Local and foreign money transfer customers

Local money transfer customers

Local money transfer customers are a customer who transfers money from a branch within a given town/city or to another branch in another town/city within the territorial boundary of Ethiopia. Local money transfer service is one of the services rendered by Nib international bank.  There are various modes of effecting Money Transfer.  However, the most common means of remitting funds from one spot to the other within the country are:

  • Telegraphic or Telephone Transfers
  • Mail Transfers
  • Demand Drafts
  • Cashier Payment Order (CPO)

Foreign money transfer customers

Foreign money transfer customers are a customer who transfers money to and from Nib international Bank. Foreign money transfer processes are classified into the following two major classifications.

Incoming Transfer

This refers to remittances to be received in favor of beneficiaries who are in Ethiopia. These transfers may take one of the following forms: 

  • Bank to Bank transfers
  • Any fund transfer through SWIFT NIBIETAA
  • Remittance Service Providers, currently we are working with Western Union, Express Money, Golden, Dahabshill, Trans Fast, Ria, Money Gram and Hodan Money Transfer

Outgoing transfer

This refers to remittances in favor of beneficiaries who are abroad. These transfers may take one of the following forms: 

  • Bank to Bank Transfer
  • Payment for Education, Membership, Training, Medical, Insurance etc.