So you are moving to Kampala and asking yourself; what exactly do I do concerning money? Here is nearly all you want to know. Uganda has a cash economy (which means you will hardly ever find a spot to swipe your card) in line with the Ugandan Shilling, which as i write this approximately 2,500 to 1 US Dollar. Get accustomed to thinking in line of hundreds of thousands and also millions
Bank and money transactions in Kampala Uganda;Where to get and how to make money transactions in Kampala.
The simplest way to acquire money on your initial arrival is using a Visa ATM card (Mastercard is more challenging; do not bother using anything else). The ATMs are scattered across Uganda, beginning at the airport, and nearly all of them offer the favorable Visa logo. It is a good idea to talk to your bankers back at home and inquire about any kind of deals they offer within Ugandan banks – for example, as I write this, in case you use your Bank of America ATM card in any of Uganda’s Barclays ATMs, you will not be charged that annoying ATM fee. Western Union is as well an alternative for quick cash from foreign countries, although the fees are somewhat large. On the other hand, if it is a better option for you, there are several Western Union places throughout Kampala.
What Forex Bureaux have the best rates in Kampala Uganda?
In case you have cash or even traveler’s cheques, foreign-exchange businesses are simple to come by, however, not all are made the same. For competitive forex rates try Crane Forex on Kampala Road or Shumuk on Grand Imperial Hotel (check bottom of this page for the phone numbers). Please remember that you will get the finest rates on large, not long ago minted bills (from $50 and more in USD, and from 2006 to the newest print).
In case you would like to open up a bank account here, you will generally only require your passport – copies thereof, some passport photos, and usually a recommendation letter from a present account holder in that bank of preference. Various banks have distinct requirements at various times, therefore do not hesitate to simply walk in and inquire.
Do I need my International Banking card While in Kampala Uganda?
The majority of properly-ATMed banks are Barclays plus Stanbic that appear to have ATMs almost anyplace you would require one. A properly-informed friend informed me that Barclays, regardless of its international name, is pretty short on service, and that its competitor Stanbic could be a better choice. Additional alternatives include Centenary bank whose ATMs and branches can be accessed in most of the rural parts of the country plus Standard Chartered, that has fewer branches as well as ATMs although fairly good service.
How do I make mobile money transactions with my cell phone in Kampala Uganda?
One new and expanding approach to handle money within Uganda is using cell phones commonly known as Mobile money. You can Sign up with any of the local carrier and then send and also receive money directly on your phone, obtainable almost any place across the country. But of course, you need to have some money deposited on it.
I leave the choice all up to you.
Crane Forex – 0752 711 835
Shumuk Forex – 0772 997 355