What is Agent Banking?
A banking agent is a retail or postal outlet contracted by a financial institution or a mobile network operator to process clients’ transactions.
Requirements For Agent Banking In Uganda
Visit the bank branch close to your business location.
Respond to questions from the Branch Manager as regards aspects of your business laid out in the Agent Banking minimum standards checklist
Fill out the Agent Application form and attached the required business Documentation
The application will be submitted to the Bank of Uganda for vetting and approval.
How do I register for agent banking in Uganda?
Dial *211#
Select Agent Banking.
Select Register.
Input your account number.
Input CenteVisa card PAN number.
Input CenteVisa card PIN.
A unique PIN shall be sent to you.
You are ready to transact!
How much does Agent Banking earn in Uganda?
The agent also earns a commission on deposits which starts from Shs300 to Shs3,500 per transaction made depending on the tier.
“For example, if a customer deposits Shs1 million with the agent, this transaction will earn the agent Shs800,” Okot shared.
Who can be an agent of agent banking in Uganda?
You must be having a licensed business and have been active for at least twelve months, a presentable physical address, as well as adequate and secure premises.
When at the financial institution, the branch manager will ask you questions in regard to your business to ensure it meets the minimal standards.