Standard Chartered is 1st bank to collect ATM fees in Uganda

Standard Chartered is 1st bank to collect ATM fees in Uganda
Tags: Bank / Credit Union
October 30, 2002

UGANDA -- Standard Chartered Bank has become the first financial institution in Uganda to charge customers for ATM services, according to a report on allAfrica.com.

ATM users will be charged a fee of 200 Ugandan shillings (about 12 cents U.S.) for every transaction.

The move is aimed at "widening the revenue stream for the institution," the bank's manager for Information Technology Shem Nnaggenda Nsubuga said, at a presentation on "Electronic Banking in Uganda Opportunities and Challenges."

He told the audience, which was made up of IT practitioners, that the charges are to be expected from any financial institution involved in electronic banking, adding, "the other banks already operating ATM services in the country would follow suit" in due course.