Convenient

NovoFX enables you to seamlessly and safely buy foreign exchange and make cross-border payments in over 10 currencies via an app on your mobile device (Android or IOS).

Innovative

The NovoFX app boasts an interactive interface, which enables you to perform outward cross-border bank to-bank (SWIFT) transactions in various currencies with real time exchange rates, in a few easy steps.

Secure payments

Make payments in over 10 foreign currencies. These transactions include salary remittances, gift payments, investment and travel payments.

Features
  • Availability - available on iOS and Android devices
  • Payment categories catered for:
    -Gifts
    -Remittance payments
    -Travel: payments to travel agents and holiday providers
    -Investments: property, mutual funds, bonds, money market, shares, bank deposits and other
  • Available currencies - USD, CAD, GBP, CHF, DKK, KES, EUR, ZAR, AUD, TZS, JPY
  • Type of transactions - outward payments only
  • Links to Absa transactional accounts? Absa transactional accounts only
  • View Single Discretionary Allowance (SDA) utilised in App? Yes, from any Absa source (e.g. NovoFX, AIR, in branch, etc.)
  • Full transaction history? All completed, pending and failed transactions are available in app
     
Frequently asked questions

  • What is NovoFX?

    NovoFX is a new mobile application with an intuitive interface that allows users remit funds internationally. NovoFX facilitates outward international payments to anyone with a bank account. It allows individuals to send money anywhere in the world quickly, easily, safely and at low cost. You can send money to any country (except sanctioned countries) in more than 5 currencies.

    The NovoFX mobile app is suitable for use on iOS and Android (mobile and tablet) devices. You can send money from anywhere with an internet connection and you can also check the status of your transactions via the app. Since we are constantly evolving and updating our services, it is highly recommended you constantly check that your app is up to date.

  • Who can use NovoFX?

    Any existing client of Absa who has a cheque or savings account and they must be registered for internet banking. NovoFX users can send money from their own country to any country except for the following sanctioned countries: Iran, North Korea, Syria, North Sudan, South Sudan, Cuba and Crimea.

  • Where can I download the NovoFX application?

    If you would like to download the NovoFX application, Please go to the play store based on your Android or IOS mobile phone and install the application.

  • How do I sign up/register?

    To sign up, you'll need to register using your Absa Internet Banking username and password. After you have registered on NovoFX, you will log in using those same credentials. A one-time PIN (OTP) will be sent to your cellphone number registered with Absa. Please enter this to complete the process.

  • How do I get forex rates?

    Rates are uploaded on the application and the user will be able to view the rate as they transact.

  • I don’t have an account with Absa. Can I still do a forex transaction on the NovoFX app?

    No. You need to be an existing Absa customer and registered on Absa Internet Banking for you to install and transact on the NovoFX application.

  • Why do I have to enter a payment reason for a transaction?

    This is a regulatory requirement from the country's Regulatory Body related to all payments that are sent internationally.

  • What is the maximum amount I can transact per day on the NovoFX application?

    The daily limit that can be transacted on the NovoFX application currently is UGX100,000,000.00 (with a single transaction limit of UGX50,000,000.00).

  • I've forgotten my password, how do I reset it?

    Because NovoFX reuses your Absa Internet Banking username and password, the password is reset using internet banking (click forgot password) or calling the contact centre (0800222333/+256312218348).

  • Do you charge commission on forex transactions?

    No. Absa does not charge any commission on all forex transactions.

  • How do I add a beneficiary?

    You can add a Beneficiary by selecting the Menu icon on the Home screen, select the Beneficiaries tab on the Menu options, then select Add. Fill in your beneficiary details and then select Create Beneficiary, and your new beneficiary will be stored. A One Time Pin (OTP) will be sent to your registered cell phone number with Absa, please enter this to complete the process.

    You can also add a beneficiary as part of the transaction process, select the currency and enter the amount, click on the Select Beneficiary tab at the bottom of the Home screen, then selecting Add on the Select Beneficiary screen. Fill in your beneficiary details and then select Create Beneficiary and your new beneficiary will be stored.

  • Can I edit an existing beneficiary's details?

    You can edit a beneficiary by selecting the Beneficiaries tab, simply selecting the beneficiary you would like to edit and then selecting Edit details. You will also be required to input an OTP as part of this process.

  • How can I find my beneficiary's SWIFT code?

    You will need to ask your beneficiary for their SWIFT code. As a bank, we are not allowed to give users any details related to the beneficiary.

  • What should I do if I have sent money with the incorrect beneficiary details?

    Incorrect beneficiary details may delay your transfer and result in additional charges being incurred. If you notice that the details you entered are incorrect, please contact the Absa contact centre on 0800222333/+256312218348 or your nearest branch to assist in rectifying the error.

  • Am I able to view my transaction history?

    You can view your transaction status by selecting the Transaction History tab on the menu options. Your transfer status will be one of the three listed below:

    1. Pending: Instruction has been received and is being processed.

    2. Complete: Transaction has successfully been processed and the local bank transfer is completed.

    3. Failed: The transaction has not been processed successfully. Please contact the Absa contact centre or visit the nearest branch for assistance.

  • How secure is NovoFX?

    NovoFX uses a number of security mechanisms to increase your security to prevent identity theft and other online fraud threats. Your security is our number-one priority, which is why we have a number of systems in place to ensure that your risk of being defrauded is reduced. These include the following:

    • Multiple firewalls: NovoFX makes use of multiple firewalls to ensure that only clients with valid access credentials can access the service.

    • Advanced encryption software: We use the most advanced internationally accepted standards of encryption technology when transmitting your data from the app to the bank.

    • App timeout and automatic logout: If you have logged into NovoFX and there is no activity or the app goes to the background, you will be automatically logged out and will have to sign in to continue.

    • One-time verification passwords: When registering on the NovoFX application, creating a new beneficiary or editing an existing beneficiary, a special one-time password, called a one-time PIN (OTP), will be sent to your cellphone. You must type this into the indicated field for verification. This PIN can only be used once.

  • Where can I find the data privacy statement?

    Protecting you, your personal data and financial details is very important to us. We won't share your data with third parties, unless required to do so by law. You can find the data privacy statement  at  www.absa.co.ug/data-privacy-statement/

  • What currencies can I trade in?

    • The available currencies are USD, CAD, GBP, CHF, DKK, KES, EUR, ZAR, AUD, TZS and JPY.

  • I haven't received my OTP. What do I do?

    This may be due to a network issue. Please try putting your cellphone on flight mode then switching the flight mode off. If the problem persists, an incident will need to be raised for the IT Team to investigate.

  • I can’t see my cellphone number on the list of cellphone numbers. What do I do?

    You will need to have your cellphone number updated on your Online Banking or at your nearest Absa branch.

Need more help?

Call us on:
0800 222 333 (Toll Free)
+256 (0) 312 218 348 (Network charges apply)

Email us:

absa.uganda@absa.africa