Requirements For Agent Banking In Uganda
Agent banking is hinged on the Agency Principal relationship. Agency is a fiduciary relationship created by express or implied contract or by law, in which one party (the agent) may act on behalf of another party (the principal) and bind that other party by words or actions.
Requirements For Agent Banking In Uganda
Eligibility Requirement
The applicant must be a citizen of Uganda
The applicant must complete a minimum of 18 years of age
The applicant must be well versed in using computer and internet
The applicant must be minimum 12tt Pas
What are requirements of becoming an Equity Agent?
An existing business that has been operating successfully in the same location for a minimum of 12 months prior to application.
Valid business permits for the existing business
A strategic business location – accessibility, visibility and security
A good reputation and high moral standing
An excellent reach and catchment area
Brief description of commercial activity- 12 months
Current statements for the last 6 months
Is agency banking profitable in Uganda?
Profits are high with 40 percent of agents making at least US $100 of profits a month. Although agents are generally happy with their financial gains, data shows they could be earning significantly higher profits.
How do bank agents make money?
Your income in the agency business will be derived solely from commissions on transactions processed through your outlet by bank customers. The commission is shared between you and the bank as defined in your revenue share agreement.
Services offered by Cente Agents
Cente Agents offer the following services in line with the Agent Banking regulation;
Cash Deposit
Cash Withdraw
Account Opening and Loan Application Initiation
School fees collection
Third party payments (UMEME, NWSC, URA, KCCA)
Cente Voucher (Customer to non-customer payments)
Balance Inquiries, Mini / Full statements
Benefits of Agent Banking services
Enhanced convenience by taking banking to customers’ neighborhoods
Improve customer service through extended banking hours.
Increasing accessibility to our services especially in the rural areas through increased outreach.
Delivering tailor made solutions to meet the needs of our customers.
Downloading the CenteAgent Banking Mobile Application:
The application must be downloaded and installed from the Android Play Store. Below are the steps;
1. Go to the Android Play Store on your device.
2. Search for the Cente Agent Banking Mobile App
3. The Cente Agent Banking Mobile Banking App will appear.
4. Tap the app, then click Install
5. App permissions will appear, for what this mobile application needs access to. Review and then tap Accept
6. The application is then installed. Tap Open to launch the application
NOTE: No charge or fee will be associated with downloading or installing the Cente Agent Banking mobile application.
Self-registration for Agent Banking services
How to self-register using a USSD Code – *211#:
1. Dial *211#
2. Select Agent Banking
3. Select Register
4. Input your account number
5. Input CenteVisa card PAN number
6. Input CenteVisa card PIN.
7. A unique PIN shall be sent to you
8. You are ready to transact!
How to self-register using the CenteAgent Application:
1. Launch the Cente Agent Banking Mobile Application downloaded on your device.
2. Select Register
3. Input your account number
4. Input ATM PAN number
5. Input ATM PIN
6. A unique PIN shall be sent to you
7. You are ready to transact!