• Banking & Currency

    Banking & Currency

    Banking and Clearing services

    The banking hall is located at the Bank of Uganda Head Office on plot 37/45 Kampala Road and is accessible for business to the general public through Kampala Road entrance from 8.30am to 3.00pm on working days.
    These are the categories of services offered by the department:

    Services to the Public

    a) Mutilated notes

    Currency notes that are worn out or not fit to circulate may be exchanged for new ones.

    b) Denomination exchange

    Notes can be exchanged from one denomination to other denominations.

    c) Tender documents

    Documents for offers to provide supplies and services to the bank are purchased over the counter.

    d) Central Depository System counter

    Information on Treasury Bills dealings can be obtained at this counter.

    Services to Bank of Uganda customers

    a) Deposits

    Cash deposits to government or Bank of Uganda accounts can be done over the counter.
    Cheque deposits to government or Bank of Uganda accounts can be done over the counter.

    b) Payments

    Cash payment to government agencies can be done over the counter.

    c) Funds transfers

    Authorized instructions are received over the counter for the following types of transfers:

    Internal Transfers

    These are transfer of funds from own accounts to other accounts within the bank.

    Inter-Bank Transfers

    These are transfer of funds from own accounts to accounts in commercial banks by means of Electronic Funds Transfers (EFTs) or RTGS systems.

    Services to Commercial Banks

    a) Managing the activities of the Clearing House

    The Bank of Uganda hosts and facilitates the Clearing House where clearing banks do presentation and settlement of non-cash instruments (cheques, drafts, debit/credit notes and electronic records).

    The main Clearing House (Kampala Clearing House) is located at the BOU Headquarters in Kampala where representatives for each bank meet daily to exchange instruments.

    There are 8 Clearing Houses at Bank of Uganda upcountry branches namely:

    Gulu Jinja Masaka
    Arua Mbale Mbarara
    Fort Portal  Kabale

    Member banks in these Clearing Houses also meet daily to exchange instruments drawn within their regions however settlement is effected at the Bank of Uganda head office.

    Membership to the Clearing House is open to all Commercial Banks licensed by Bank of Uganda to carry out the business of banking in Uganda however for a bank to be represented in the Clearing House, it has to obtain approval from Uganda Bankers’ Association on recommendation from the Clearing House Committee.

    These are the current members of the Clearing House:

    Bank of Africa Ecobank
    Bank of Baroda Equity Bank
    Bank of Uganda FINA Bank
    Barclays Bank Global Trust Bank
    Cairo International Bank Housing Finance Bank
    Centenary Bank KCB Bank
    Crane Bank Orient Bank
    Citibank FINA Bank
    DFCU Bank Standard Chartered Bank
    Diamond Trust Bank Tropical Bank
    United Bank for Africa

    The Clearing House is governed by rules and procedures that have been agreed upon and signed by all the members.

    Bank of Uganda operates an Electronic Clearing system that receives clearing data from commercial banks via a secure electronic protocol. This clearing data is then processed and transmitted via the protocol.

    The Clearing House activities are conducted using instruments in any of the following currencies:

    Local Currency Clearing

    1. Uganda Shilling (UGX)

    Local Foreign Currency Clearing

    1. United States Dollar (USD)

    2. European Euro (EURO)

    3. British Pound (GBP)

    4. Kenya Shilling (KES)

    Support services

    1. Customer relationship management service is provided by a team dedicated to respond to customer queries and needs.

    2. Quality Control Assurance is implemented by a dedicated team that scrutinizes all the banking operations and services.

    All documentation is secured, stored and archived.