Eronda
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- Dec 16, 2025
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Central Bank of Uganda
The Bank of Uganda (BoU) has announced new caps on over-the-counter (OTC) cash withdrawals from supervised financial institutions, effective January 1, 2027.
The policy forms part of the central bank’s broader e-payments strategy to promote a cash-lite economy, enhance efficiency, improve transparency, and align with global trends toward digital financial services.
According to an official statement and circular issued to commercial banks, credit institutions, and microfinance deposit-taking institutions, the limits are as follows:
Individual accounts: UGX 50 million per day and UGX 500 million per week, Corporate/Business accounts: UGX 250 million per day and UGX 2.5 billion per week.
These caps apply specifically to OTC cash withdrawals and do not affect digital channels such as Real-Time Gross Settlement (RTGS), Electronic Funds Transfers (EFTs), mobile money, or internet banking
In the same circular to banking chief executives, the central bank indicated that the maximum value of a shilling cheque has been cut from shs 10m to Shs 5m, while the limit for IS dollar Cheques has been reduced from $2,750 to $1,375. Euro cheque limits have been lowered from €2,250 to €1,125, Pound sterling cheques from £2,200 to £1,100 and Kenyan shillings cheques from Ksh300,000 to Ksh150,000