Bank of Uganda Introduces New Cheque Value Limits

Bank of Uganda Introduces New Cheque Value Limits

The Bank of Uganda has lowered the limits on the value for cheques payment to promote e-payments.

Effective January 15th, 2022, cheques for amounts that are above the new limits will not be honuored.

The new limits do not apply to over-the-counter withdrawals, nor do they apply to cheques payments that are made within the same bank, that is where the cheques issued and the recipient hold accounts with the same commercial bank.

The public is urged to use alternative electronic payment options, such as the real-time gross settlement system(RTGS), Electronic Fund Transfer(EFT), and mobile money among others.

See the new limits below;

Current limitNew limit
UGX 20millionUGX 10million
USD 5,500USD 2,750
Euro 4,500Euro 2,250
GBP 4,400GBP 2,200
KES 600,000KES 300,00

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