Do you ever consider how to send money to Senegal? In this article we will walk you through the necessary steps you are required to take for you to deposit money in one of the banks in Senegal which is one of the West African countries while residing in another country elsewhere across the globe.
But, first, we will throw light on the requirements to open a bank account, whether in-branch or online anywhere in Senegal, because online banking has made it easy to open a bank account in another country from afar and another country.
Let’s now take a look at the requirements to open a simple bank account in one of Senegal’s banks.
- Firstly, you need to produce your 3 photos of passport size;
- Secondly, you need to produce a copy of your passport; and
- Lastly, you need to produce proof of your residence such as a residence certificate or a lease document or a utility bill issued in your name.
Now let’s take a look at how you can deposit or send money or transfer your remittances in a bank in Senegal.
Any bank:- You can deposit money to any bank across Senegal from abroad.
Any account type:- You can send money into any type of account in any bank in Senegal. All you need to deposit your money into the account is a Basic Bank Account Number (BBAN).
How much time:- The funds you are going to receive in a Senegal bank account usually take about 1 to 2 working days. But, this time can vary due to a number of reasons such as unforeseen emergencies halting the economic activities, which country you are sending the deposit form and the volume of the amount etc. Depending on these and other reasons, transfer can delay. But, as soon as the funds are credited into the said account, both the sender and the recipient will be notified through an email or an SMS alert.
The requirement of additional information, to operate in alignment with regulatory laws, depending on the transaction, can also cause delay in the completion of the transaction about which you will be emailed.
Currency:- You can deposit money in a Senegal bank only in CFA Franc BCEAO (XOF) only which is the official currency of Senegal.
Volume of amount:- There is no fixed limit for the volume of amount to be transferred, but lower limits are in place but those limits are not random and fixed. Those depend on the amount and which country the said amount is sent from.
Now let’s look at the information you need to send money to your beneficiary in Senegal from abroad.
Name:- The name of beneficiary should be exactly the same as the one on their bank statement.
Address:- The full address of the recipient is also required.
Reason:- Reason for sending the amount into the account must be mentioned. These reasons include, but are not limited to, family support, service purchase or payment for property etc.
Account:- The Basic Bank Account Number (BBAN) has 24 characters in to, without dashes etc., consisting of 5 character bank code, 5 character branch code, 12 digit account number and 3 digit RIB key.
Contact:- A mobile number is required to send SMS alerts and a reference number for the transaction which is required to present in bank to collect funds. Also, notifications are sent apprising the beneficiary about when to collect funds.
Email:- It is also used to send alerts etc., but it is optional. This purpose can be served by the contact number.
Conclusion:- We now fully know about how to deposit or do money transfer to Senegal‘s bank account from a faraway country and have discussed at length the necessary steps and requirements to do the same. ACE Money Transfer highly recommends filling all the requisite fields with care and caution because a small error can deprive you and the beneficiary of the money you are sending and the latter is waiting to collect.