Sending money to Uganda is less simple than it is in most other countries. Many of the most popular and effective methods are not available inside Uganda. This is fine, as all it means is that you will have fewer options to pick from and less control. There are still several great options for sending money online to Uganda. Here at MoneyTransfers.com we compared various providers to help you choose the right provider for your needs.
The current exchange rate for the Ugandan Shilling (UGX) is 3,689.3318 UGX per American Dollar (USD). The UGX reached a high of 3,708.1105 UGX per USD and a low of 3,624.1502 UGX per USD during the last 90 days. The average exchange rate for the UGX was 3,685.3594 UGX per USD for the last 90 days.
The average volatility rate for the UGX against the USD was 0.25% for the last 90 days. This is a normal volatility rate, and the UGX has fluctuated moderately over the course of years. Going forward, you can reasonably expect only moderate fluctuations to continue, barring any unforeseen circumstances.
The fastest way to send funds to Uganda is through WorldRemit. While you could use a rechargeable debit card (as you could anywhere else), WorldRemit makes it easy to deposit money directly into a bank account or debit card. All you need to do is set up an account with them and add the recipient by entering their name and any other relevant information.
The cheapest way to transfer money online to Uganda is through cryptocurrencies. While we don’t recommend you use cryptocurrencies without thoroughly understanding how to use them, they are a very cheap way to.
Cryptocurrencies have been adopted (as an international exchange method) to an active extent in Uganda. The security offered by blockchain technology may play a large part. The potential for future growth likely adds a further explanation for this. Cryptocurrencies are simple and secure as a transaction medium for those that know how to use them. They are also free to send, in most cases, although the time it takes to transfer coins like Bitcoin is always increasing.
If we were only concerned with the cost-efficiency of cryptocurrencies, we would recommend them far more often. We don’t mention them due to the fact that the cryptocurrency space is relatively unregulated. It is your responsibility to make sure you know what you’re doing and follow all regulations when it comes to non-traditional means of sending money.
MoneyGram is the easiest way to send money online to Uganda. With MoneyGram, you have a few choices in how you want to send your funds to Uganda, and all of them are pretty simple.
The recipient of a MoneyGram transfer can access one of a number of pickup stations in Uganda, or the money can be deposited directly inside their bank account. As long as you specify the recipient’s name, you can transfer the money using a credit or debit card, or directly from your bank account.
The overall best way to transfer funds to Uganda is through WorldRemit. WorldRemit simply offers the best balance between cost, ease of use, and speed. There are also useful features such as SMS notifications for recipients. When all factors are put into consideration, WorldRemit is the best way to send funds to Uganda.
WorldRemit is a great provider if you're looking for: