Tropical Giro is a product that provides convenient inland payments in favour of Tropical and PostBank customers through their branches.
HOW THE TROPICAL GIRO WORKS
Any person needing to transfer money to a payee at Tropical Bank, where no Tropical branch exists, can simply remit the money through the nearest PostBank branch which shall be executed as follows:-
- Any remitter can approach the nearest PostBank branch and effect payments with full account details of Tropical’s customer
- On the same day PostBank branch shall transfer the money to its Head Office in Kampala without any deductions
- On the same day PostBank Head Office shall advise Tropical Head Office of the payment with full account details of the payee, remitter’s name, and details or reasons of the payment if necessary without deductions
- On the same day Tropical will credit the payee’s account at any of its branches with the respective money without any deductions
WHAT ARE THE BENEFITS OF TROPICAL GIRO?
- Tropical customers do not need to have collection accounts I other banks and save on related costs
- Same day receipt of the customer’s funds unlike
- Three days required for clearing cheques drawn on Banks in Kampala.
- Up to fifteen days required for clearing a cheque drawn on Banks up-country.
- Eliminates the risk of carrying cash from up-country to Tropical Branches vice versa
- Tropical Giro service is completely FREE of any charges to the remitters and the payees