BoU Sets Shs 50 Million Daily Cash Withdrawal Limit for Individuals
The Bank of Uganda (BoU) has announced new over-the-counter cash withdrawal limits for bank accounts, set to take effect on January 1, 2027. Under the new guidelines, individual account holders will be limited to a daily cash withdrawal cap of Shs 50 million and a weekly limit of Shs 500 million. For corporate and business […] The post BoU Sets Shs 50 Million Daily Cash Withdrawal Limit for Individuals appeared first on Daily Star.
Black News 
The Bank of Uganda (BoU) has announced new over-the-counter cash withdrawal limits for bank accounts, set to take effect on January 1, 2027.
Under the new guidelines, individual account holders will be limited to a daily cash withdrawal cap of Shs 50 million and a weekly limit of Shs 500 million. For corporate and business accounts, the limits have been set at Shs 250 million per day and Shs 2.5 billion per week.
The central bank said the move is part of the financial sector’s broader e-payments strategy and aligns with global trends toward digital financial services. BoU noted a growing consumer preference for electronic payment methods, which has informed the policy direction.
The withdrawal limits will apply to all accounts held in supervised financial institutions. However, they will not affect digital payment channels such as Real Time Gross Settlement (RTGS), Electronic Funds Transfers (EFT), and mobile money bank-to-wallet transactions.
BoU acknowledged that some sectors of the economy remain heavily reliant on cash. As a result, the central bank has issued guidance to supervised financial institutions (SFIs) on managing exceptions.
Under the customer risk profiling framework, SFIs are required to develop and implement comprehensive, risk-based customer profiles, which may allow for lower or adjusted limits where necessary.
Additionally, BoU stated that it may grant exceptional approvals to waive the limits for specific transactions or sectors upon request by SFIs.
The central bank also directed financial institutions to actively promote digital alternatives by advising customers on available channels such as RTGS, EFT, and mobile money transfers.
BoU reaffirmed its commitment to supporting the development of an innovative, inclusive, and resilient payments ecosystem aimed at driving socio-economic transformation.
The post BoU Sets Shs 50 Million Daily Cash Withdrawal Limit for Individuals appeared first on Daily Star.
