NCBA waives fees in digital push
The move brings the cost of digital banking into focus, particularly for businesses and individuals who make frequent transactions and must factor banking charges into their daily expenses.
Mark Muyobo, NCBA Bank Uganda chief executive at the campaign launch
NCBA Bank Uganda has waived transaction fees on selected digital banking services until the end of the year, as the lender seeks to attract customers and encourage greater use of its digital platforms.
The move brings the cost of digital banking into focus, particularly for businesses and individuals who make frequent transactions and must factor banking charges into their daily expenses.
For small and medium-sized enterprises (SMEs), transaction fees can add to the cost of paying suppliers, receiving payments and managing working capital. However, the extent of the savings will depend on the frequency and value of transactions and the charges previously applicable.
"We believe banking should do more than facilitate transactions. It should make life easier, create opportunities and empower people to pursue their ambitions. That is the thinking behind our NCBA NOW Zero Transaction Fees campaign. 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.
The campaign runs until December 31, 2026, and is also intended to encourage inactive customers to resume using their accounts and attract new customers to the bank.
Muyobo said the bank's focus on reducing banking costs extended to businesses, where access to affordable financial services can influence cash flow and business operations.
"Our commitment to delivering value extends beyond individual customers to the businesses that drive Uganda's economy. We understand that for SMEs, every cost matters and every opportunity to improve cash flow can make a difference.
"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 said.