Home

Articles

FAQs

CSO=Customer Service Officer

Opening an Account.

a. What is the procedure for opening an account?

Just fill the account opening form, and provide documents as in 3 below for companies and approved IDs and two recent passport size photographs for individuals. A company search is done by the bank lawyer to confirm the existence of the company/business.

b. Can I apply for an account if I do not live in Uganda?

Yes you can 

c. What do I need to apply for an account?
      Business Current Account:

1. Certified copy of the resolution to open a bank account
2. Company Memorandum and articles of association
3. Company form 7 (with a full list of Directors)
4. Trading License
5. Certificate of Incorporation
6. Valid IDs of each of the Directors (either Driving permit or Voters Card or Passport or National ID)
7. 2 recent copies of passport sized photographs
8. Ugx 50,000/=

d. What accounts are available for individuals?

1. Individual current Account
2. Savings account
3. What accounts are available for businesses?
4. Business Current Account –Companies, schools etc
5. Individual Business Account

Note: These Accounts can be denominated in Foreign Currencies


e. Who do I call if I need assistance?

Call either of the numbers below or send an e-email:
Tel: 0414-3450200; +256 782545233; +256703878418
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.


f. When can I start using my new account?

As soon as you receive your Bank Account Number from the CSO.

g. How can I fund my account?

1. By making direct cash deposits into your account.
2. By making cheque deposits into your bank account
3. By making funds transfers to your bank account

Deposit Accounts

a.What checking accounts does ABC Capital Bank offer?

Business Current and Individual current accounts both in local and foreign currencies

b. What Savings accounts does ABC Capital Bank offer?

1. Classic Saving Accounts; Min opening bal=min balance=ugx 25000; 4 free monthly withdrawals, and ugx 500 thereafter per txn. Int is paid biannually.
2. Premium Savings Account: Min Bal Ugx. 50000, cheque book 25 leaves, 8 free monthly withdrawals and thereafter ugx. 500 per txn. Int. is paid biannually.
3. Pure Savers Account.Min Bal Ugx. 50000, 2 free monthly withdrawals and thereafter ugx. 500 per txn. Int. is paid biannually,
4. Salary Savings Account: Min balance: 10,000, Monthly service fee, 2000, interest is paid biannually.
5. Classic USD Saving Account: Min bal: 10,000, No monthly service fee, int. paid bi annually, below min bal. charge of USD. 500.

c. What is the minimum amount required to open an account?

Between UGX 10,000 and UGX 100,000/= Depending on the account.

d. Do all your accounts require a minimum balance?

Yes, but there is a charge of UGX 5000 for going below minimum for all accounts.

e. Do any of your accounts have funds transfers?

Internal funds transfers across accounts are allowable at no cost.

Bills Payment

a. Can I cancel or place a stop payment on a bill payment?

Yes, provided you do 24 hours before the bill hits your account in the bank and the sop payment is formally addressed.

b. Can I set up a single payment with a date in the future?

Yes, we can arrange a single payment with a date in future by direct debit facility.

c. Can I make many payments to different people at a go?

Possible.

d. How will I know that my payees have received payments I’ve authorized?

It is important that after the transfer is effected, one gets advise from the bank duley authenticated by the officer in-charge but at the same time, making a call to the payee could help.

e. If there are not sufficient funds to cover a scheduled bill payment, what will happen?

We call the customer and advise to deposit cash to make good of the deficit so that the bill is cleared. TODs can also be arranged on a case by case basis. For inward debits, CSO make call backs to customers as to confirm payments off their accounts. This is also done at no cost.

f. I need to make a payment tomorrow; is there a cutoff time to ensure my bill payment will be sent on time?

We advise that in order to ensure prompt payments, customers deposit bills for collection before mid day on any given business day.

g. Can I pay bills from multiple accounts?

Allowed provided that the accounts in question are funded.

h. What is the cutoff time to change or cancel a pending payment?

24 hours before the payment instruction reaches the bank.

i. What are the minimum and maximum amounts for bill payments?

Bills for collection from other banks in form of the cut off is UGX 20 million.

Money Transfer

a. Are there limits to the number of transfers I can make?

Not restricted.

b. Can I transfer money into an account I am not an account owner?

possible.

c. Can I schedule a transfer to take place in the future or set up recurring transfers?

Possible through direct debit arrangements with scheduled debits off your account

d. I have an account with another bank. Can I transfer funds from this account into my ABC Capital Bank account?

Possible. Instruction is done in that other bank usually by filling a simple form with a small cost.

e. What is the maximum amount I can transfer between my accounts?

No caps provided sources of funds and proper KYC in all cases is well verified by the banks

f. What types of accounts can I transfer funds to and from?

Both current and savings accounts

Loans

a. How do I know I qualify for a loan at ABC Capital Bank?

Through interaction with a staff member at ABC Capital Bank or reading our brochures at the Customer desk. Just apply; the credit team is ready to help wherever possible. Good business proposition, Good turnovers as reflected on the accounts statement consistently over a reasonable period, evidence of existence of business, verifiable customers’ experience in the same line of business, Collateral.

b. What is the loan application process?

Starts with account opening, then loan application, loan documentation collection, analysis of application, presentation & approval, signing of offer letters & mortgage deeds then disbursement.

c. What are your charges?

2% disbursement fees & 1% account management fees.

d. How long does it take to process a loan?

7 days for local approval & 14days for Boar Credit committee (BCC) approval.

 

Has your questions been answered fully? For more information call 0414345200 or Email: This email address is being protected from spambots. You need JavaScript enabled to view it.