CJSC “Bank Asia” Launches New Instant Transfers from Kyrgyzstan to Uzbekistan
As part of its development of cross-border transfers, CJSC “Bank Asia” has become one of the first banks in the market to launch a new service – instant transfers to Uzbekistan via Uzcard and Humo cards in the Asia Online mobile application. Transfers are commission-free and credited instantly.
Board Member Vladislav Ten explained why these money transfers are important for users and why this tool is highly convenient for sending money to a neighboring country.
According to him, Uzbekistan is an attractive destination because the country is actively developing and maintains strong ties with Kyrgyzstan in trade, manufacturing, and tourism. Digitalization is a top priority there.
“Our citizens enjoy visiting Uzbekistan, and in return, our neighbors come to Issyk-Kul. Our partners, after analyzing outgoing payments from Uzbekistan, were surprised to find that Kyrgyzstan ranks first in outgoing instant transfers. This is likely due to our close economic ties, particularly in the southern region,” he noted.
As a result of negotiations, Bank Asia became a settlement bank for inter-system integration in cooperation with CJSC MPC. The project was made possible through collaboration with CJSC Interbank Processing Center, which provided the technological foundation for secure and instant money transfers.
The service works with both Uzcard and Humo cards, which can be topped up from Kyrgyzstan either by phone number or card number. Transfers are credited instantly.
“An important factor is that there is no commission for the sender. Funds are converted immediately at a favorable rate, and the application shows exactly how much the recipient will receive. For example, if you send 10,000 KGS, the recipient will receive 1,365,000 UZS. The final amount depends on the exchange rate on the day of the transfer,” explained board member Vladislav Ten.
Previously, sending and receiving money between Kyrgyzstan and Uzbekistan often required money transfer systems that charged a fee, which included bank employee salaries and other service costs.
“Now, thanks to the ability to make transfers directly in the Asia Online mobile app, each user effectively becomes their own cashier, significantly reducing expenses,” said the bank representative.
Abdulaziz Umarov, a student from Fergana (Uzbekistan) living in Bishkek for two years, shared his experience. He studies, works part-time, and financially supports his parents as the eldest son. Until recently, sending money home from Kyrgyzstan was inconvenient for his elderly parents.
Abdulaziz used an international money transfer system, which was not very convenient because transfers were only in USD. He had to convert KGS to USD, and his parents then converted USD to UZS, all while monitoring exchange rates and paying commissions for each transfer.
“A lot of times I wondered how much would actually reach my parents after all the conversions,” he said.
A classmate advised Abdulaziz to try sending transfers through the Asia Online app. The main advantage is that money arrives directly in UZS on his father’s pension bank card. There is no need to worry about exchange rates, and the funds are received instantly.
Through the Asia Online app, users can send up to 200,000 KGS per transfer, up to 500,000 KGS per day, and no more than 1 million KGS per month. All payments are checked by the security system and delivered instantly.
How to send money from Kyrgyzstan to Uzbekistan:
- Install the Asia Online application.
- Open the Payments section → International.
Enter the phone number or card number.
Enter the amount, and in just a few moments, the transfer will reach your loved ones.
CJSC “Bank Asia” plans to establish a payment system with other neighboring countries to make transactions even more convenient for all clients.