Currency exchange in Tanzania digitally from the comfort of your office desk or home

Leading business payments in Africa

ClickPesa’s e-Bureau de Change is a solution where you can exchange your currencies, all done digitally without leaving your office desk or home. For example, you have USD in your bank account and need TZS in your mobile wallet; this service can facilitate that exchange at the best exchange rate. We are able to offer our SMEs the best rate through a comparison of live exchange rate deals from banks, Bureau de Change and licensed brokers to offer the best exchange rate deals. ClickPesa customers no longer have to physically shop around for the best exchange rates again.

The currency pairs we currently support:

TZS into USD
USD into EUR
USD into TZS
EUR into TZS
TZS into EUR
EUR into USD

We will add more currencies based on the demand; please let us know which currency you think is missing.

Why did we decide to build an e-bureau de change solution?
In most countries in Africa, there is a significant difference in exchange rates between banks and retail forex shops. People and businesses save money when exchanging money through a forex shop. The current option available to people and businesses is to withdraw cash from the bank and physically exchange cash at a retail forex shop. This process is risky because you carry physical money with you. On top of that, it can be expensive as banks charge fees on withdrawals of foreign currencies.

Businesses receiving payments or making payments in foreign currencies can use ClickPesa’s e-Bureau de Change solution as an online currency exchange service tool. With this tool they can exchange currencies digitally from the comfort of their office or home. It enables businesses to shop around for the best rates offered by banks and Bureau de Changes and exchange money electronically through bank transfers and m-money wallets. Businesses will be able to check the rate real time and execute a trade via the portal.

How does it work?

1. ) Select the amount and currency you want to exchange. Select the currency you want to receive and in a couple of seconds the best rate with the converted total amount will appear on the screen. You now have the option to cancel the conversion or lock it in.
2. ) In case you decide to accept the rate, the next step is to select how you will deposit the amount and currency you want to exchange. The tool lets you choose to make a deposit from a bank account, mobile money account or your ClickPesa wallet.
3. ) After the deposit account has been successfully selected, you select to what account the converted amount and currency will be paid out. It lets you choose to make a payout to your bank account, mobile money account or your ClickPesa wallet. The payout time depends on the payout option you have chosen.
4. ) When both deposit and payout account is set you will be taken to a confirmation page. Double check if all the information is correct and confirm the exchange if that’s the case. Please note that the rate is locked after you confirm and ClickPesa is not responsible for any mistakes made by you.
5. ) In case bank account or mobile money account is selected as method of deposit, the tool will give account details with a reference number to make a deposit to. Make sure the reference number is added when the transaction is made. The transaction expires if the funds are not deposited within two hours of requesting the trade.
6. ) Once ClickPesa has received your deposit, the exchange is executed and the converted amount and currency will be settled in your selected payout account. The time of payout depends according to the time related to the payout option selected. You automatically receive a receipt when the amount is payout is done.

Originally published at clickpesa.com on March 11, 2019.