{UAH} Your Money

Ugandans in the diasporas DON'T lose your money anyhow.
Once in Uganda visit your bank and ask for mobile banking provisions.
This implies you can be able to conduct any financial transaction
(school fees, wages/salary, support to your family) from anywhere.
Open a mobile money phone account too. This implies you can send money
direct to your mobile money phone account and you can as well transact
business from anywhere in the world fro your mobile money account to
any other mobile account.
Check what the cost will be using a mobile network in your country.
This money is extracted once you are back in Uganda. Therefore a
mobile bank account is far better!
You just have to go to a forex bureau and send the money to that
account. Since you have the sim card where you are, you will be able
to see instantly what you have deposited on it.
Now be careful too and ask to know the different bank changers on
different types of accounts are. Majority banks in Uganda have a
system where if you want to get an ATM card you are forced to open a
capital account.
A capital account is rather expensive
A savings account is cheaper but I do not know any bank which gives
out an ATM card with it.
Be careful too. Some banks like standard chartered and Barclays bank
are really expensive. Use local banks like KCB, Stanbic or PostBank.
Remember there is OTT tax which is actually very small 0.05% the day
you wish to take out that your money from the mobile phone account
that tax will be extracted.
Good enough you can use the same mobile phone account system to
deposit money with NSSF which offers between 10%-16% on your annual
saving better than any bank in town. The more money you save the
greater the annual profit.
Bwanika

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