Agent Banking Requirements

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Agent Banking Requirements

Agent Banking is third-party banking where transactions are carried out through an agent appointed by the Financial Institution. 

First and foremost identify a bank you would like to work with and visit them to find out the necessary requirements and their Agent Banking services (majorly deposits, withdraws, pay bills, buy float, school fees payments, airtime top-up) offered. Banks in Uganda providing Agent Banking include Stanbic Bank, Absa, DFCU Bank, Centenary Bank, DTB bank, Standard Chartered Bank, and many more.

Criteria an Agent must meet? 
  •  Is a registered and licensed business for at least twelve months
  •  Have a physical address 
  •  Have adequate and secure premises 
  •  Have an account in a financial institution licensed by the Central Bank
  •  Have been engaged in commercial activity for at least 12 months
  • A clean criminal record
Entities that qualify to  offer agent banking:
  •   Registered Sole Proprietors
  •  Registered Partnerships
  •  Limited Liability Companies
  • Cooperative Societies
  •  Microfinance Institutions
  • Any other entity approved by the Central Bank

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