DIGITAL REVOLUTION: DTB Cuts Transaction Charges On Payments, Funds Transfers

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Diamond Trust Bank Uganda (DTB) has cut transaction charges on payments and funds transfers in for clients in its new digital revolution campaign.

The campaign seeks to increase financial inclusion while limiting physical contacts of customers at bank premises and exchange of cash.

Speaking at the launch of the campaign at the Bank headquarters in Kampala, DTB Managing Director, Mr Varghese Thambi said that the digital revolution is a culmination of the bank’s intensified innovation with the aim of boosting financial inclusion through the offer of affordable banking services.

“Cognizant of the current economically challenging times, we understand the customer’s need to reduce costs, make a saving and re-invest it. That is why we have rolled out the Digital Revolution campaign to meet our customer’s needs,” he noted.

Under the campaign, DTB is offering its customer the DTB Digital Savings account. The account offers customer digital connectivity through DTB 24/7 Mobile banking that enables timeless and borderless secure banking. The customer can easily make deposits, withdrawals, payments, purchases, transfer funds, and control their Bank account on the go.

The bank said, the DTB Digital Revolution enables the customer to reduce the charges by over 90%.

For instance, a customer making six transaction on existing money transfer, payment platforms and solutions has been spending sh120,000. With the DTB Digital revolution the customer will perform six transactions in real time and only pay sh3,000. The beneficiary incurs zero banking cost.

Mr. Thambi noted that the unique campaign is envisaged to increase financial inclusion by attracting the unbanked population into formal financial services.

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He also highlighted that the Bank seeks to support businesses using online money transfer services to incur reduced transaction costs.

“Businesses have been affected negatively by COVID 19 and its adverse effect. We are aiming at revitalizing these businesses. Reduction of operational costs is one of the ways in which we shall achieve this for our business partners,” he said.

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