Agency Account

This account is designed to meet the needs of agent banking agents.

  • The account comes with a Point of Sale terminal at UGX 1M enabling an agent to transact on behalf of the bank
  • Free over the counter withdrawals of any amount
  • The account comes with zero monthly administrative charges.
  • No monthly charges on the account
  • Fees over the counter, ATM and mobile banking:
    • Cash deposit - free
    • Cash withdrawal - free
  • Account statements - N/A
  • Point of Sale acquiring cost for each machine - UGX 1,000,000
  • Administrative fees per month / ledger fees - nil
  • Cheque book charges per leaf - no cheque book facility - N/A
  • No debit / credit interest - nil
Potential additional fees / charges
  • Below minimum balance charge - this is a float account - N/A
  • Account closure fees - N/A
  • Overdraw of the account - N/A
  • Certificate of incorporation(in the case of company) and memorandum & articles of association or business name certificate(sole proprietor) / partnership deed (for partnership) and statement of particulars
  • Particulars of directors
  • Copy of the FCS card
  • Trading license for existing business for the past one year
  • TIN number and tax clearance certificate
  • Passport size photos of each of the directors and valid IDs(national ID or passport)
  • Two photos of each outlet – inside / outside, with specific marking for customer service area
  • Two reference letters from people or entities of good social standing (e.g. LC1, LC2 or business references) or reputable entity introduction.
  • Copy of bank statements for the last twelve months with other banks
  • Account numbers with DTB, if any
  • A board resolution (for registered firms) to take on agency banking and open a bank account with DTB
  • Letter of acceptance (from non-registered firms like Supermarkets etc.) to take on agency banking and open a bank account with DTB.
  • Signed agent agreement
  • Service and location of outlets / GPS mapping
  • Secure premises
  • Open a settlement account with DTB with a minimum deposit of four million towards Float (three million) and one million towards POS machine acquiring
  • Complete agent application form for each of the locations and should be signed and stamped by the owners of the business or by the controlling person
  • Interpol certificate of good conduct
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