Bank of Uganda slashes cheque and cash withdrawal limits to accelerate cashless payments, lower currency printing costs and boost digital banking.
By
James Anyanzwa
Business Reporter in Nairobi, Kenya
Nation Media Group
The Bank of Uganda (BoU) will lower the maximum value for interbank cheque payments from Ush10 million ($2,750) to Ush5 million ($1,275) and will also cap the over-the-counter cash withdrawal limits for individual and corporate customers starting on January 1, 2027.
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Uganda’s central bank has imposed new limits on over-the-counter cash withdrawals and slashed cheque transaction thresholds.
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