Under the new framework, individual account holders will be allowed to withdraw a maximum of sh50m per day and sh500m per week over the counter. For corporate and business accounts, the limits will be set at sh250m per day and sh2.5bn per week.
The Bank of Uganda (BoU) has announced the introduction of over-the-counter cash withdrawal limits for all accounts held with supervised financial institutions, a move aimed at accelerating the country’s transition to digital payments and modernizing the financial sector.
According to a statement issued by the central bank’s management, the new limits will take effect on January 1, 2027, as part of Uganda’s broader e-payments strategy and in line with global trends favoring electronic transactions.
Under the new framework, individual account holders will be allowed to withdraw a maximum of sh50m per day and sh500m per week over the counter. For corporate and business accounts, the limits will be set at sh250m per day and sh2.5bn per week.
The Bank said the measures are intended to support the growing consumer preference for digital financial services while enhancing efficiency in the payments ecosystem.
However, the central bank clarified that the withdrawal caps will not apply to digital payment channels, including the Real Time Gross Settlement (RTGS) System and Electronic Funds Transfers (EFTs). Businesses and individuals will therefore continue to have unrestricted access to these electronic transaction platforms.
Recognizing that some sectors of the economy remain heavily reliant on cash, the Bank of Uganda has provided flexibility through a number of exception-management measures.
Under the new guidelines, supervised financial institutions (SFIs) will be required to implement risk-based customer profiling, allowing them to set lower withdrawal thresholds where necessary. The central bank will also retain the authority to grant exceptional approvals and waive the limits for specific transactions or sectors upon request from financial institutions.
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In addition, banks and other regulated financial institutions will be expected to encourage customers to adopt digital alternatives such as RTGS, EFTs, and mobile money-to-wallet transfers.
The Bank of Uganda said it remains committed to fostering an innovative, inclusive, and resilient payments ecosystem capable of supporting the country’s social and economic transformation.
The announcement marks one of the most significant policy shifts in Uganda’s cash management framework in recent years, reflecting the central bank’s increasing focus on digital financial services and electronic payments.