NCBA Bank Uganda is waiving fees on selected digital banking transactions until Dec. 31, seeking to attract customers to its online platforms and reduce the cost of routine payments and money transfers.
The campaign, launched on Tuesday, allows customers to make eligible transactions without transaction fees through the bank’s NCBA NOW mobile application, web platform and USSD service, according to the lender.
The waiver covers selected utility bill payments, bank-to-wallet transfers, electronic funds transfers, real-time gross settlement payments, international transfers and National Social Security Fund payments. The offer is subject to the campaign’s terms and conditions.
The move comes as banks expand digital services to make transactions more convenient while encouraging customers to shift routine banking away from physical branches.
Speaking at the launch at the bank’s head office at Twed Towers in Kampala, Chief Executive Officer Mark Muyobo said the initiative was intended to make banking more accessible and rewarding.
“At NCBA, we believe banking should do more than facilitate transactions. It should make life easier, create opportunities and empower people to pursue their ambitions,” Muyobo said.
Removing fees on selected services for the remainder of the year would allow customers to save money while making greater use of digital banking, he said.
“Our message is simple: transact more, enjoy greater convenience and pay zero transaction fees on eligible transactions. We also welcome those who are not yet banking with NCBA to open an account and experience the benefits of banking with us,” Muyobo said.
The campaign targets existing customers, inactive account holders and prospective clients seeking lower-cost digital financial services. Customers can access NCBA NOW through the bank’s mobile application, web platform or the *212# USSD channel.
The waiver is restricted to specified transactions and does not necessarily remove other charges that may apply to banking services.
NCBA is also offering selected small and medium-sized enterprises zero transaction fees and zero arrangement fees on qualifying financial facilities under its “Ku NCBA Kiggwa Ku Bwererere” campaign.
The facilities include business loans, invoice discounting, Local Purchase Order financing and asset financing, subject to the applicable terms and conditions.
The initiative is aimed at businesses seeking to manage operating expenses, improve cash flow and finance expansion. SMEs that depend on frequent supplier payments or short-term financing can be particularly sensitive to transaction costs and fees charged when arranging credit.
Invoice discounting allows qualifying businesses to obtain financing against unpaid invoices, while LPO financing can help firms meet the costs of fulfilling purchase orders. Asset financing provides a route to acquiring equipment and other productive assets through structured credit arrangements.
Although waiving arrangement fees can lower the upfront cost of borrowing, the overall cost of credit will still depend on interest rates, repayment terms and any other applicable charges.
“For SMEs, every cost matters and every opportunity to improve cash flow can make a difference,” Muyobo said.
He added that the bank’s commitment to delivering value extended to businesses that contribute to Uganda’s economic activity.
The twin campaigns reflect banks’ efforts to compete on convenience and the cost of financial services as more customers adopt digital payments and remote banking. Greater use of digital channels can also reduce pressure on physical branches and improve service delivery for routine transactions.
The impact of the offers will depend on customer uptake, the reliability of the bank’s digital platforms and the extent to which eligible users benefit from the fee waivers.
NCBA said existing customers could use the NCBA NOW platform more frequently, while inactive users were encouraged to reconnect with the bank. Prospective customers can also open accounts and access the benefits on qualifying transactions.
