What is a Bank Account?
A bank account is a financial account maintained by a bank or other financial institution in which the financial transactions between the bank and a customer are recorded.
Requirements For Opening A Bank Account In Uganda
a. Personal:
Two (2) passport-size photos
Valid identification document including the following:
Valid National Identity Card for Ugandans
Passport for foreigners (Non-Ugandans).
Refugee Identity Card for Refugees.
A mandatory opening cash deposit of Ushs.100, 000.
One (1) Referee (who is either a Centenary Bank customer, employer, lawyer/advocate clergyman, doctor, headmaster, or any other acceptable local authority)
b. Sole Proprietors:
Two (2) passport-size photographs
Valid identification documents (either copy of a national ID card, employer, voters’ card, driving permit, or passport)
Opening cash deposit of Ushs.300, 000
Certified copy of the certificate of registration
Copy of trading license
Certified copy of the statement of particulars
Two (2) Referees- anyone who is either a customer of Centenary Bank, lawyer/advocate, clergyman, doctor, headmaster, or any other acceptable and reputable personality
c. Companies:
Two (2) passport-size photographs of each of the company signatories
Valid identification documents (either copy of a national ID card, employer, voters’ card, driving permit, or passport)
Opening cash deposit of Ushs.300, 000
Registered/Certified resolution by the directors to open an account.
Written application letter to open an account on a company-headed paper
Certified copy of the certificate of incorporation
Certified copy of Memorandum and Articles of Association
Particulars of Directors certified by the registrar of companies (Company Form 7)
Copy of company trading license
Tax Identification Number (TIN)
Physical evidence of office premises e.g. utility bills, tenancy agreement
Verified account signatories
One (1) Referee who is either a customer of Centenary Bank, lawyer/advocate, clergyman, doctor, headmaster, or any acceptable and reputable personality
d. Cooperative Unions /Societies/Clubs/Associations/NGOs:
Two (2) passport-size photographs of each of the account signatories
Valid identification documents (either copy of a national ID card, employer, voters’ card, driving permit, or passport)
Opening cash deposit of Ushs.300, 000
Certified copy of by-laws or constitution
Certified copy of the certificate of registration issued by the authorized registrar
Annual General Meeting resolution to open the account with a seal and original signatures
Written application letter to open up an account on a headed paper and signed by the authorized
Verified account signatories.
Two (2) Referee who are either Customers of Centenary Bank, lawyers/advocates, clergymen, Doctors, Headmaster, or any other acceptable local authority
e. Partnerships:
Two (2) passport-size photographs of each of the account signatories
Valid identification documents (either copy of a national ID card, employer, voters’ card, driving permit, or passport)
Opening cash deposit of Ushs300, 000
Certified copy of Statement of particulars of partners
Certified copy of partnership deed
Certified copy of the certificate of registration
Copy of Trading License
Written application letter to open up an account on a headed paper signed by partners
Tax Identification Number (TIN)
Verified account signatories
One (1) Referee who is Either a Customer of Centenary Bank, Lawyer/Advocate, Clergyman, Doctor, Headmaster, or any other acceptable Local Authority
Can I open a bank account online without going to the bank in Uganda?
Welcome to the Stanbic Bank Uganda! Open an account online with a few simple steps. All you need is your valid identification document,
a passport photo or selfie, and a photo of your signature and you are set. Be sure to read all the guides below to have a seamless account opening experience.
Which bank in Uganda is international?
Standard Chartered Bank Uganda Limited is an international Bank with a rich history spanning over 109 years of existence in the Ugandan market,
having opened its doors on 12th August 1912, making it the longest-established Commercial Bank in the country.
Which is the best bank to use in Uganda?
Centenary Bank, Uganda’s second-largest bank, by deposits, lending, assets, and profitability, has
been named Uganda’s Best Retail Bank 2022 in the just-announced Global Banking and Finance Awards.
Which bank controls all banks in Uganda?
Commercial Banking Department is charged with the supervision of commercial banks while NBFI supervises credit institutions,
Micro Deposit-Taking Institutions, and other non-bank financial institutions under the mandate of the Bank of Uganda.