NCBA Bank Uganda waives digital transaction fees until December 2026
NCBA Bank Uganda has waived transaction fees on selected digital banking services until December 31, 2026, to ease costs for customers as households and businesses struggle with rising expenses, the bank announced on October 13.
The offer includes utility bill payments, bank-to-wallet transfers, electronic funds transfers (EFT), Real-Time Gross Settlement (RTGS), international transfers, and National Social Security Fund (NSSF) payments.
The initiative comes as higher operating costs, including fuel prices, put pressure on household budgets and business cash flows.
NCBA Bank Uganda Managing Director Mark Muyobo said the bank was willing to sacrifice some transaction-fee revenue to provide customers with financial relief.
“Our customers are going through tough times. This is an opportunity for us to support them through the challenges at hand, particularly the cost of doing business and fuel prices,” Muyobo said at the launch in Kampala.
“There is an impact on revenue. It is not about the financial gain, but something we are willing to forfeit on behalf of the customer so that we move with them through this tough period,” he added.
Additionally, the campaign is expected to encourage more customers to use the bank’s digital channels, including account holders who have become inactive. The offer also seeks to attract prospective customers looking for more affordable banking services.
For the bank, the commercial benefit will depend on whether the temporary fee waiver leads to sustained digital activity, more active accounts and stronger customer retention after the promotion ends.
NCBA’s move also comes as financial institutions seek to make digital transactions more accessible while managing the costs of maintaining technology infrastructure, security systems and customer support.
The bank is also running a separate initiative, dubbed “Ku NCBA Kiggwa Ku Bwererere,” targeting small and medium-sized enterprises (SMEs). The campaign offers qualifying businesses zero transaction fees and zero arrangement fees on selected facilities, including business loans, invoice discounting, local purchase order financing and asset financing, subject to applicable terms and conditions.
While the new digital banking campaign focuses on individual customers, the SME initiative targets businesses seeking to minimize banking and financing costs.
However, Muyobo did not disclose the expected revenue impact of the digital transaction fee waiver or the number of transactions the bank expects to attract before the offer expires.
Customers can access the eligible services through the NCBA NOW application, online banking, or the *212# USSD channel. The fee waiver runs until December 31, 2026, subject to the bank’s applicable terms and conditions.
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