How to send money from Ghana to Uganda With Yellow Pay

According to the Bank of Uganda (BOU), electronic payments in Uganda made a giant leap in 2021, with a 26% increase from their 6% record in 2019. 

This leap was partly the result of regulatory changes aimed at reducing Uganda's overreliance on cash. This includes reforms such as the National Payments Systems Act 2020, which allows the BOU to issue more payment system licenses today. 

With these in place, sending money within the country is improving. This article shows how Yellow Pay enables swift payments in Ghana, Uganda, and other African countries. 

Growth of Payments Infrastructure in Uganda 

According to the Ugandan government, 80% of payments were made in cash, while the World Bank revealed that only 33% of Ugandans had access to a bank account or other financial account in 2017. 

It further made sending money from Ghana to Uganda hard because cash handling was slow since you had to go to your bank or ATM to get cash and make payments.

This needed to change. Increased access to financial services would restore external stakeholder confidence in the BOU, promote development, increase the size and stability of the country's deposit base, and lead to more financial stability.

This led the government to make efforts and implement strategies to promote financial inclusion in Uganda. These efforts resulted in the launch of Yellow Pay, a financial product that allows you to send money instantly from Ghana to Uganda and vice versa.

Why Yellow Pay Is The Best Way To Send Money From Ghana To Uganda

Yellow Pay is the new way to make payments in Ghana and send money from Ghana to Uganda with zero fees. Below are some unique features it has:

Security: 

Because people's money will be involved, it is critical to have a secure system resistant to cyber-attacks and fraud. Yellow Pay is secured by an encryption system and fraud monitoring sensors that protect your transactions 24/7.

Yellow Card, as the company is also licensed to operate in Ghana, Uganda, and the 16 other countries where it exists. There is also a 2FA system in place to help you protect your account from attacks.

Easy to use: Yellow Pay is easy for the young and old. It's little wonder why over 1 million customers have come onboard the app. When you make transactions with your clients and loved ones, they happen quickly and safely, too.

Transfer Fee: 

Yellow Pay allows you to send money from Ghana to Uganda or any other African country it exists in, for zero fees. 

Speed of Transaction: While banks still rely on SWIFT for fund transfers, which take two days or more, sending money on Yellow Pay is instant.

How To Send Money From Ghana to Uganda

To send money to Uganda on Yellow Pay, follow these simple steps:

• Login to your Yellow Card account.
• On the homepage, select “Pay” then “Send.”
• Select the country code, enter the recipient's phone number, and tap “Check phone number”. 

If the person isn’t a Yellow Card verified user, you can invite them to open a Yellow Card account. However, you can send them the money with their phone number. 

• Enter the amount you would like to send. You will also see the amount they will receive in their local currency. 
• Select the reason for sending, then tap “Next” to continue.
• Review the transaction details, then “confirm” if everything is in order. 
• Money sent! Your recipient will receive a text message with the amount sent. As you successfully send money from Ghana to your recipient in Uganda, the amount shows in their Yellow Pay account.

If the person you send the money to isn't a Yellow Card customer, they receive a notification to sign up and receive the money. The amount will be refunded to your account if they don’t sign up within 7 days. 

How to Receive Money and Withdraw in Uganda with Yellow Pay 

Yellow Pay allows you to also request money from your friends and family. All you have to do is click on the “request” button, add the sender’s number, and the sender receives a custom message allowing them to send you money instantly. 

Here’s how to receive money with Yellow Pay:

1. Log in on Yellow Card. Sign up on the platform if you received money but are not a Yellow Card customer.  

NB: Sign up only with the registered number the sender used when setting up your account. Once you sign up and verify your account, you’ll see the amount reflected in your account in your local currency.

1. You can withdraw your money on your Yellow Card dashboard directly into your account through a standard bank transfer or Mobile Money. From your dashboard, go to your balance wallet and choose the amount to withdraw.

To withdraw with a bank transfer, simply put in your bank account details and send it. 

To withdraw with mobile money, follow these steps:

• From your dashboard, select withdraw.
• Select Bank Account
• Enter the amount you wish to withdraw.
• Enter your MOMO mobile phone number as the Account Number 
• Confirm the withdrawal details and input your 4-digit PIN.
• Your money will be sent to your mobile number within 12 hours.

Remember, the money in your account is yours, and you can choose to hold it in the account or withdraw it instantly at any time of your choice. 

Send Money From Ghana To Uganda Safely and Cheaply With Yellow Pay 

Yellow Pay is the easiest, safest, and cheapest way to send mobile money in Ghana and Uganda! Yellow Pay is a product of Yellow Card that allows you to make cross-border payments in about 16 African countries where it exists today.

The goal of Yellow Pay is to make it easy, quick, secure, and fair for you to transfer money. Yellow Pay is your solution for a better payment experience.

Start Sending Money Today With Yellow Pay

Disclaimer: Yellow Pay uses Yellow Card’s crypto exchange platform to complete customer transactions in USDT. Yellow Pay is not a money remittance or foreign currency exchange service.