Facilitate a secure transfer of funds from your bank account to an account abroad.
** Absa uses the SWIFT (Society for Worldwide Interbank Financial Telecommunications) system.
** As the name suggests, this system is exclusively used by member banks.
Benefits of electronic transfers :
** It is a secure form of payment.
** It is much faster than a bank draft, should time be critical.
** You are able to stipulate the exact date of payment.
** It is fast and convenient.
** For your convenience, SWIFT payments are now available online.
What do you need make an electronic payment?
** The beneficiary’s bank details, account number, name and residential address.
** Any documentation required by the South African Reserve Bank (SARB).
Bank Drafts :
** A bank draft is normally sent directly to the beneficiary overseas, and is therefore a more personal way of making a payment, since drafts can be accompanied by a letter, invoice or personal note.
** Drafts are useful for sending monetary gifts overseas and for the payment of foreign subscriptions.
** They can also be used for payments for your upcoming trip overseas.
Things you need to know :
** Bank drafts are normally sent directly to the beneficiary overseas, and are therefore a more personal way of effecting payment, since these instruments can be accompanied by a letter, invoice or personal note.
** Drafts are useful for sending monetary gifts overseas and for the payment of foreign subscriptions. They can also be used for the payment of land arrangements for your upcoming trip overseas.
** Drafts can be used as travel funds. Keep in mind that drafts must generally be deposited into an overseas account.
** After drafts are deposited, there is normally a delay of several days for clearance before you can withdraw cash.
** Absa offers drafts in selected major currencies at selected bank branches while you wait.
** Drafts can be stopped if lost or stolen and replacements issued (subject to terms and conditions).
What you need to apply as an Absa client :
** A valid ID.
** Supporting documentation for exchange control requirements.
** If you are not an Absa client, you are welcome to contact us to see how we can assist you.
Contact Address :
Barclays Towers West
15 Troye Street
FAQ On Absa Bank
Frequently Asked Questions FAQ On Absa Bank
Q: What is Absa Bank?
Absa Bank is a financial services company that operates primarily in Africa. The company offers a range of banking products and services, including personal and business banking, credit cards, loans, investment services, and insurance.
Q: Where is Absa Bank located?
Absa Bank is headquartered in Johannesburg, South Africa, and has a presence in several other African countries, including Kenya, Tanzania, Mozambique, and Zambia.
Q: Is Absa Bank a good bank?
Absa Bank has a strong reputation in the African banking industry, and its products and services are generally well-regarded. However, as with any financial institution, it’s important to do your own research and make an informed decision about whether Absa Bank is the right bank for your needs.
Additional Simplified Procedure
There are a few ways to send money via Western Union:
** Online: You can send money online through Western Union’s website or mobile app. This is the most convenient way to send money, as you can do it from anywhere with an internet connection.
** In person: You can also send money in person at a Western Union location. This is a good option if you don’t have access to the internet or if you need to send money quickly.
** By phone: You can also send money by phone by calling Western Union’s customer service line. This is a good option if you’re not comfortable sending money online or in person.
Here are the steps on how to send money via Western Union online:
1. Go to the Western Union website or open the Western Union app.
2. Create an account or log in to your existing account.
3. Enter the recipient’s information, including their name, country, and city.
4. Enter the amount of money you want to send.
5. Select a payment method. You can pay with a credit card, debit card, or bank account.
6. Review your transaction and confirm.
The recipient will be able to pick up the money at a Western Union location in their country. They will need to show their identification and the Money Transfer Control Number (MTCN) that you provide them.
Here are the fees for sending money via Western Union:
** The fee for sending money online or in person varies depending on the amount of money you’re sending and the country you’re sending it to.
** There is also a small fee for receiving money at a Western Union location.
You can find more information about Western Union’s fees on their website.
Here are some tips for sending money via Western Union:
** Make sure that you have all of the recipient’s information correct, including their name, country, and city.
** Review your transaction carefully before confirming it.
** Keep the MTCN that you provide to the recipient in a safe place.
** The recipient will need to show their identification and the MTCN to pick up the money.