Banking in Uganda has never been more accessible, thanks to mobile money, digital banking, and expanded branch networks. However, many customers still find themselves losing money to unclear or unnecessary fees.

This guide breaks down the most common bank charges in Uganda — including withdrawal fees, maintenance fees, and card charges — and shows you how to reduce or avoid them entirely.

1. Why Understanding Bank Charges Matters

Even small fees can eat into your savings or increase the cost of doing business. Knowing how banks in Uganda charge for services helps you:

• Choose the right account
• Plan your transactions wisely
• Avoid hidden or avoidable charges
• Manage your money more efficiently
• Compare banks and switch when necessary

Whether you’re a student, salary earner, or entrepreneur, understanding bank fees is key to smarter banking.

2. Types of Bank Fees in Uganda (2025)

Below is a breakdown of common charges you’ll encounter at most Ugandan banks:

🔸 Monthly Account Maintenance Fees
These are recurring fees banks charge just for keeping your account open. Some banks waive them for students or low-income accounts.

• Typical Range: UGX 1,000–10,000 per month
• Some premium accounts may charge more in exchange for extra perks

🔸 Withdrawal Fees (Over-the-Counter or ATM)
Charges applied when you take out money — either via ATM, agent, or bank teller.

• Bank ATM: UGX 500–2,000 per withdrawal (same bank)
• Other Bank’s ATM: UGX 2,000–4,000
• Over-the-Counter: UGX 3,000–10,000 depending on amount

🔸 Mobile Banking & SMS Alerts

• USSD charges (e.g. *290#, *165#): UGX 100–300 per session
• SMS notifications: UGX 50–100 per alert
• App usage is often free, though data charges apply

🔸 Card Fees (Debit/Credit)

• Issuance: UGX 10,000–30,000 (one-time)
• Replacement: UGX 15,000–25,000
• Annual fee: Some Visa/Mastercard debit cards have yearly fees

🔸 Overdraft Fees
Using more than you have in your account (authorized or accidental) may trigger charges or interest.

• Interest rates range from 15% to 25% annually
• Some banks charge a one-time access fee for overdraft use

🔸 Inactivity/Low Balance Fees
If your account remains dormant (typically 6–12 months), you may be charged a reactivation fee or have your balance deducted gradually.

🔸 Forex Conversion & International Use
Using your card abroad or making payments in USD online may attract:

• Currency conversion fees (2%–5%)
• Cross-border charges (UGX 3,000–10,000 per transaction)

🔸 Statements & Cheques

• Printed monthly statement: UGX 2,000–5,000
• Bankers cheque or counter cheque: UGX 5,000–15,000
• Stop cheque order: UGX 10,000–25,000

3. Fee Comparisons: Real User Feedback

From Reddit and online forums:

🗣 “Centenary charges UGX 5,000 if you withdraw UGX 100,000 or UGX 500,000 — same flat fee. So it’s better to withdraw more at once.”

🗣 “Stanbic charged me UGX 25,000 for a UGX 300,000 teller withdrawal. I now use the ATM whenever I can.”

🗣 “DTB gives you a Mastercard at UGX 35,000 total (UGX 20k opening + 15k card). No monthly fees.”

🗣 “I had no idea my Airtel Money account had daily inactivity charges until my balance hit zero!”

These stories highlight how banks structure fees — and how customers often pay more than expected when uninformed.

4. How to Avoid or Reduce Bank Fees in Uganda

Here are practical steps to protect your money from unnecessary charges:

✅ Choose a Low-Fee or Student-Friendly Account
Banks like Stanbic, Salaam, I&M, and DTB offer student or basic accounts with zero monthly fees and free ATM withdrawals.

✅ Use Digital Channels
Mobile apps, internet banking, and USSD are usually cheaper than in-branch services.

✅ Plan Withdrawals Strategically
Withdraw larger amounts less frequently to reduce flat fees. Avoid teller withdrawals unless necessary.

✅ Monitor Your Account Regularly
Check balances and alerts. Avoid overdrafts or inactivity penalties.

✅ Switch Banks If Needed
Don’t be afraid to close an account if the fees are unjustified. Compare banks annually and shift if necessary.

✅ Use the Bank’s Own ATM
Avoid interbank ATM withdrawals which can cost up to UGX 4,000 each time.

✅ Opt Out of SMS Alerts If You Use Mobile Apps
Some banks charge for SMS alerts, but apps notify you for free (with internet). Consider switching off SMS alerts if you don’t need them.

✅ Ask for a Fee Waiver
For students, salary earners, or first-time account holders, some banks will waive or reduce fees upon request.

5. Fee-Free or Low-Cost Banks to Consider (2025 Snapshot)

Bank	Notable Features
Stanbic (Ez Dimes)	No monthly fee, free ATM, mobile and internet banking
Salaam Bank	UGX 5,000 opening, no monthly fee, tailored for students
I&M Bank	UGX 20,000 opening, low withdrawal fee, multi-channel access
DTB	Mastercard + zero balance policy after initial fee
Centenary Bank	UGX 5,000 flat withdrawal fee at teller regardless of amount

Note: Fees may vary slightly by branch or account type. Always review the latest fee guide or ask at your local branch.

6. What to Watch for in Fee Schedules

Bank fee guides can be long and confusing. Pay special attention to:

• “Dormancy” or “inactivity” charges
• Conditions for “free ATM use” (only from same bank?)
• Whether USSD transactions include mobile operator fees
• FX conversion rates if you shop online in USD or travel
• Terms for bundled packages that claim “free” services

Don’t hesitate to ask a customer service agent to explain anything you don’t understand.

7. Regulatory Protections

The Bank of Uganda requires all licensed financial institutions to:

• Disclose their full schedule of charges publicly (often via website or printed guide)
• Provide clear documentation when opening an account
• Allow customers to switch banks or close accounts without hidden charges
• Avoid predatory or hidden fees

Still, enforcement and transparency vary. Consumer awareness is your first line of defense.

8. Conclusion: Be a Smart Banking Consumer

Bank fees are not inherently bad — they fund services, staff, and technology — but they should be fair, transparent, and avoidable when possible.

By understanding Uganda’s fee structure, comparing banks, and using smarter habits, you can:

• Save more of your money
• Maximize your banking experience
• Help others make better choices through financial education