NCBA Bank Uganda scraps fees on digital transactions until December

NCBA Bank Uganda has stopped charging transaction fees on selected services on its digital banking platform until 31 December 2026. The bank says it wants more customers to bank online.

The offer covers transactions made through the NCBA NOW mobile app, the web platform and the *212# USSD code. It applies to utility bill payments, transfers from bank accounts to mobile wallets, electronic funds transfers (EFT), real-time gross settlement (RTGS) payments, international transfers and National Social Security Fund (NSSF) payments, subject to the bank’s terms and conditions.

Mark Muyobo, the bank’s chief executive, announced the campaign at the bank’s head office at Twed Towers in Kampala on Tuesday.

“We recognize that our customers want banking that is convenient and offers greater value for their money. By removing transaction fees on selected services through our digital channels for the remainder of the year, we are encouraging customers to make greater use of digital banking while enjoying savings on everyday transactions,” Muyobo said.

According to the bank, the campaign aims to get existing NCBA NOW users to transact more often, win back customers whose accounts have become inactive, and attract new customers.

“Our message is simple: transact more, enjoy greater convenience and pay zero transaction fees on eligible transactions. We also welcome those who are not yet banking with NCBA to open an account and experience the benefits of banking with us,” he said.

The campaign runs alongside the bank’s existing offer for small and medium-sized enterprises (SMEs), called “Ku NCBA Kiggwa Ku Bwererere”. Under that offer, qualifying business customers pay no transaction fees and no arrangement fees on business loans, invoice discounting, local purchase order (LPO) financing and asset financing.

“We understand that for SMEs, every cost matters and every opportunity to improve cash flow can make a difference,” Muyobo said.

“Through Ku NCBA Kiggwa Ku Bwererere, we are communicating a clear proposition to businesses: more value from their banking, with zero transaction fees and zero arrangement fees on facilities, subject to the applicable terms and conditions,” he added.

The bank did not say how much customers would save, or what the waiver would cost it in fee income.

NCBA Bank Uganda is a subsidiary of Kenya-based NCBA Group, which says it serves more than 60 million customers across the region. The bank says the Ugandan unit has an asset base of 1.2 trillion shillings.